Energy usage is divided into four separate sectors: residential, commercial, transportation, and industrial. We use energy to heat and cool our homes, keep our offices lit (at least pre-COVID-19), and even drive cars. In 2019 alone, the amount of energy used in the United States accounted for approximately 3.9 trillion kilowatt-hours (kWh) of usage. Businesses known as energy providers handle the disbursement of energy across the country.
Energy retailers are also known as retail electric service providers. They represent the final sale of electricity or energy from the point of being generated to the actual consumer. This represents the fourth step in the delivery of energy to end-users. To succeed in attaining this goal, energy providers need to be properly equipped with specific instruments. Most businesses have a general set of tools needed to succeed (email software, timesheet apps, accounting software, and the like.), but energy retailers require a specific set of tools to succeed in such disbursement to end-users. Let’s take a look at which tools energy retailers use.
Computer Software
Computers (desktops and laptops) have become a necessary tool in keeping many business enterprises moving forward. Computers are used for e-learning, marketing, telecommuting, document processing, organization, research, and storage. To allow computers to perform specific functions like these, computer software is installed on these devices.
There are general forms of computer software, including programs like Microsoft Office, Google Workspace, and similar tools. These can be used in a variety of different areas. For energy retailers, there are more industry-specific pieces of software that can help these businesses to perform to peak capacity. One of these pieces of software includes Quixotic360. This software is a SaaS (software as a service) platform for energy retailers. Quixotic360 allows for communication with energy companies when it comes to everything related to processing, automating the generation and exchange of XML files in a bi-directional and end-to-end manner. This technology allows energy retailers to perform at the best level possible, never disrupting the energy company’s workflow.
By utilizing software like Quixotic360, companies in the energy industry have the ability to have a single repository of information, and they receive real-time processing reports. In addition to this, such software allows for automatic file processing and provides the ability to integrate smoothly with third parties. By taking this first step with adding such software tools to their businesses, many energy retailers set themselves up for success in the long run.
Business Insurance
Just as individuals require insurance for their cars, homes, and even themselves, businesses also require this form of financial protection. Whether you’re a small business owner or a CEO of a massive Fortune 500 company, it’s best to invest in business insurance. As a business owner, you want to protect your small business, and this is the best way to do so. This is something that you’ve put a lot of time, money, and sweat into. You’ve come a long way from the time where your energy retailer business was just an idea that you had. It’s now a living, breathing thing which needs to be protected. Business insurance can help with that.
The first thing you’ll want to do is visit an insurance agent to find out what business insurance options you have. Get a small business quote, and find out what type of coverage is best for your energy company. Do you require professional liability insurance or general liability insurance? In the case of an on-the-job accident, can your business insurance company provide worker’s compensation, liability insurance, medical cost coverage, bodily injury coverage, personal injury coverage, and paid time off for your employees? Making sure that employees at your job are covered with such forms of business insurance can also keep morale high, as workers realize they and their livelihood will be taken care of in the case of an accident.
Business insurance is a great tool to have for any energy retailer. Having this form of coverage or protection will ensure that your business stays safe, leaving you to focus on the job of running the company successfully.
