Beyond Savings: Energy Procurement Services As Catalysts For Innovation
Article at a glance
- Energy procurement fuels growth: Lower costs free up capital, ensure consistent power, and unlock investment opportunities in renewable energy
- Choose the right partner: Look for diverse energy sources, strategic partnerships, and risk mitigation through analysis.
- Bridge the talent gap and invest in tech: Hire energy specialists or build a strong IT infrastructure to adapt to industry changes.
Have you streamlined your energy procurement process to cut expenses while still providing your business with all the energy it needs? If you’re focused on cutting costs, you might miss out on an even greater benefit of quality energy procurement services: innovation. Discover how reliable procurement services can give your business the edge over your competition.
What Are Energy Procurement Services?
As a business owner, you know the procurement of energy resources is essential to keeping your business productive and your utility expenses low. But securing the energy is more than savings; it can also enhance the speed at which your business can innovate and grow.
While traditional procurement services focused on energy derived from natural gas and coal, with renewable energy and growing technology changing the face of the industry, these new sources of energy provide even more potential for innovation and scaling your business.
How Energy Procurement Services Speed Up Innovation
With strategic energy sourcing, you can convert the money you save on utilities into an investment that can quickly scale your business and empower your innovation to meet the coming decade at a running pace. Energy procurement accomplishes this in three primary ways.
Accelerated Growth
Business energy acquisition is the foundation of your productivity, as you can’t do business without power. However, finding your business’s right energy source and rates is about more than staying productive. It can also help you grow more rapidly.
With a secure and cost-effective energy source, you’ll have fewer down days where you spend time twiddling your thumbs because you don’t have the power you need. Consider, though, what you are going to do with your savings. When you reinvest the money you save on utilities, you’re thinking long-term and laying the foundation for a faster flow of profit and a greater customer base.
Meets Demands
Have you ever had a day where you couldn’t work because a lack of energy supply management caused brownouts or blackouts? With the right procurement company, you won’t have to worry about that. Renewable energy and improved technology help meet the growing energy demand better than ever.
Work with a company that supplies you with renewable energy, and you won’t worry about the increasing difficulty natural gas and coal have in meeting consistently rising energy demands.
Opportunities for Investment
One of the most fundamental rules of business investments states that diverse holdings create secure profits. Consider investing in efficient energy procurement. The industry will continue growing for decades and offers incredible opportunities for consolidation.
Investing early can maximize the amount of revenue you’ll earn.
Additional Read: The Growing Value Of Energy Consulting
Tips for Improving Your Energy Procurement
You can find sustainable energy procurement of various qualities. Follow these tips to ensure you’re getting the best price and most benefits.
Segment Suppliers
If you use multiple suppliers for your energy procurement, segment them based on whether they qualify as strategic supplies. A strategic supplier adds long-term value to your business rather than just using them to fulfill your short-term energy needs. In general, a strategic supplier shares the following with you:
• Values
• Goals
• Risks
• Investments
• Communication
Foster good relationships with your strategic suppliers for more secure long-term gains.
Mitigate Risk
For a business, the risk increases proportionately with the supply chain, responsibility, and process. As you grow your business, you can mitigate the risk from your energy procurement by detailed reporting and frequent spending analysis. This helps you control rogue or unnecessary spending and predict trends in energy usage, which you can adapt to before they occur and maximize your profit while minimizing your risk.
Close the Talent Gap
The rapid expansion of technology in the energy sector has led to a large talent gap within the industry, with the vast majority of energy leaders reporting they don’t feel confident in their team’s ability to meet the rising needs of the industry. Hiring an energy team or individual that can bridge the gap where the procurement specialists lack talent can insulate you against these changes.
Improve Technological Infrastructure
Technology is important both for your business and within the energy sector. Investing in a strong technological infrastructure can help you weather the changes brought upon by rapid growth and protect your ability to innovate. Investing in a competent IT team is the first step in building this infrastructure.
Navigate Power Can Enhance Your Energy Procurement Efforts
Navigate Power can help you find the most secure and competitively priced energy source. Our consultants work diligently to find the most competitive rates from the most secure and renewable sources. To find out how we can help you expedite your innovation with energy procurement, contact us today using our online form or by phone at 1-800-541-1137
