The recent acquisition of UK energy management company, Optima Energy Systems by Bill Identity highlights the growing trend within the sector towards much smarter, and more widespread use of data and analytics to drive efficiencies.
Bill Identity’s market-leading robotic processing automation (RPA) platform is unrivalled globally and manages the complexity of the UK energy bill cost stack in ways beyond the realm of human capability. This means that clients in the UK – both direct users and customers – now have a way to simplify and streamline their utility bill expenses, notwithstanding frequently changing costs on energy taxes, from distributors or from networks that all feed into this complex cost stack, and all this at scale.
As a disrupter in the space, the goal is simple: to use their RPA proprietary technology to disrupt the status quo of how utility bills are validated and managed and data is collected and audited. Moving forward, as households become more energy aware and as companies move towards net-zero, having full auditability from your energy bill will be critical for sustainability strategies.
Optima is one of the UK’s leading energy management software providers and has established a strong reputation and brand recognition within the UK public and private sectors. Optima’s software platform provides bill validation, budgets and accruals, and tenant and self-billing, via a predominantly self-service model. Bill Identity already has a long-term relationship with Optima, having provided data collection services to support a limited part of their core business.
Optima directly manages energy data for 51 customers who in turn are responsible for over 196,400 meters under management across the UK. The Acquisition will see Bill Identity integrate key elements of Optima’s platform into its Robotic Processing Automation (“RPA”) platform to build a ‘best of breed’ utility bill management solution for the UK and European markets.
Bill Identity’s Managing Director, Guy Maine, said:
“We are very excited to take the next step on its journey to becoming a major global player in the utility bill management sector. The acquisition of Optima will accelerate our growth and penetration in the UK market, and offers the potential for expansion in both the UK and European markets. We welcome the Optima team and customer base and look forward to bringing value through what will be a best of breed RPA platform.”
Optima Managing Director, Steven Wright, commented:
“I am proud to say that Optima has joined the Bill Identity family, which is a natural home for the Optima business. Bill Identity and Optima both have a customer focused approach to delivering innovative software solutions. Bill Identity’s global client base gives the combined companies the opportunity to deliver a market leading platform for Utility Bill Management, Procurement, Carbon & Sustainability, and Tenant On-Charging. I look forward to working with the Bill Identity team as we move into 2021 and beyond.”
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