Companies which act as Third-Party Intermediaries (TPIs) are present in almost every utilities industry, whether B2B or B2C.
Compare The Market, USwitch and Money Saving Expert to name just a few you might recognise.
But why do these companies exist? And how do they help businesses?
In the following piece, we’ll discuss the benefits of working with a TPI like Procure Smart and explain exactly how we generate revenue.
Have you ever needed to enquire about a billing issue, renewal, or price with your business energy supplier over the phone?
Then you have likely spent plenty of time on hold or bouncing around call queues between departments.
The Personal Touch
Working with a TPI like Procure Smart, you will deal with a personal account manager, who gets to know your business inside out, is always available at the end of the phone line and can deal with all admin required on your account.
The Power of Data
How long would it take you to comb the energy market for deals? At Procure Smart, we have access directly to pricing systems which can carry out that task in seconds. With the knowledge of a team of market experts at your fingertips, you can make the right decisions for your business with peace of mind and, crucially, speed.
By recognising market conditions, we have helped customers avoid the impacts of the European energy price crisis through pro-active strategies. Those who purchase direct with suppliers would only ever have renewed within their six month window, leaving them at the mercy of the market conditions at that time.
Earning your business
The way TPIs like Procure Smart earn your business is by providing great deals and great service. If you get a rock bottom price from a supplier, you get what you pay for and often the service element is not as focused as you would receive from a TPI.
Service is a non-negotiable for Procure Smart; solving problems, advising and investigating ways of being more efficient are where we set ourselves apart.
Our colleagues are incentivised on discovering savings proactively across customers’ full range of business costs and providing advice and quotes to demonstrate value.
- Pro-active account management
- Bill validation
- Reduction of consumption and energy management advice
- A holistic approach to switching in a transparent, efficient and simple manner
A holistic approach
Procure Smart’s team of experts are all responsible for maximising savings for customers.
This means that they are trained in a variety of markets and have the tools at their fingertips to investigate contract improvements quickly.
Set us a challenge! On how many costs could we save your business money? Even if it is not one of our primary areas, Procure Smart holds relationships with suppliers in a diverse range of fields and can always advise on a bespoke project.
Why a TPI?
Going direct to a supplier can, in certain circumstances, shave a few extra pennies off your cost. However, the responsibility for the detail of the contract; the decisions on term length and supplier placement; the accompanying admin; dealing with errors and queries; and validation all then fall on you. A diligent business owner must monitor a lot of information to make these decisions effectively. At Procure Smart, we constantly do this as a matter of course.
- Someone to rely on.
From renewables projects to consumption reduction, any TPI should be able to advise you on a holistic energy strategy. Equally, if you have an issue with your contract, Procure Smart is there. Whether it’s a simple explanation of a bill item, or we need to use our behind-the-scenes contacts with suppliers to expedite a query, you can rely on us.
- A safety net
Did you know, your energy contract will go through two extra stages of checks and validations when you use Procure Smart? Your Procurement Solutions Manager will search the market and advise you on the best course of action. Then, the details are checked by our Quality and Risk department, before arriving with the supplier for credit and lock in confirmation.
Do Procure Smart earn commission?
We believe it is important to be transparent with our customers, and that’s why we pulled together this article. Microbusiness energy contracts will always have Procure Smart’s commission detailed. Additionally, our commission calculation is built into our T&Cs so all customers can know what we earn from arranging their deal.
Some intermediaries charge the end user a fee for their service. But most earn commission from suppliers from the contracts they arrange with customers.
When you purchase your home energy, your insurance or even your new car, an intermediary earns a commission fee. As a B2B switching service, Procure Smart earns revenue this way.
How can Procure Smart help my business?
To help businesses like yours, we have created a super-easy process for our experts to gather the necessary information to assess your costs and investigate savings, fast.
To begin with, all we need is just a few bits of basic information. This includes copies of your latest gas and electricity bills and a signed Letter of Authority (LOA). With this, we can analyse your current spending and then approach suppliers on your behalf to procure the best energy contracts for your business.
Our dedicated account management team will oversee the whole process and deal with any queries from suppliers.
Find out more about our hassle-free business energy switching service and read our team’s answers to some of our customers most frequently asked questions.