When it comes to necessary software to operate your business Energy Brokers have two options:
- Develop your own software
- Purchase software from a Software as a Service (SaaS) company.
Many brokers would agree, the “do-it-yourself” (DIY) route has an appealing factor. For instance, when you develop software in-house, you can tailor it to your firm’s specific needs and workflow — in theory, anyway.
However, the truth is, energy brokers are not software developers, and those that undertake the challenge of the DIY route often run into unforeseen hurdles.
Another truth is many brokers that build their own software, ultimately realize their time and money would have been better spent investigating a SaaS company’s commercially available alternative. Sparkplug, which is the #1 retail energy sales platform in the world, is one of those alternatives. Sparkplug powers over 10% of the commercial and industrial (C&I) transactions with offerings for C&I Brokerage, Aggregators, Community Choice/Municipal Aggregations, Mass Markets (D2D, Call center, Kiosk), and online shopping sites.
A current Sparkplug user, Dave Martinez, offers one such cautionary tale:
Is now the right time for your company to switch to the best broker software solution?
Sparkplug is the most advanced broker platform on the market and manages complex products with varying sizes and variable applied margins. Sparkplug supports all of the key elements necessary to support complex products including:
- Manage different margins for all product components
- Reconcile supplier commission payments
- Track index portions
- Track blocks (including layered blocks)
- Reconcile expected vs actual usage
- Report at risk hedge positions for each customer and overall book