AUSTIN, Texas, May 12, 2015 /PRNewswire/ -- Banyan Water, a leader in the emerging field of smart water management, today introduced SmartRate™, the first water management tool for commercial users that translates water consumption into dollars spent and allows full visibility into the financial impact of water use.
Through its proprietary smart water technology suite, Banyan Water gathers specific rate information from local water and wastewater utilities and accurately calculates costs by factoring in different rate types, meter sizes, rate tiers, seasonal rates, and service fees. In addition, the new feature combines water use projections based on historical use with newly increased rates to determine how rate increases will affect the overall water costs for a specific user.
"As water consumption continues to be a concern for facilities of all sizes, Banyan Water is taking a leadership position in the development of data-driven technologies and tools that will help businesses realize a positive financial and environmental impact from the reduction of water consumption," said Gillan Taddune, chief executive officer of Banyan Water. "The accurate and specific water rate data that SmartRate delivers to users will provide unprecedented insight into the actual cost of water use, enabling customers to see the dollars and cents – and make sense – of their water consumption."
Key Features of SmartRate:
COMPARABLE COSTS - Cost data can be viewed at the meter, property or portfolio levels to identify both the water and financial performance of facilities.
PRECISE VALUES - Costs are calculated exactly as utilities calculate them and factor in different rate types, meter sizes, rate tiers, service charges and seasonal rates to give users exact dollar amounts.
REAL-TIME RATE DATA - Water cost data are available 24/7 via Banyan Water Central, giving customers a clear water use and cost breakdown without waiting for the utility bill to arrive.
REALIZED SAVINGS – Users will be able to view financial savings associated with actual water use in comparison to historical baselines.
SmartRate offers a history of water-related costs, allowing users to view the impact of water use and rate changes over time. The new feature also provides water cost comparisons across a portfolio to show users how their costs vary between properties with different utilities.
"Full water use transparency is the future of water conservation," Taddune added. "By adding SmartRate to Banyan Water Central, we've given decision-makers the tools they need to make informed water-use decisions and be champions of both financial and environmental responsibility."
About Banyan Water
Founded in 2011, Banyan Water provides smart water management as a service for commercial and institutional businesses using real-time technologies and related services to save money and enhance properties. Banyan Water believes that better water management is not just a key source of profit for clients, but a requirement in meeting the needs of our growing population. The company helps businesses find and maintain water savings opportunities throughout their portfolios. For more information, visit www.banyanwater.com.