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BidEnergy signs agreement with iSelect to deploy robotic automation and bill parsing technology across energy sector

BidEnergy’s cloud-based platform simplifies the energy spend management process by using automation and enabling organisations to have complete control over their energy spend.

BidEnergy Ltd - BidEnergy signs agreement with iSelect to deploy robotic automation and bill parsing technology across energy sector
BidEnergy has offices in Sydney, Melbourne, London and Philadelphia

BidEnergy Limited (ASX:BID) has signed an agreement with iSelect Ltd (ASX:ISU) to deploy BID’s Robotic Processing Automation (RPA) and bill parsing technology across iSelect’s energy category.

Under the 13 month agreement, iSelect customers will have the ability to upload copies of their gas and electricity bills directly to the iSelect website where BidEnergy’s platform will digitise all bill data and immediately send it to iSelect.

BidEnergy’s platform will help iSelect reduce the number of steps required to onboard a customer by delivering accurate data instantaneously that will provide an enhanced experience for iSelect customers.

The solution is expected to be deployed to begin operation in the second half of FY20.

“Delighted to launch another vertical”

BidEnergy managing director Guy Maine said: “The iSelect agreement is another demonstration of our ability to utilise BidEnergy’s core IP to provide white label solutions beyond our standard “meters” business.

“We are delighted to launch another product vertical with iSelect which presents strong growth opportunities.

“Our bill parsing capability, enabling the timely collection of instant and accurate billing data, will greatly enhance iSelect’s consumer experience and make it easier for iSelect’s consultants to provide the best possible advice to their customers in relation to iSelect energy offerings.”

Improved customer experience

Maine added: “Electronic PDF’s are becoming increasingly commonplace in Australian households and we expect iSelect customers will value the ability to upload their bills.

“We believe this functionality will also lead to additional opportunities to increase revenue in the future.

“Global corporations are utilising technology to improve their customer experience and the demand for BidEnergy’s solutions reflects the need for their core RPA technology.

“BidEnergy’s platform efficiently captures data and removes process pain points via time-efficient and accurate automation.

“Under the agreement with iSelect, BidEnergy will earn revenues for the use of its platform on a per bill parsed basis.”

Improved process automation

iSelect chief experience officer Slade Sherman said: “The partnership with BidEnergy is an important part of our continued commitment to technology and design solutions that have a focus on customer ease.

“Our new bill upload feature will result in improved process automation as we cut down the number of steps our customers need to go through in order to receive an energy comparison.” 

Quick facts: BidEnergy Ltd

Price: 0.775 AUD

Market: ASX
Market Cap: $101.7 m

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