Simble launches Virtual Analytics App into UK market
Simble Solutions (ASX:SIS) is launching into the UK residential market after unveiling a disruptive new software product targeted at UK energy retailers — the Virtual Analytics App.
The app, which enables utilities to offer advanced analytics to end-customers, was presented at Utiligroup’s Innovation Showcase alongside the European Utility Week 2018 in Vienna, Austria.
SIS's app is built on the existing technology infrastructure of the Simble Energy Platform and represents a disruptive enhancement and potential gateway for mass market penetration into the UK residential space.
A highly scalable and low-cost solution, the app delivers remote analytics without the need for onsite hardware installations. Designed for energy retailers to offer white-labelled to their residential customers, it offers a market-leading energy dashboard connected to the smart grid.
Simble’s go-to market strategy is supported by a technology collaboration with energy service provider, Utiligroup Limited. Utiligroup handles data for over seven million underlying end-customers and services over 100 utilities and metering companies, with a range of software solutions to help energy retailers enter and grow in the UK energy market.
Virtual Analytics is expected to generate recurring subscription and software-as-a-service (Saas) revenues linked to the number of end-users using the app.
Smart meters and the smart grid form the foundation of the Virtual Analytics App, supplying the volumes of data from households and business. The data is captured and analysed by Simble’s powerful machine learning technology infrastructure, and the information is analysed multiple devices, from local diagnostic tools to highly complex planning instruments. The insights are then delivered to the end-user via the app.
There are now more than 70 energy retailers operating in the UK market, with competition sparked by the UK Government’s mandated rollout of smart electricity and gas meters. By 2020, the UK government has legislated deployment of 53 million smart electricity and gas meters to all homes and small businesses. The rollout is being led by energy suppliers, who are responsible for installing smart metering equipment. So far, 13 million smart meters have been installed, or 25% of the target.
With these changes will come rising demand for value added technologies such as the Virtual Analytics App, which allows utilities to differentiate themselves from competitors by offering smart analytics solutions to their customers, and in turn use the data to identify and drive new revenue opportunities.
Commenting on the launch, Simble CEO, Fadi Geha, said: “By digitising the customer experience, utilities can improve customer satisfaction, lower costs and increase revenues over the long-term. As competition intensifies and consumers are empowered by their smart meters, the Virtual Analytics App offers a source of differentiation for the next generation of utility. Our partner Utiligroup services over 80% of the utilities market and we look forward to helping these energy retailers transform themselves ahead of the curve using our disruptive software technology.”
Mark Coyle, Chief Strategy Officer at Utiligroup, commented: “We are excited to be working alongside Simble, a partner whose commitment to make utilities smarter for everyone in the digital age is aligned closely with our own. The Smart DCC (Data Communications Company) will bring profound changes to the energy landscape in just the next few months through secure, interoperable smart metering at scale and we are confident that end-customers will benefit from the energy understanding, control and innovation this unique value proposition creates.”