Næringskraft automates settlement and invoicing using a customized platform from Cegal

Editorial staff Cegal want to build a stellar nextgen tech company that enables a more sustainable future, and shape the digital future by turning complex IT into digital success stories.

05/16/2023 |

When Næringskraft needed a system to automate settlement and invoicing of complex electricity agreements, Cegal was chosen as their technology partner. The collaboration has been seamless from the very beginning, according to Ingeborg Hegland at Næringskraft.

Næringskraft is a power broker for the business market, negotiating favorable electricity agreements for large customers and providing solutions for metering, distribution, and invoicing of electricity consumption to their tenants.

"The distribution of electricity costs in commercial buildings is difficult and time-consuming. We assist our customers with various solutions for metering, distribution, and invoicing so that they don't have to handle it themselves. At the same time, we ensure that tenants only pay for the electricity they actually consume. This approach is both fair and encourages energy efficiency, promoting sustainability," Ingeborg Hegland, Portfolio Manager at Næringskraft explains.

Typically, electricity costs in commercial buildings such as office spaces and shopping centers are allocated based on a static key, using factors like area and other parameters. However, such allocation methods do not foster engagement in becoming more energy-efficient.

– There is a strong desire in the market for individuals to have the ability to influence their own consumption.

Ingeborg Hegland, Managing Director in Næringskraft

Hegland explains that she reached out to Cegal to obtain a system that could automate some of the processes related to data collection, settlement, and invoicing. In collaboration with Næringskraft, Cegal has developed a flexible, modern cloud-based system for distribution, settlement, and invoicing of electricity within a span of three to four months.

Cegal was the only provider capable of delivering the solution

Throughout the process, the team from Cegal has demonstrated not only excellent knowledge of the power market and the energy industry but also strong technological and platform expertise, says Hegland.

– We conducted thorough market research for technology vendors and discovered that only Cegal could deliver what we desired.

Ingeborg Hegland, Managing Director in Næringskraft

The framework for the solution Næringskraft desired was developed within a few weeks. The Software as a Service (SaaS) platform, named Cegal Energy Settlement, is a flexible and scalable settlement platform for energy products that automates the process from metering to invoicing.

"We have obtained a user-friendly system that is tailored to our needs. Since Cegal has extensive knowledge of the power market, they understand the challenges our business faces. Combined with skilled developers, we quickly obtained a product that meets our requirements. Furthermore, the platform can be adapted to future needs. The power market is undergoing significant changes, including new ways of producing and delivering electricity. Additionally, there are ongoing market regulations, such as new pricing structures," says Hegland.

An understandable invoice leads to faster payment

Hegland also emphasizes the layout and information on the invoice, which enables end customers to easily understand the different elements of the bill. This clarity ensures that invoices are paid on time without customers needing assistance from customer service to understand the bill.

Cegal Energy Settlement automatically settles energy costs based on current electricity prices and grid tariffs, and sends out clear invoices to tenants. The settlement platform automates several tasks that were previously performed manually at Næringskraft.

– Many property managers rely on spreadsheets and manual processes when calculating electricity invoices due to the complex pricing structure.

David Werner Jacobsen, Product Market Specialist at Cegal

This is particularly relevant for customers with spot pricing. Manual processes are time-consuming, and there is a greater risk of errors or delays if key personnel are unavailable due to illness or other factors. Cegal Energy Settlement enables faster invoicing, leading to improved liquidity and cash flow, says David Werner Jacobsen, Product Market Specialist at Cegal.

"The platform provides us with growth opportunities that we wouldn't have had without hiring additional staff. Now we can handle a larger volume in a more secure manner. Additionally, it allows us to allocate resources to more value-added tasks, such as closer and better customer follow-up," says Ingeborg Hegland at Næringskraft.

Currently, the system is used to streamline settlement and invoicing processes for various office and commercial buildings, including those in Skøyen in Oslo.

SUCCESS STORY

Watch the video below and learn about the value the project has provided to Næringskraft.