Sign up Australia
Proactive Investors - Run By Investors For Investors

BidEnergy Ltd enters lucrative U.S. energy management market

BidEnergy Ltd enters lucrative U.S. energy management market

BidEnergy Ltd (ASX:BID) has formally launched its cloud-based source-to-pay energy management platform in the U.S. market.

BidEnergy’s platform provides enterprises with multiple sites control over their energy spend, from sourcing to billing and accounts payable.

As a “source to pay” solution, the platform uses automation to deliver value over the entire contract lifecycle, with savings from advanced sourcing and analytics to reduce utility charges.

The U.S. launch follows extensive beta testing for the local market and builds on BidEnergy’s success in the Australian and New Zealand markets with national chain stores and other multi-site entities.

BidEnergy has appointed Phil Adams as its U.S. chief executive officer to drive the U.S. expansion.

‘Energy spend’ has been an outlier in the U.S. eProcurement trend that has successfully automated and centralized nearly every other organizational spend category.

The introduction of BidEnergy’s source-to-pay platform in the U.S. is expected to provide managers all the automation and data they need to manage energy centrally and cost-effectively.

BidEnergy completed a backdoor listing on the ASX in July through Cove Resources Ltd after raising $7 million in new capital.

In July, the company clinched an agreement to supply its platform to BP plc's (LON:BP) Australian and New Zealand businesses.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full BID profile View Profile

BidEnergy Ltd Timeline

Newswire
November 17 2017
Newswire
June 28 2017

Related Articles

rare earths
Thu
The first ever drilling campaign at Gakara is about to get underway
PureCircle---Field-of-crops.png
January 15 2018
Harvest Minerals is now completing tests on KPfértil and should secure full certification by the end of the year
1515749109_lithium-periodic-10.jpg
January 12 2018
Savannah Resources has a broad portfolio of assets, including some highly attractive lithium

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use