The energy market is a rapidly changing landscape, and for a new or smaller energy broker, it can be a challenging task to establish themselves in this highly competitive environment. 

With new challenges, regulations, and market trends emerging all the time, it can be difficult to keep up and secure the best deals for your customers.

The key to success as an SME energy broker is to have a network around you that can offer support, connections, and the right tools to help you navigate this ever-evolving industry.

In this blog, we will be discussing 4 things every SME energy broker needs to succeed.

AN AGGREGATOR

You might already have direct relationships with several suppliers but aggregators may offer better terms for immediate cash flow for your business.

An aggregator is a company that acts as a middleman between energy suppliers and customers and offers access to a huge range of suppliers and terms. 

PreAction can make introductions to our extensive network of suppliers and aggregators, resulting in increased supplier options and improved commercials, including on-signature payments.

THE CORRECT TERMS AND CONDITIONS

Having clear and concise terms and conditions is essential for protecting yourself against unnecessary commercial loss and reducing the threat of Undisclosed commission claims.

Our in-house counsel will carry out an in-depth review of your terms & conditions to ensure they reflect industry requirements and adequately protect your business against any eventuality. 

REVENUE RECOVERY PROCESS

One of the most significant risks most energy brokers face is contracts failing to go live and mid-term change of tenancies (COTs). Contracts that fail to go live leave brokers with a commercial loss that they are entitled to recover.

A robust debt recovery process is essential for effectively collecting money owed from these situations. 

PreAction can assist in the recovery of money owed and help to minimise the impact of defaulted contracts on your business. We will recover your lost revenue, ideally without the need for court proceedings.

We offer Revenue recovery for historical losses for the statutory 6-year period. Our legal partners can offer escalation if required.

OUTSOURCED COMPLAINTS DEPARTMENT

Following the implementation of the Ombudsman ADR scheme on December 1st 2022, brokers are now required to follow a strict complaints procedure.

Failure to comply with the procedures would mean your business would be struck off the ADR scheme and suppliers would no longer work with your business. 

There are several benefits to outsourcing your complaints. An outsourced complaints department can alleviate pressure and cost from your team and allow you to focus on acquisition and growth. 

Don’t want to add extra overheads? Outsource all complaints to PreAction to handle on your behalf. 

HOW CAN PREACTION HELP?

We support 70+ utility businesses with specialist operational support.

Whether it’s introducing your business to our extensive network of suppliers and aggregators, providing guidance and support on drafting and reviewing terms & conditions, assisting in the recovery of money owed, or providing an outsourced complaints department service, PreAction has got your back.

We are consistently conducting team calls and visiting new clients and we’d be happy to answer any questions you have. See what our clients have to say.

If you would like to find out how PreAction can support your business with a range of services, including debt resolution, give us a call at 0191 5807231, drop us an email at info@preaction.co.uk