In addition to the traditional energy procurement channels, Patriot Energy now has the ability to utilize Reverse Auction technology. Through this unique approach Patriot can manage its clients’ energy supply needs and create optimal savings opportunities in a whole new way.

Strategic & Intelligent Energy Procurement

Depending on the size and scope of your business need, the entire RFP process could take anywhere from one to six months, which is why, for many businesses and government entities, the rigorous RFP process is one of pure dread.

Luckily, the entire process became remarkably simpler with the invention of the reverse auction. Over the past few years, increasingly more businesses have begun utilizing the new technology to streamline the RFP process and save over 85% of employee time on average.

Procure Benefits

All vendors can participate simultaneously, ensuring that the lowest price is achieved while significantly reducing time.

• Eliminate the Back and Forth
  
  All vendors can participate simultaneously, ensuring that the lowest price is achieved while significantly reducing time.

• Participation is Free
  
  You will never have to worry about out-of-pocket expenses to conduct a Reverse Auction.

• Detailed Summary and Savings
  
  To help make your decision easier, every auction comes with a detailed summary and cost comparison analysis.

• Save Time and Resource
  
  Your time is valuable, which is why we ensure auctions only last for 5-10 minutes on average.

• Full Transparency
  
  You will see every offer that is provided by all participating vendors.

• Live Auction Replay
  
  Patriot provides you with a video recording of your auction event to ensure compliance for any regulatory audits.

• No Obligations Terms
  
  You can sign a new contract with your preferred vendor, wait for another time to run a new auction, or simply not contract at all.

• Equal Terms
  
  Patriot Energy ensures that suppliers competing for your business offer identical products – meaning no post-auction surprises.

How a Procure Works

Get real-time offers from the nation’s top energy suppliers, with terms and rates customized to your organization’s current needs and future forecasts.

1. Acquire Data

   Patriot Energy gains a full understanding of a client’s electricity & natural gas consumption, essential purchasing details, and the data required to recommend and / or develop optimal energy products.

2. Develop Market Strategy

   Patriot Energy will recommend the optimal energy product(s) for your business based on best-practice procurement strategies and your level of risk tolerance.

3. Indicative Savings Analysis

   After the initial RFP, Patriot Energy prepares a custom report comparing market conditions against current rates.

4. The Reverse Auction Event

   A Patriot Energy account executive will host and narrate the live reverse auction event on a conference call while it’s happening, providing insight on all suppliers bidding, commenting on the savings opportunities as they appear, and answering any questions.

5. Final Savings Review

   A final savings analysis based on the reverse auction’s results will be provided, providing the necessary data for making an informed decision.

6. Contract Execution and Post-Contract Management
   

   Upon selection of winning supplier(s) from the reverse auction, Patriot Energy will:

• Provide you with the appropriate supplier documents for execution
• Confirm contract receipt and booking by supplier upon execution
• Verify account enrollments as the start date approaches
• Continually advise on market conditions to manage energy risk throughout the term of the agreement. 

Contact Patriot today to learn more about Procure.

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