ERCG's Young Kim Interviews Enerex Leadership for 2020 ABC Leadership Series

ERCG’s Young Kim Interviews Enerex Leadership for 2020 ABC Leadership Series

Young Kim, Principal at Energy Research Consulting Group, interviews Co-founder Nate Richards and VP of Sales Jason Beck at Enerex as part of his ABC Leadership Interview Series. This is a unique opportunity for Enerex, as it is the first time Young has had a second interview with a firm.  Young interviewed Nate four years ago (you can view that interview here).

In the interview, the group discusses (with Young Kim moderating):

(00:00) Origin of Enerex from the Energy Frameworks – Powermatrix merger

(08:01) Enerex rebrand story – Why? How has market received?

(16:50) How has retail energy changed since last interview with Nate?

  • Too many error-prone, manual processes
  • Lack of connectivity (customer-broker-supplier-utility)
  • Lack of standardization
  • Lack of trust

(27:00) What new problems are solvable that Enerex is working on today?

  • Connectivity – Enerex “open” pluggable model
  • Efficiency (we circle back to this topic at 39:33)
  • Trust

(30:42) What is Exchange? – Secure connectivity solution for C&I deal flow

(31:38) Enerex’s Exchange LIVE online eProcurement platform gives “visual, real-time customer experience” for procurement without forcing suppliers into auction model

  • Branded for Broker
  • Allows structured procurement process
  • Helps brokers qualify for NJ Auction Provider requirements

(39:33) What is Propeller? How does it help mid-market suppliers?

  • Workflow orchestration for Suppliers
  • BRM: “Broker Relationship Management”

(42:19) Why should someone trust Enerex?

  • Enerex is the ONLY Non-broker software platform, as all our competitors are owned by brokers
  • ISO-27001 Certification
  • New York PSC Data Security Agreement (DSA)
  • Background checks for employees

(45:50) How does Propeller allow Suppliers to “plug and play” for CIS, EDI, Credit, Pricing, Risk

  • Mid-market suppliers can access purpose-built off-the-shelf technology vs.
  • Compete with “big REPs” who spend $40M or more customizing Salesforce

(48:16) Broker M&A – how does Enerex help Brokers sell partial books or entire enterprises?

  • Instant valuation
  • Good data
  • Leverage offshore team to acquire and consolidate data

(54:50) What makes the best brokers successful?

  • Process-orientation vs. pure relationship play
  • “Retail is detail” – ability to manage large amounts of fine-grained data
  • Consistent experience for customers AND suppliers
  • Capital spent on differentiators vs. common cost back-office services
  • Focus on top of funnel – marketing, not just sales 
  • Being visible, present throughout customer relationship, vs. at contract renewal
  • Good at telling each Supplier’s story to customer vs. commoditizing their relationships

(1:02:40) Wrap up from Young

Transcript of the Interview

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