Vault Energy Solutions
Vault Energy Uses Enerex's Sparkplug Platform to Transform Into Efficient Energy Brokerage Firm
Who Is Vault Energy Solutions
Vault Energy Solutions is a licensed energy brokerage and aggregator firm based in Plano, TX. Founded in 2009, Vault has helped thousands of Texas businesses and households save money on electricity by providing energy expertise, comparative digital shopping tools, and special offers.
Vault’s Business Challenges and Objectives
Vault’s business challenges were typical of many other brokers:
- Inefficient renewal handling resulting in lost customers
- Inability to quickly and efficiently perform supplier commission audits, thus failing to identify 1-4% of missed supplier commission payments
- Attempting to use and customize costly off-the-shelf CRM tools to manage the unique needs of the energy market
- Unable to effectively own the “customer buying experience” from initial website contact through enrollment and renewal
- Loss of brand management and process flow through the use of supplier website redirect links which led to a 40% loss in lead conversions
Vault’s Results Achieved by Implementing Sparkplug
According to Devon Bass, VP of Operations for Vault, “After several discussions with the Enerex team to understand their unique capabilities, we decided to engage them in a long term relationship to help us enhance our digital buying journey”.
Key Areas Enerex Helped Vault:
- Unique Vault Enrollment Flow – Vault and Enerex crafted a unique digital experience which allowed Vault to own the customer journey. The solution included valuable features such as customer identification, integrated account look-up (ESID) tools, “fetching” pricing from the various suppliers, comparing the different options for the customer, affirmation statements as required by regulatory, credit checks, deposits (as required) and supplier enrollment.
- Supplier API Integration – Enerex integrated the Vault Enrollment Flow with API connections to several suppliers which helped bring automation to the overall process.
- CRM Integration – With a shopping website dealing with 1,000’s of enrollments, it is easy to lose an enrollment in the shuffle. With Enerex’s unique solution, Vault was able to simultaneously capture the customer enrollment in Sparkplug as well in the supplier’s system and never miss an enrollment.
- Commission Reconciliation – Sparkplug allowed Vault to quickly and easily reconcile supplier payments to the enrolled accounts to ensure Vault never missed a payment or was paid incorrectly.
- Renewal Tracking/Reporting – Sparkplug alerts Vault about all upcoming renewals to ensure they are properly managed.
- Email Automation – Vault was able to create email templates which automatically trigger and communicate with their customers through the entire customer lifecycle.
“The team at Enerex has been supporting us every step of the way and we look forward to a long-term relationship for years to come. Their project management and development teams have met, and in many ways, exceeded our expectations. Enerex’s knowledge of Retail Energy, which was a major reason we chose them, has allowed us to concentrate on what we know how to do best, which is drive traffic to our website. Sparkplug will be a cornerstone to our business and we look forward to continuing to expand the reach of VaultElectricity.com.”, Devon Bass, VP of Operations, Vault Electricity Solutions.
Wish to Take Your Business to New Heights of Success?
If you wish to transform you energy brokering business by harnessing countless latent and evident possibilities, speak with one of our expert consultants today! To schedule a no-obligation consultation, fill out our contact form or simply call (713) 936-9301.
About Vault Energy Solutions
Vault Electricity was founded in 2009 by two native Texans who felt there had to be a better way for homeowners and businesses to find the best deal on electricity. It was a difficult time financially for the country, and many Texas families and businesses were looking for ways to save money.
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