19 Feb How Brokers Can Get the Most Out of the Supplier Admin Portal (SAP)
The Supplier Admin Portal (SAP) is an energy management application that is part of Albireo’s energy management platform.
This two-way network brings brokers and suppliers together and notifies suppliers of potential pricing opportunities posted by brokers in near real time. This improves the efficiency of executing deregulated contracts by enabling brokers to manage multiple bids and negotiate offers between suppliers. With this real time communication, brokers can compare energy prices and optimize their existing workflow to better serve their clients.
Compare Energy Prices
For this software to operate, brokers post available pricing opportunities, so suppliers can bid on them in near real time. Brokers also post all documents necessary for suppliers to execute due diligence, including past utility invoices, sales tax forms, and a letter of intent (LOA). Brokers should review all of this information for accuracy so suppliers can evaluate accounts and accurately price them. By setting up the proper criteria for pricing opportunities, suppliers can offer bids that conform best to the broker’s stipulations. With concrete terms in place, brokers can compare energy prices, apples to apples, to find the best energy supplier for their clients.
Improve Bargaining Power with Aggregates
Another benefit of the the Supplier Admin Portal is the ability to post pricing opportunities for energy aggregations. Energy aggregations are essentially pools of businesses which combine their energy contracts into a single collective one. Aggregations improve the purchasing power of businesses and individuals, as suppliers will be reluctant to ignore the demands of a large buying pool. By negotiating on behalf of aggregations, brokers can find better pricing opportunities for businesses and improve their existing customer relations. Brokers can also improve their relationship with suppliers by bringing them the opportunity to serve a large energy load under a single pricing opportunity.
Brokers can strengthen their relationship with suppliers and clients by using the Supplier Admin Portal. With a little effort up front to collect and input the right data, the entire process of executing deregulated contracts is drastically improved. This benefits all parties by providing competitive pricing for clients and expanded business opportunties for suppliers.