BidEnergy recruits The Salvation Army for energy-spend conservation

BidEnergy ASX BID The Salvation Army electricity natural gas

BidEnergy (ASX: BID) has inked an agreement to provide its energy-spend lifecycle management services to The Salvation Army in order to monitor its electricity and natural gas usage.

The technology company said the Australian charity group would use the system in its national portfolio of buildings, shops and community support facilities.

BidEnergy has added a number of high-profile clients to its customer list in the last four months, signing Singtel Optus as automation software client late last month, and adding leading global brand Berkshire Hathaway in the US.

BidEnergy managing director Guy Maine welcomed the company’s latest customer acquisition, “We are delighted to be able to assist (the Salvation Army) in identifying improvements across their energy portfolio to ensure as much money as possible goes towards more meals, shelter and support for those in need,” he said

The Singtel sign-up last month took BidEnergy’s annualised subscription revenue to A$2.16 million.

While not commenting on the size of the Salvation Army contract today, BidEnergy revealed its annualised subscription revenue had grown to A$2.4 million, a gain of about $240,000 since March 28.

The company has grown its annualised subscription revenue 32% per cent from $1.8 million a year since 31 December.

BidEnergy’s open-ended Salvation Army contract begins this month, with the energy technologist planning to use its Robotic Process Automation system to “deliver value at each stage of the (Salvation Army) lifecycle with greater speed, accuracy and savings”.

The Robotic Process Automation system will be used to nationally consolidate, capture and validate Salvation Army’s power and gas accounts.

“The Salvation Army will benefit from automating the payable function, discovering cost reduction opportunities, and drive further cost savings from industry best practice tendering for the renewal of electricity and natural gas contracts nationally,” BidEnergy predicted.

Mr Maine revealed BidEnergy’s stable of Australian and international brands now included 51 major clients.

“It is exciting to see that there is a deeper level of understanding within business that more sophisticated purpose-built robots can add incredible value targeting more complex problem areas such as energy-spend management,” he said.

BidEnergy securities gained 16.7% to A$0.035 by mid-afternoon.

Filip has written in both Australia and abroad during his career, covering everything from the global economy, politics and geopolitical issues to commodities and small cap stocks on the ASX.