Technology has come a long way to simplify life for energy brokers. While there are numerous applications and platforms, many are quite different in their approach to helping brokers. Do you know which one is right for you?
“BoB” Platforms
If you are the owner of a broker shop, you started your business to “own your own business”, pouring blood, sweat, and tears to help it grow. You likely did not start your business to simply work for someone else.
Did you know that many of the broker solutions on the market are owned by or associated with a broker who competes against you? Also known as “Broker of Broker” (or BoB) platforms, these brokers have developed software to help grow their business and let you use it while taking percentages of commissions. We have also heard reports of some that add margins to the energy suppliers’ base price, thus “double-dipping” and taking away from your profits while showing a higher price to your customer. When your customer signs the energy contract you worked so hard to close, you are nothing more than an agent to that other broker. Did you know that they are the broker of record? That means supplier payments first go to your platform provider (and you hope they pay your commissions promptly and correctly). Further, what happens to your data upon renewal if your no longer on the platform? Can they renew your customer and cut you out of the loop?
If you want to sell for a competing broker, lose control of your own destiny, lose protection of your company brand, and not be able to offer the best possible price to your customer, this is the right solution path for you.
“BYOB” Platforms
If you want to “Be Your Own Broker” (or BYOB) and not work for another broker, you need to seek out a platform provider that works for you.
Platforms such as these are often developed by technology companies with a deep understanding of retail energy. Their expertise and focus are on providing the best-in-class solution that offers the tools and efficiencies to streamline and grow your business.
Being a pureplay solution provider helps establish trust and eliminates conflicts of interest while ensuring that YOU own your customer data. There is never a fear that the provider will take your customer information and use it to their own advantage.
At Enerex, we’re in the business of providing the best industry solution on the market that works for you, not against you. Our team of over 100 employees has deep retail industry knowledge and continuously pushes the marketplace with innovative solutions. With Enerex, you get an established company with the largest broker customer base in the market that has been a trusted industry provider since 2007. Here are a few of our recent accolades:
“1st and Only” data platform for connecting the retail energy market
#1443 on the 2021 Inc. 5000 “Fastest-growing, privately-owned company list”
2019-2020 Winner for TEPA’s “Affiliate of the Year”
2020-2021 Finalist for TEPA’s “Affiliate of the Year”
130+ broker customers
Enerex's Key Broker Solutions
Provided as a SaaS solution, hosted in Microsoft Azure with an ISO 27001 certification, Sparkplug ensures your business stays organized with a comprehensive view of your customers, prospects, suppliers, employees, and contractors.
Facilitating the most efficient way to help your team manage the daily lifecycle from lead -> prospect -> pricing -> proposal -> contract -> supplier payment -> agent commissions -> renewals, Sparkplug ensures your time is spent selling and not doing meaningless administrative tasks.
- 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
Generator allows you to offer residential and small commercial pricing directly on your website (without web redirects to your supplier sites). With zero software development, you can service online shoppers, agent networks, referral partners, and business associations.
Enerex’s Exchange brings the first-of-its-kind, inclusive API-driven approach to connecting the retail energy industry. The automated electronic system of requesting and receiving supplier pricing reduces operational overhead and increases accuracy while giving structured insights that increase win rates.
