How does 20x growth sound to you?
As we close out the year, I find myself reflecting on the results we have produced because of the decisions we made before the start of the year and adjustments made along the way. Speaking with Natural Gas business leaders over the last few weeks, it turns out I’m not alone in such assessment; all of us keen to plot a sound course for 2023. ROI is a big deal for us at nGenue as it is for the companies who consider nGenue for adoption. With so many trainwreck ETRM implementations in the market, no one wants to have a similar experience and so it’s not surprising that we are often asked, “What kind of ROI can we count on if we make an investment in nGenue?”
It’s the kind of question that can only be answered with details of and reference to nGenue user experiences. So, when asked, we strive to supply non-confidential information of a comparable nGenue-using company’s experience. For the sake of this blog and its title, let me share the story of a Retail and Wholesale natural gas business that has, thus far, achieved >20x growth after “taking a chance” with nGenue. A word of caution … You may find similarities to your own organization and be overcome with the urge to realize a similar outcome.
Our relationship with this client began a little more than 15 years ago. At the time, it was a C&I natural gas marketer just beyond the startup phase with ~100 meters, operating in only a few states, on only a few LDCs. And it was struggling with slow business growth, caused by what executives dubbed, “excessively manual day-to-day operations”, which translated into a lack of competitiveness and costly staff overhead. Everything was managed via spreadsheets and a couple single-function software applications, none of which were connected or auditable. Something as simple as a change in a customer’s account could take ten different data entries and several different staff member’s touch. If one of its many complex Excel models was incorrect, it could take several weeks to track down the issue, all while negatively impacting margins. Although not a large organization at the time, it took a considerable amount of labor to keep the business running, as it had to ensure each, and every small process was correctly carried out on a daily basis. This business model wasn’t scalable, and it was recognized that changes in operational practices and the tools being used were required. Around this time, nGenue came into view.
In nGenue, it discovered a software application that had been designed by a natural gas business for its own natural gas-specific operational requirements. Remarkably, out of the box, nGenue offered completely integrated, end-to-end functionality supporting the needs of front office, mid-office and back-office business functions, with all operational data housed in a single, central database, enabling all staff members to draw from the same data, simultaneously.
For the client, nGenue’s end-to-end solution enabled consistency across business processes, while eliminating staff fire drills that had previously bogged down operational productivity. Seamless integration from one business function to the next provided access to the data needed when it was needed. EDI was all built-in, speeding market entry, with relative ease and lower risk. Newfound efficiencies were realized, as hunting down data and loading data sets into many different places became a thing of the past. And, with a central repository for all operations data, error-prone human risk elements were removed, standardized reporting was established, as were controls throughout the entire customer lifecycle.
Since its decision more than 15 years ago, the business has achieved greater than 20x growth to over 2000 meters across more than 24 states and 70 LDCs. Operational performance has improved across all aspects of the business atop of a solid foundation for growth and scalability. You should know that this outcome isn’t an anomaly … all nGenue clients experience top and bottom-line growth that is much improved from before nGenue adoption.
End Users, Producers, LDCs, Marketers, Pipelines, and Utilities face increasing competitive and compliance pressures, requiring increased operational efficiency, data integrity and process improvement. Their operational systems must support this, but most don’t. Engage us and we’ll show you how to make a breakthrough. It’s what we do for natural gas companies, and we are experts in our field.
~Ken
