12/1/2016 6:41:41 PM -
How can suppliers differentiate themselves beyond having the lowest price in extremely competitive deregulated markets? One way is through operational excellence. This requires timely execution of enrollments, drops and customer information maintenance such as rate changes and tax exemption status to ensure accurate billing. Also to closely follow developments in changing standards for net metering and the increased need for interval usage. The key to operational excellence is to stay informed on the everchanging market requirements to identify regulatory changes as early as possible, to understand the full impact on systems and processes and to provide as much lead time as possible to operational teams to prepare and validate effective change management.
Since starting MarketWISE, I have had little time for golf, however I can equate operational excellence to my constant struggle to break 100 on a challenging course. My inability to avoid the double digit hole is much like a billing error that leaves little chance to meet customer expectations if cashflow has been compromised. It takes a lot of birdies to compensate for a 10. Stay under Par by staying informed and managing market changes! Ask us how MarketWISE can help!