Company Research Report: Conservice

Company Overview

Name: Conservice

Mission of the Company: The mission of Conservice is to manage utilities effectively, reduce costs, meet sustainability goals, and ensure regulatory compliance for property managers and owners, providing more time to improve their business.

Founded: 2000

Founder: Dave Jenkins

Key People:

• Scott Hardy (Chief Executive Officer)

• Marc Treitler (President Sustainability Solutions, General Counsel)

• Liz Udy (Chief Revenue Officer)

• Jerry Davis (Chief Sales Officer)

• Aimee Wood (Executive Vice President of Billing Services)

• Michael Burnett (Executive Vice President of Utility Services)

• Todd Yost (Chief Financial Officer)

• Steven ZoBell (Chief Technology Officer)

• Rich Seeley (Chief Information Officer)

• Starr Fowler (Chief Human Resources Officer)

• J. Matthew Miller (Chief Payments Officer)

• Quentin Smith (Head of Corporate Development)

Headquarters: 750 South Gateway Drive, River Heights, UT 84321

Number of Employees: More than 2,000 employees as of 2020, with further expansion noted.

Revenue of the Company: No information is available.

What is the Company Known For: Conservice is known for being America’s leading utility management provider, offering comprehensive utility automation technology and a team of expert utility managers.

Products

Utility Management Services

High-Level Description: Conservice offers a range of services focusing on utility management for various property types including multifamily, single-family, student housing, manufactured housing, commercial, and military.

Key Features:

• Expense Management: Ensures accuracy, resolves errors, and provides insights and budgeting tools.

• Expense Recovery: Customizable billing services that increase the efficiency and accuracy of the billing process.

• ESG Solutions: Helps in planning, developing, implementing, and tracking ESG goals.

• Meter Management: Effective metering for precise billing and informed decision-making.

• Energy Procurement: Ensures competitive bids and lowest rates through established supplier relationships.

• Data & Analytics: Provides automated, direct access to consolidated utility costs and consumption.

• Utility Analysis: Evaluates how utility expenses affect ROI on real estate investments.

• Contract Management: Manages vendor and contract responsibilities to free up staff.

Recent Developments

New Products Launched/Important Changes:
1. Conservice Acquires Onboard:

• Date: May 31, 2024

• Description: Acquisition of Onboard, a leading telecom and technology management platform, enhancing Conservice’s ability to offer comprehensive telecom and utility management services.

2. ENERGY STAR Partner of the Year Award:

• Date: March 26, 2024

• Description: Conservice received the 2024 ENERGY STAR Partner of the Year Sustained Excellence Award, reflecting their commitment to energy efficiency.

3. SEC Climate Disclosure Requirements Analysis:

• Date: March 7, 2024

• Description: Conservice’s ESG experts analyzed the SEC’s new climate disclosure requirements, providing insights into how these regulations impact publicly traded companies.

4. Support for Federal Utility Data Sharing Initiative:

• Date: February 27, 2024

• Description: Conservice supported a federal initiative encouraging utility companies to make energy and water usage data for multifamily properties freely available, aiming for more energy-efficient homes.

5. Launch of Building Performance Standards (BPS) Solution:

• Date: December 1, 2023

• Description: Conservice launched an industry-leading BPS solution to help property managers comply with environmental regulations and improve operational efficiency.

Key Features Added to Existing Products:

• Enhanced ESG Solutions: With the acquisition of Goby, Conservice boosted its ESG and sustainability offerings.

• Introduction of Building Performance Standards: Offering comprehensive support for meeting new regulatory standards for environmental performance.

New Partnerships:

• Strategic partnerships with organizations like NMHC, GRESB, and technology integrators to ensure seamless operations and enhanced service delivery.

Conclusion

This report provides a detailed look at Conservice, an industry leader in utility management, highlighting its core services, recent developments, and the integral role it plays in enhancing efficiency and sustainability for its clients.