The market is always changing, and this means it can sometimes feel quite complicated. And often, business owners need assistance from experts to help with procurement of new tariffs and supply. This is to make sure they don’t fall into the wrong types of contracts. 

​

But what is procurement, and do you need it for your business? Find out below.

​

• Procurement is about looking into your company to determine what the requirements are - so you can put a plan in place to find a supplier and deal that fits. Most businesses don’t have this but absolutely need it. The scope depends on the size and industry of your business.

• This process reduces risks and has other benefits. This includes identifying a reliable supplier, improved forecasting, renewal updates and more savings on bills across the board.

• Larger businesses may want to consider crafting a procurement strategy. This is to make sure wider business goals, like environmental targets, are considered during the process. This is an area we can really provide you with support.

​

Benefits?

​

• Lowers the risk of hidden charges - If this process is done properly, it will likely lower the risk of you falling prey to hidden costs by smaller, untrustworthy providers and brokers.

• Ensures a reliable supplier -  You want a supplier that is financially stable, so you have peace of mind as a business owner. If you spend time researching, you’re more likely to make sure you’re choosing a reliable supplier that your business can rely on.

• Improved forecasting - As part of this process, your broker or consultant will have all your details stored, including usage, so you can forecast your energy budget and plan ahead for the next financial year.

• Informed on renewals - Your broker will keep your details on hand and keep you updated on changes with your supplier. They will also remind you when your contract is due for renewal.

• More savings on bills  - During the process, you will likely speak to an expert - either a broker or consultant, they know the market and will be able to advise on the deal that will give you the best saving, long term.