BidEnergy Brings Breakthrough Spend Management Platform to U.S., Automating the “Source-to-Pay” Process for Energy

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| Source: BidEnergy Limited

Cloud-based Platform Marries Combinatorial Auctions and Robotic Process Automation to Increase Companies’ Control over Energy Spend and Data

Company Introduces Phil Adams as U.S. CEO

CONCORD, Mass. and MELBOURNE, Australia, Sept. 21, 2016 (GLOBE NEWSWIRE) -- This week at ProcureCon Indirect West, BidEnergy Limited (ASX:BID), an Australian technology company and process automation leader, announced it is launching its proprietary source-to-pay solution for the U.S. market.

The cloud-based, software-as-a-service 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 for each individual site – with robotic process automation for fast, accurate and hands-free bill management, including bill receipt, validation and payment.

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 – BidEnergy’s source-to-pay platform dramatically reduces the total lifecycle costs and complexities of energy category management. With the BidEnergy platform, procurement teams, category managers and energy managers gain visibility and control over their energy spend with a centralized, scalable solution that simplifies, speeds, and increases the accuracy of every process in the source-to-pay cycle.

The U.S. launch follows extensive beta testing for the local market and builds on BidEnergy’s success in the Australian and New Zealand markets with national chain stores and other multi-site entities, including a recently announced agreement with global resources giant, BP. BidEnergy is also expanding into the European market.

BidEnergy has appointed Phil Adams as its U.S. CEO. Mr. Adams brings more than 30 years’ experience to the role, most recently as President and 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.

“I am delighted to have on board someone as skilled and experienced as Phil as we expand our innovative platform in the U.S.,” said BidEnergy Managing Director, Stuart Allinson. “His expertise in energy management software and energy procurement will greatly assist our U.S. growth strategy.

“The introduction of our source-to-pay platform in the U.S. will provide local procurement and category managers all the automation and data they need to manage energy centrally, easily and cost-effectively. This will solve the problem that existed for far too long in the U.S. 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.”

Mr. Adams added: “We are seeing the advent of ‘Energy Management 3.0,’ where significant and ongoing technology improvement has seen the industry move from a paper-based, consultant-centric model, to numerous best-of-breed point solutions, to today’s data-centric marketplace. In this latest incarnation, fewer service providers, each of which has grown through multiple acquisitions, are leveraging more automation through the scale and speed of the cloud to bring new efficiencies and opportunities to customers. The introduction of BidEnergy’s ‘source-to-pay’ platform in the U.S. announces our entry into this important, growing global market.”

BidEnergy offers its source-to-pay platform on an annual subscription basis. For more information on the platform and how BidEnergy can reduce your organization’s energy spend, see: http://bidenergy.com/energy-as-a-service/index.html. For additional information, see: www.bidenergy.com.

About BidEnergy Ltd

Bid Energy is an Australian-based technology company and process automation leader. Based in Melbourne, its cloud-based platform gives organizations control over their energy spend throughout the contract lifecycle. By automatically capturing and validating invoices and meter data, customers can streamline their accounting and payment processes, go to market at short notice to optimize their supply contracts, and reduce on-bill charges using sophisticated analytics and reporting. For more information, see: www.bidenergy.com.

This release is for informational purposes only and should not be considered a recommendation to buy or sell any types of securities.

Further Information: 
 
Phil Adams
Phil.adams@bidenergy.com
(978) 254-6266

Dan Mees					
Mees Consulting for BidEnergy			
dbmees50@gmail.com