BidEnergy Launches Its ‘Source-to-Pay’ Process for Energy in U.S. Market

On September 21 at the purchasing industry event, ProcureCon Indirect West in Scottsdale, Arizona, BidEnergy announced the launch of a proprietary source-to-pay solution for the U.S. market.

The firm – based in both Concord, Massachusetts and Melbourne, Australia – heralded the immediate introduction of its cloud-based, software-as-a-service platform.

The company said that its platform “performs a wide swath of energy contracting and accounting functions, merging the power of combinatorial auctions – which help businesses with multiple sites in multiple regions automatically procure energy from the best supplier at the lowest price at the right time.”

Optimized for companies and agencies with tens, hundreds, or thousands of geographically dispersed sites across regulated and deregulated service territories – and designed with the data and execution needs of corporate procurement professionals in mind – the new platform “dramatically reduces the total lifecycle costs and complexities of energy category management,” BidEnergy claims.

BidEnergy offers its source-to-pay platform on an annual subscription basis.

The U.S. launch follows beta testing for the local market and builds on BidEnergy’s success in Australia and New Zealand, working with national chain stores and other multi-site entities, including a recently announced agreement with global fossil fuel giant, BP.

BidEnergy has appointed Phil Adams as its U.S. CEO. He brings more than 30 years’ experience to the role, most recently as CEO of Nasdaq-listed energy management software and services firm, World Energy Solutions. In that role, he helped establish World Energy Solutions – a leader in online auctions for the energy sourcing process – as one of the largest energy procurement firms in the U.S. World Energy Solutions was acquired by demand response and energy management solutions company EnerNOC in January 2015.

“This will solve the problem that existed for far too long in the United States, as well as other markets:  ‘Energy spend’ has been an outlier in the eProcurement trend that has successfully automated and centralized nearly every other organizational spend category,” commented BidEnergy Managing Director Stuart Allinson,

The company also plans to expand into the European market,

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