In an ever changing world, the energy industry continues to transition through digitisation, decarbonisation and democratisation of energy.
With forecasts and predictions circling the sector, it's still difficult to be certain as to exactly how the ecosystem will look in the next 10, 20, or even 30 years.
An exciting prospect, as much as a strategic planning maze.
Jon Slade, CEO of ENSEK, talks about working with energy suppliers to build foundations that support long-term goals and changing journeys.
As businesses adapt to keep up with technology advancements and developing consumer behaviours, it's important to remember the need for flexibility and agility.
Watch the video for Jon's take on how ENSEK has approached industry challenges, to provide customers with a future-proof option.
For a quick download on what's covered in the video, look here instead:
In 2010, the team discovered a unique opportunity to address a fundamental data challenge within the energy industry.
Suppliers faced a systemic set of challenges in retail operations around the billing and settlement process. This is where ENSEK's journey began and is still a core part of operations in the UK market.
Since then, ENSEK pivoted to build out a full end-to-end SaaS platform, Ignition. The decision was made to own and manage the full E2E platform, rather than work with third parties that may slow innovation down.
To this day, ENSEK has over 20 million meters either contracted or live on the platform.
The platform also manages over £2bn of supplier revenue and growing.
The challenges suppliers face are around monolithic tech stacks, a fairly high cost to serve, and consequently a poor customer service.
Looking at these challenges in a margin constrained market, the opportunity is to provide a low-cost, digital model to suppliers. This also comes with a level of flexibility and agility to be able to take new propositions to market.
Because of the challenges faced, ENSEK built a modern, API-driven technology stack - Ignition.
As one of the main design principles, ENSEK chose to have zero reliance on any third parties, so innovation could take place at an accelerated pace.
This means owning the whole value chain and allows ENSEK to adapt quickly and flexibly to the changing needs of the market and the industry as a whole.
ENSEK have taken this model to an international level, to unlock further opportunity for energy suppliers - to drive better customer experience and lower cost into customers' businesses, but also to open up a world of opportunity into non-commodities and service propositions.
For example EV charging, battery storage, IoT, and having a modern, future-proofed technology platform in place that also takes care of the non-discretionary components.
Suppliers will be able to build on this opportunity and drive more propositions to market.