Efficiency Exchange Launches First Cost Management System for Chinese Manufacturers

- Tool designed to help reduce costs, increase operational efficiencies by analyzing data from utility bills

WASHINGTON, Sept. 17, 2013 /PRNewswire/ -- Efficiency Exchange, the developer of next generation cost management software for Chinese factories, today launched EEx Charge, the first tool designed for the millions of underserved Chinese manufacturers looking to reduce costs and improve factory operations. By using Charge, customers have experienced an average 10 to 25 percent in costs savings and optimized everyday operations, further enabling them to become leaders in shaping the future of global supply chains.

"Driven by customer demands and basic economic realities, today's Chinese manufacturers are increasingly focused on reducing costs, while still maintaining high operational standards," said Taryn Sullivan, Founder and CEO of Efficiency Exchange. "We developed Charge with this in mind. We saw an opportunity to help manufacturers by simplifying and automating the process of managing their monthly utility costs, and putting factories on a path to becoming the modern, efficient suppliers global brands and retailers are looking for."

Charge instantly analyzes a factory's actual electricity bills and provides personalized "Power Stories" - customized recommendations designed to reduce their monthly bill. The web-based application does not require installation of any equipment. Charge also supports the use of smart meters for customers looking for more advanced intelligence, and connected facilities will be able to take advantage of things such as real-time alerts, advanced recommendations and analytics, and validated data sharing. Charge customers can start out with a non-smart meter account, and upgrade at any time.

"Thanks to Charge, we've reduced our total monthly electricity costs by over 40% in just a few months," said Kevin Chang, General Manager at Concord Ceramics. "In our experience, Charge has already more than paid for itself, and will continue to be a major component of improving the financial and operational health of Concord Ceramics."

Key features of Charge:

• Built in rate structures for a variety of regions and providers, simplifying bill entry, and enabling automatic detection of billing errors
• No upkeep or hardware/software installation needed; customers spend two minutes each month to enter bill data
• For every bill put in the system, Charge automatically performs over a hundred different comparisons and calculations to find the fastest, easiest way to reduce costs
• Advice is immediately actionable - there is no need to decipher technical reports
• Monthly service model provides improved analytics, additional features, and instant upgrades for factories over time

Today, Charge is focused on managing electricity costs, but Efficiency Exchange plans to enhance Charge with tools for managing a host of costs, from raw materials, to water, steam and gas. The company's intention is for Charge to become a Chinese supplier's single destination for tracking, investigating, and reducing operational costs at the factory level.

Watch how Shenzhen-based Circle Furniture saved costs with Charge.