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NUS Case Competition Slide Deck

This document outlines a strategy for Singapore Power Group to evolve with changes in the energy market. It proposes developing a digital application called Project SPARC to connect customers and retailers through value-added services like sustainability solutions, reliability tools, and a marketplace. The strategy also involves acquiring an energy audit company, strengthening cybersecurity, hiring additional staff, and implementing a branding campaign centered around connectivity, reliability and sustainability. The goal is for Singapore Power Group to remain relevant long-term and improve lives in Singapore.

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Singapore Power Group: A Sustainable Future Rubicon Consulting Group Kathryn Corasaniti, Cody Hodge, Ryan Owens, Emily Fordice September 8th, 2017
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Agenda Risks and Mitigation Financials Marketing Plan Timeline Project SPARC Strategic Plan Goals Problem Identification Internal Analysis Operating Landscape Implementation Strategy Situation Bottom Line
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Power Generation Non-Contestable Customers Contestable Customers 1.3 Million More Contestable Customers By 2019… Electricity Retailers Market Support Service Licensee SP Group Power Grid Liberalizing Market Increasing Energy Demand 37% Total consumption in the last 10 years 31% Population in last 10 years Current Situation
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Core Competencies Scope Experience Data Reliability
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Reality Check How do we evolve with the energy market? Need to pivot out of retailer role Cannot ignore long term demand needs Embrace changes in sustainability Opportunity to act as connection point
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Executive Summary Generate Revenue Build a sustainable future Objective Remain relevant long-term and improve the lives of Singaporeans Key Issues Goals Liberalization of the market changes our role Rapidly evolving technology Increasing demands on the power grid Improve Lives of Singaporeans Strategy Connect customers & retailers with value-add services
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Our New Role in a Liberalized Market Strategy: Connect customers & retailers with value-add services RetailersCustomers
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Project: SPARC Connect and engage digitally Develop a comprehensive app to meet customer needs and deliver services Sustainability solutions Push energy reduction and use household energy consultants as an additional service Connect customers & retailers with value-add services Provide reliability and security Increase and maintain security of digital data and power grid Sustainable Power And Reliable Connection
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Engaging Customers Customer Retailer • Chat-bot communication • Request and track maintenance • Gamified energy goals • Request energy audit • Recommend energy saving products • FindYour Perfect Retailer • White label version for the retailer • Details through Find Your Perfect Retailer • Integrated data direct to retailers • Prevents retailers from developing their own
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Digital Application Improvements What do our customers want? Our App • Easy and personal log-in • Seamless integration between SP Group and retail provider • Add Find a Retailer at the bottom for those not looking to log-in but just want more information • List of retailers and filterable options to help customers search and sign-up • Create a white labeled interface for interested retailers Log-in Usage & Billing Customer Services Retail Connection Save&Sustain
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Digital Application Improvements • Ease of payment, consistency, integration with retailer • Savings • More engagement • Add Save onYour Next Bill • Redirect to marketplace for buying energy efficient appliances and installation services • Give personalized savings of how your bill will look like in the future if consumption stays flat but you install products • Add Request an Energy Audit Log-in Usage & Billing Customer Services Retail Connection Save&Sustain What do our customers want? Our App
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Digital Application Improvements • Meter readings in context, user-friendly language • To engage with their meter • Add SetYour Energy Goals • Allow customers to set their monthly goal and track their progress throughout the month • Goals can be cost conscious or sustainably focused • Incentives through discounts on green appliances • Add Green Scorecard • Add Cost Cutting Suggestions based on where they use the most energy • Gamify app by adding achievements, missions, incentives Log-in Usage & Billing Customer Services Retail Connection Save&Sustain What do our customers want? Our App AchieveGoals Decrease energy use by 25% Lower bill by 10 daollar You earned the energy saver medal!
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Digital Application Improvements • 24/7 access to help when they need it • To feel like an individual, and not just another number • Introduce Chat Now service that utilizes chat bot for frequently asked questions and has the option to direct chat a representative • Request Maintenance and track fulfillment of request through a ServiceTracker • Maintenance representatives can update tracker using their tablets Log-in Usage & Billing Customer Services Retail Connection Save&Sustain Chat Now Request Received Maintenance On the Way Request Completed What do our customers want? Our App
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Digital Application Improvements • Transparency on the retailer market • To make a personalized choice • FindYour Perfect Retailer • Complete list of retailers • Filter by preferences • Links to their service app/page • Set Up instructions to switch retailers Log-in Usage & Billing Customer Services Retail Connection Save&Sustain What do our customers want? Our App Retailer
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Engaging Retailers Customer Retailer • Chat-bot communication • Request and track maintenance • Gamified energy goals • Request energy audit • Recommend energy saving products • FindYour Perfect Retailer • White label version for the retailer • Details through Find Your Perfect Retailer • Integrated data direct to retailers • Prevents retailers from developing their own
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Application Serving Retailers • Flexibility and differentiation • Lower start-up costs • White labeling • Fully developed customer interface • Option to use our maintenance platform and customer care services Log-in Customer Services What do our retailers want? We Offer Usage & Billing Save&Sustain Retail Connection Retailers DevelopRetailers Develop RetailersUseSPApp Annual Licensing Fee Annual Maintenance Development Cost $1.2 M $1 M $1.5 M
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Acquire an Energy Audit Company Extensive market influence and brand in Singapore Able to implement large scale energy consumption reduction systems Generates sales and revenue for SP Wisely invests in a company that is already successfully implementing sustainable solutions SP Group acquires a competency without starting from scratch BBP gains better recognition and more business Singapore Power has an interest in promoting sustainable investments in Singapore to help customers. Barghest Building Performance (BBP) wants to deliver energy consultation in Singapore SP Group Has the Market Presence BBP Promotes Sustainability
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Staying Secure Securing Our Digital App Securing Our Infrastructure Shield between internet and IT network Shield between IT network and critical infrastructure Critical data is stored as “Islands” • Proven track record: previously worked with UOB and the UOB MightyApp • Vital to protect our customers against cyber threats and to maintain our reputation of reliability Three layers of soft factor authentication for more secure login Protects payments using a cloud based system Protects identity and personal data
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE SPARC Operational Needs HR Additions • Hire 40 more developers over three years • Five key marketing specialists to carry out plan ITTeam • Outsource cyber security toV-Key • Upgrade tablet software for maintenance to interface with app tracker Customer Service Representatives • Delegate customer service representatives to each white labeled app Consultants • Acquiring BBP will precipitate an influx of energy consultants • Must employ change management strategies
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE SPARC Branding Connectivity Reliability Sustainability Connecting customers and retailers in a changing market Reliably managing billing and delivery electricity Discovering and investing in new technologies Improving the quality of life for Singaporeans through
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Brand Implementation Outcome: Developing our brand will help the SP Group to evolve with the changing landscape of the energy market in Singapore Social Media Expansion • Use Instagram to tell rich stories of SP Group‘s sustainability initiatives • Engage key influencers • Write a blog to discuss new topics in energy sector Word of Mouth • Enhance the ownership experience of customers • They will tell their friends to stay with SP Services Earned Media • By investing in green initiatives, SP Group will gain media coverage • Implementing new cooling systems in major event spaces • Producing industry reports A clear brand message facilitates a strong presence in the minds of the customer.
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Marketing to Customers Re-Focusing Our Message to Address Specific Audience Message: “Customers are our priority and we want to foster a positive relationship.” Channel: Distribute feedback mechanisms such as ratings, surveys, and customer service representatives. Tactics: Providing feedback opportunities creates a dialogue and drives insights for potential improvements. Goal: Create an environment where customers feel valued and SP can gather feedback data. Step 2: Engaging Retailers Step 1: Engaging Customers Step 3: Promote Sustainable Energy Step 1: Engage customers and inspire brand loyalty Engage and Electrify Putting the Power inYour Hands
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Step 2: Engage Retailers Step 1: Engage Customers Engage and Electrify Step 3: Promote Sustainable Energy Marketing to Retailers Re-Focusing Our Message to Address Specific Audience Message: “We want to continue to help you grow your business” Channel: Sales directors will introduce licensing agreements for customer service centers and app development Tactics: Focusing on the costs new retailers can save and the improvement of their customer’s experience Goal: Increase competition in the energy sector and to improve the quality of service for the final customers Step 2: Develop relationships with retailers Power the Nation,Together
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Step 2: Engage Retailers Step 1: Engage Customers Step 3: Promote Sustainable Energy Marketing Sustainability Re-Focusing Our Message to Address Specific Audience Message: “We care about finding smart, sustainable solutions to that will lead to a better future” Channel: Primarily through social media marketing, earned media, and sponsorships/investments Tactics: Making smart investments in promising technology research and lead by example Goal: Establish SP Group as a major player in the search for sustainable living solutions Step 3: Promote our brand by investing in sustainability Engage and Electrify #ElectrifyInnovation #SaveAndSustain
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE SPARCTimeline Enter into talks with BBP Value Add Services Change Management Implementing marketing, application, value added services, and security into one key plan 2017 2018 2019 2020 Marketing Begin personal selling of licensing to retailers Implement social media marketing and continuous analyze data and adapt Plan a clear branding message and compile content Collect data on brand perception and current strategies Train sales staff Train SM staff Implement V-Key securities Security Draw up contract with V-Key Prepare for smart meter implementation Upkeep andmaintenance of security Upkeep andmaintenance of security Integrate cyber security into smart grid Application Collect ratings feedback for the app Develop new features of our application License/white label application to retailers Implementation of licensed apps Continuous maintenance of licensed application Acquire BBP Begin expanding energy consultations Develop pricing model and new development processof licensing Enter into talks with BBP Value Add Services Change Management Acquire BBP Begin expanding energy consultations Develop pricing model and new development process of licensing Application Collect ratings feedback for the app Develop new features of our application License/white label application to retailers Implementation of licensed apps Continuous maintenance of licensed application Implement V-Key securities Security Draw up contract with V-Key Prepare for smart meter implementation Upkeep andmaintenance of security Upkeep andmaintenance of security Integrate cyber security into smart grid Implement V-Key securities Marketing Begin personal selling of licensing to retailers Implement social media marketing and continuous analyze data and adapt Plan a clear branding message and compile content Collect data on brand perception and current strategies Train sales staff Train SM staff
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE SPARC Budget $ 23,280,500 is a relatively inexpensive way to pivot our business Budget Considerations Total Net Working Capital $ 582,800,000 Total Cash & Cash Equivalents $ 1,630,200,000 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 2017 2018 2019 Application Sustainability Marketing SecurityTotal Upfront Needs Application Development $ 6,445,000 Sustainability Consultants $ 10,000,000 Marketing $ 3,325,500 Security Improvements $ 3,600,000
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE What does success look like? Number of Licensed Retailers 15% Half of retailers will use our licensed and billing services post-liberalization Households Receiving Energy Consultations Growth % in Equilibrium By marketing and investing in sustainable power, we will see new appliances installed in homes Population Growth and Energy Growth 5% Through data analytics, we will determine if energy growth decreases to equal population growth SP Services Revenue 0 SP Services revenue will increase due to the licensing and consulting services we are adding KPI Metric Description Number of Data Breaches 50% By implementing stronger security measures we hope to see zero serious security breaches
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE New Revenue Streams Generate $39 million in profit by 2021 $(2,000,000) $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 2018 2019 2020 2021 Licensing App Fee from Retailers Installation of Sustainable technology
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Risks and Mitigations Risks Mitigation Significance 1 The acquisition may fail Given the high failure rate of private acquisitions, there is a risk that we may waste efforts trying to acquire BBP. • Explore other options such as mutually beneficial partnership or equity stake • Launch our own energy saving consultancy 2 Retailers prefer to create their own apps Retailers may opt for autonomy from SP Services and our plan to white label our may fall flat. • Develop strong personal selling relationships to build trust. • Keep prices low to persuade retailers 3 Cyber security breach As much as we can prepare, there is always a chance that there could be a cyber security hack. • Develop a contingency plan so we are prepared to recover quickly from a breach. • Create a strong brand image that it won’t affect our sales. 4 Energy costs could increase If If energy costs increase, then we will face dissatisfaction among our customers. • Continuing to extract ourselves from the retail market will disassociate our brand from the rise and fall of energy prices. Probability Impact Probability Impact Probability Impact Probability Impact
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Additional Considerations Government ownership interest Limited power capacity for a growing population New technologies disrupting the market Which new energy sources are important to the government that we invest in? How can we convince people to use less energy during peak times? Which technologies will affect the market and which will fade?
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Index Introduction • Cover • Agenda Situation • Current Situation • Core Competencies • Reality Check Strategy • Executive Summary • Our Role in a Liberalized Market • Project: SPARC Implementation • Engaging Customers • Digital Application Improvements: 1 • Digital Application Improvements: 2 • Digital Application Improvements: 3 • Digital Application Improvements: 4 • Digital Application Improvements: 5 • Engaging Retailers • Application Serving Retailers • Acquire an Energy AuditCompany • Staying Secure • SPARCOperations • WhoWe Are • Brand Implementation • Marketing to Customers • Marketing to Retailers • Marketing Sustainability • SPARCTimeline Bottom Line • SPARC Budget • KPIs and Metrics • Financial Outcomes • Risks and Mitigation • Additional Considerations Backup • Alternatives • SWOTAnalysis • Detailed Budget • Cost Structure of Retail Licensing • Data Analytics • Operating Landscape Analysis • What Does Sustainability Mean for SP? • Acquire and Energy AuditCompany: Details • Energy Consulting Service Process • Market Share for Electricity Retail • Total Consumption of Energy in Households • Electricity Consumption by Sub-Sector • Annual ElectricityTariffs by Component • How Energy Moves:Generation to Customers • The Product Lifecycle • Technology Product Lifecycle • RGU PerformanceAnalysis • Sources
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Recapture Retail Market Share - Minimize losses - Not feasible - Not in line with long-term sustainability - Cannot compete with low prices - No longer the “go-to” for consumers Launch In-house Consultation Service - Produce new revenue stream - Accomplish sustainability - Expensive -Take a long time to receive return on investment -Create more competitors Develop New Apps for Retailers -More customization for the retailer - Generate more revenue - Opportunities for add-on services -We already have the infrastructure in place, so we should use it Focus on Electric Cars - Sustainability buzzword - High cradle to cradle environmental destruction - Require new infrastructure - Low revenue generation Alternatives PRO CON
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Detailed Budget
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Cost Structure for Retail Licensing
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE DataAnalytics App Ratings Strategic Investments App Approval Developmental Changes Meter Readings and Industrial Data Consumer Surveys Brand Perception Social Media Collection Decisions
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Operating LandscapeAnalysis Customer Needs Our Changing Role in Liberalization • Market size in 2018: 1.3 million non-contestable • What do they care about? • Affordable prices • Options- specializing for their needs • Customer service help when needed • Sustainable solutions for improving society Increasing Energy Demand EvolvingTechnology • Sustainability initiatives • Improved digital services • Increasing use of electric cars • Transition to more energy efficient lighting and appliances • Potential of implementing blockchain networks • Growing popularity of natural gas and solar power 37% Total consumption in the last 10 years 31% Population in last 10 years 0 5 10 15 20 25 30 2013 2014 2015 2016 2017 2018 Number of Competitors Decrease in SP market share since 2011 6%
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE What does Sustainable mean for SP? Enhance the quality of life Renewable energy sources Goal: Provide electricity to enhance life of Singaporeans long-term Health and activeness Invest in sustainability
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Acquire an Energy Audit Company: Details SP Group Barghest Building Performance Market New Service Facilitate Retraining Rebrand BBP under SP • Earned demand and press releases • Market to high energy consumers • Retrain BBP employees to educate them on SP Group’s corporate profile, values, and procedures • We will call them SP Savers • Rebrand them under SP Group official logo savers
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Energy Consulting Service Process savers Step 1 •Receives request for service •Can be in a household or in a business Step 2 •Visit house or business and conduct full consumption analysis using meter data and construction inspection •Make recommendation on energy saving measures Step 3 •Once agreed upon energy saving measures, customers have the ability to request financing •Financing is allocated Step 4 •Installation of energy saving systems
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE SWOT SWOT WeaknessesStrengths Threats • Take advantage liberalization • Introduce new revenue streams • Acquire an energy consultancy • E-commerce and social media trends • Experienced business units • Strong existing partnerships • Own the infrastructure • Multiple subsidiaries throughout the energy industry • Good brand recognition • Inflexible infrastructure • Dependency on power generators • Must adhere to government regulations • Competition • Market liberalization • Rapidly changing technology • Environmental and cultural groups Opportunities
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Market Share for Electricity Retail
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Total Consumption of Energy in Households
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Electricity Consumption by Sub-Sector
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Annual ElectricityTariffs by Component
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE How Energy Moves: Generation to Customer
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE The Product Lifecycle
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Technology Product Lifecycle
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE RGU Performance Analysis
SITUATION STRATEGY IMPLEMENTATION BOTTOM LINE Sources http://www.tembusupartners.com/en/index.php/singapore-energy-services-startup-barghest-building-performance-secures-seven-figure-mezzanine-funding-from-pe-firm-tembusu-partners/ https://www.spgroup.com.sg/mobile-apps https://www.infosys.com/data-analytics/verticals/Pages/energy-utilities.aspx http://www.straitstimes.com/singapore/environment/how-will-singapore-power-the-future https://www.ema.gov.sg/cmsmedia/Publications_and_Statistics/Publications/SES%202015%20Chapters/Publication_Singapore_Energy_Statistics_2015.pdf https://www.spgroup.com.sg/what-we-do/electricity-and-gas https://www.ema.gov.sg/electricity_market_overview.aspx http://www.straitstimes.com/singapore/electricity-tariffs-to-increase-from-april-1 http://www.temasekreview.com.sg/downloads/ins-and-outs-of-temasek.pdf https://www.spgroup.com.sg/about-us/corporate-profile https://www.ema.gov.sg/cmsmedia/Licensees/Electricity_Licensing/Retailer/Guide_for_Prospective_Retailers.pdf https://www.spgroup.com.sg/wcm/connect/spgrp/ea560383-d6d8-4a92-9925- af27cce9462b/SP+Group+Annual+Report+FY1516.pdf?MOD=AJPERES&CONVERT_TO=url&CACHEID=ROOTWORKSPACE.Z18_M1IEHBK0MOUJ20ABQK7Q593U32-ea560383-d6d8-4a92-9925-af27cce9462b- lINZpPn https://www.mypower.com.sg/about https://www.spgroup.com.sg/what-we-do/billing https://www.ema.gov.sg/cmsmedia/Licensees/Electricity_Licensing/Transmission/SP_powerassets_licence.pdf http://www.businesstimes.com.sg/energy-commodities/potential-for-competition-electrifies-power-market http://www.sgc.org.sg/fileadmin/ahk_singapur/DEinternational/IR/diffIR/Electricity_market_in_Singapore_2014.pdf https://www.spgroup.com.sg/wcm/connect/spgrp/d6b37192-d4c0-4d06-a53d-7a8cb6b09630/%5B27062017%5D+SP+Group+poised+to+transform+into+power+sectors+Uber.pdf?MOD=AJPERES&CVID http://www.reddotpower.com.sg/customer-portal-payments-user-guide/ https://www.ema.gov.sg/cmsmedia/Handbook/NEMS_111010.pdf https://play.google.com/store/apps/details?id=sg.com.singaporepower.spservices&hl=en https://bbp.sg/what-we-do/ https://www.glassdoor.co.in/Salaries/singapore-software-developer-salary-SRCH_IL.0,9_IM1123_KO10,28.html http://www.itworldcanada.com/article/israels-guide-to-securing-the-national-grid/390343

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NUS Case Competition Slide Deck

  • 1.
    Singapore Power Group:A Sustainable Future Rubicon Consulting Group Kathryn Corasaniti, Cody Hodge, Ryan Owens, Emily Fordice September 8th, 2017
  • 2.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Agenda Risks and Mitigation Financials Marketing Plan Timeline Project SPARC Strategic Plan Goals Problem Identification Internal Analysis Operating Landscape Implementation Strategy Situation Bottom Line
  • 3.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Power Generation Non-Contestable Customers Contestable Customers 1.3 Million More Contestable Customers By 2019… Electricity Retailers Market Support Service Licensee SP Group Power Grid Liberalizing Market Increasing Energy Demand 37% Total consumption in the last 10 years 31% Population in last 10 years Current Situation
  • 4.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Core Competencies Scope Experience Data Reliability
  • 5.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Reality Check How do we evolve with the energy market? Need to pivot out of retailer role Cannot ignore long term demand needs Embrace changes in sustainability Opportunity to act as connection point
  • 6.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Executive Summary Generate Revenue Build a sustainable future Objective Remain relevant long-term and improve the lives of Singaporeans Key Issues Goals Liberalization of the market changes our role Rapidly evolving technology Increasing demands on the power grid Improve Lives of Singaporeans Strategy Connect customers & retailers with value-add services
  • 7.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Our New Role in a Liberalized Market Strategy: Connect customers & retailers with value-add services RetailersCustomers
  • 8.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Project: SPARC Connect and engage digitally Develop a comprehensive app to meet customer needs and deliver services Sustainability solutions Push energy reduction and use household energy consultants as an additional service Connect customers & retailers with value-add services Provide reliability and security Increase and maintain security of digital data and power grid Sustainable Power And Reliable Connection
  • 9.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Engaging Customers Customer Retailer • Chat-bot communication • Request and track maintenance • Gamified energy goals • Request energy audit • Recommend energy saving products • FindYour Perfect Retailer • White label version for the retailer • Details through Find Your Perfect Retailer • Integrated data direct to retailers • Prevents retailers from developing their own
  • 10.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Digital Application Improvements What do our customers want? Our App • Easy and personal log-in • Seamless integration between SP Group and retail provider • Add Find a Retailer at the bottom for those not looking to log-in but just want more information • List of retailers and filterable options to help customers search and sign-up • Create a white labeled interface for interested retailers Log-in Usage & Billing Customer Services Retail Connection Save&Sustain
  • 11.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Digital Application Improvements • Ease of payment, consistency, integration with retailer • Savings • More engagement • Add Save onYour Next Bill • Redirect to marketplace for buying energy efficient appliances and installation services • Give personalized savings of how your bill will look like in the future if consumption stays flat but you install products • Add Request an Energy Audit Log-in Usage & Billing Customer Services Retail Connection Save&Sustain What do our customers want? Our App
  • 12.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Digital Application Improvements • Meter readings in context, user-friendly language • To engage with their meter • Add SetYour Energy Goals • Allow customers to set their monthly goal and track their progress throughout the month • Goals can be cost conscious or sustainably focused • Incentives through discounts on green appliances • Add Green Scorecard • Add Cost Cutting Suggestions based on where they use the most energy • Gamify app by adding achievements, missions, incentives Log-in Usage & Billing Customer Services Retail Connection Save&Sustain What do our customers want? Our App AchieveGoals Decrease energy use by 25% Lower bill by 10 daollar You earned the energy saver medal!
  • 13.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Digital Application Improvements • 24/7 access to help when they need it • To feel like an individual, and not just another number • Introduce Chat Now service that utilizes chat bot for frequently asked questions and has the option to direct chat a representative • Request Maintenance and track fulfillment of request through a ServiceTracker • Maintenance representatives can update tracker using their tablets Log-in Usage & Billing Customer Services Retail Connection Save&Sustain Chat Now Request Received Maintenance On the Way Request Completed What do our customers want? Our App
  • 14.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Digital Application Improvements • Transparency on the retailer market • To make a personalized choice • FindYour Perfect Retailer • Complete list of retailers • Filter by preferences • Links to their service app/page • Set Up instructions to switch retailers Log-in Usage & Billing Customer Services Retail Connection Save&Sustain What do our customers want? Our App Retailer
  • 15.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Engaging Retailers Customer Retailer • Chat-bot communication • Request and track maintenance • Gamified energy goals • Request energy audit • Recommend energy saving products • FindYour Perfect Retailer • White label version for the retailer • Details through Find Your Perfect Retailer • Integrated data direct to retailers • Prevents retailers from developing their own
  • 16.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Application Serving Retailers • Flexibility and differentiation • Lower start-up costs • White labeling • Fully developed customer interface • Option to use our maintenance platform and customer care services Log-in Customer Services What do our retailers want? We Offer Usage & Billing Save&Sustain Retail Connection Retailers DevelopRetailers Develop RetailersUseSPApp Annual Licensing Fee Annual Maintenance Development Cost $1.2 M $1 M $1.5 M
  • 17.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Acquire an Energy Audit Company Extensive market influence and brand in Singapore Able to implement large scale energy consumption reduction systems Generates sales and revenue for SP Wisely invests in a company that is already successfully implementing sustainable solutions SP Group acquires a competency without starting from scratch BBP gains better recognition and more business Singapore Power has an interest in promoting sustainable investments in Singapore to help customers. Barghest Building Performance (BBP) wants to deliver energy consultation in Singapore SP Group Has the Market Presence BBP Promotes Sustainability
  • 18.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Staying Secure Securing Our Digital App Securing Our Infrastructure Shield between internet and IT network Shield between IT network and critical infrastructure Critical data is stored as “Islands” • Proven track record: previously worked with UOB and the UOB MightyApp • Vital to protect our customers against cyber threats and to maintain our reputation of reliability Three layers of soft factor authentication for more secure login Protects payments using a cloud based system Protects identity and personal data
  • 19.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE SPARC Operational Needs HR Additions • Hire 40 more developers over three years • Five key marketing specialists to carry out plan ITTeam • Outsource cyber security toV-Key • Upgrade tablet software for maintenance to interface with app tracker Customer Service Representatives • Delegate customer service representatives to each white labeled app Consultants • Acquiring BBP will precipitate an influx of energy consultants • Must employ change management strategies
  • 20.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE SPARC Branding Connectivity Reliability Sustainability Connecting customers and retailers in a changing market Reliably managing billing and delivery electricity Discovering and investing in new technologies Improving the quality of life for Singaporeans through
  • 21.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Brand Implementation Outcome: Developing our brand will help the SP Group to evolve with the changing landscape of the energy market in Singapore Social Media Expansion • Use Instagram to tell rich stories of SP Group‘s sustainability initiatives • Engage key influencers • Write a blog to discuss new topics in energy sector Word of Mouth • Enhance the ownership experience of customers • They will tell their friends to stay with SP Services Earned Media • By investing in green initiatives, SP Group will gain media coverage • Implementing new cooling systems in major event spaces • Producing industry reports A clear brand message facilitates a strong presence in the minds of the customer.
  • 22.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Marketing to Customers Re-Focusing Our Message to Address Specific Audience Message: “Customers are our priority and we want to foster a positive relationship.” Channel: Distribute feedback mechanisms such as ratings, surveys, and customer service representatives. Tactics: Providing feedback opportunities creates a dialogue and drives insights for potential improvements. Goal: Create an environment where customers feel valued and SP can gather feedback data. Step 2: Engaging Retailers Step 1: Engaging Customers Step 3: Promote Sustainable Energy Step 1: Engage customers and inspire brand loyalty Engage and Electrify Putting the Power inYour Hands
  • 23.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Step 2: Engage Retailers Step 1: Engage Customers Engage and Electrify Step 3: Promote Sustainable Energy Marketing to Retailers Re-Focusing Our Message to Address Specific Audience Message: “We want to continue to help you grow your business” Channel: Sales directors will introduce licensing agreements for customer service centers and app development Tactics: Focusing on the costs new retailers can save and the improvement of their customer’s experience Goal: Increase competition in the energy sector and to improve the quality of service for the final customers Step 2: Develop relationships with retailers Power the Nation,Together
  • 24.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Step 2: Engage Retailers Step 1: Engage Customers Step 3: Promote Sustainable Energy Marketing Sustainability Re-Focusing Our Message to Address Specific Audience Message: “We care about finding smart, sustainable solutions to that will lead to a better future” Channel: Primarily through social media marketing, earned media, and sponsorships/investments Tactics: Making smart investments in promising technology research and lead by example Goal: Establish SP Group as a major player in the search for sustainable living solutions Step 3: Promote our brand by investing in sustainability Engage and Electrify #ElectrifyInnovation #SaveAndSustain
  • 25.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE SPARCTimeline Enter into talks with BBP Value Add Services Change Management Implementing marketing, application, value added services, and security into one key plan 2017 2018 2019 2020 Marketing Begin personal selling of licensing to retailers Implement social media marketing and continuous analyze data and adapt Plan a clear branding message and compile content Collect data on brand perception and current strategies Train sales staff Train SM staff Implement V-Key securities Security Draw up contract with V-Key Prepare for smart meter implementation Upkeep andmaintenance of security Upkeep andmaintenance of security Integrate cyber security into smart grid Application Collect ratings feedback for the app Develop new features of our application License/white label application to retailers Implementation of licensed apps Continuous maintenance of licensed application Acquire BBP Begin expanding energy consultations Develop pricing model and new development processof licensing Enter into talks with BBP Value Add Services Change Management Acquire BBP Begin expanding energy consultations Develop pricing model and new development process of licensing Application Collect ratings feedback for the app Develop new features of our application License/white label application to retailers Implementation of licensed apps Continuous maintenance of licensed application Implement V-Key securities Security Draw up contract with V-Key Prepare for smart meter implementation Upkeep andmaintenance of security Upkeep andmaintenance of security Integrate cyber security into smart grid Implement V-Key securities Marketing Begin personal selling of licensing to retailers Implement social media marketing and continuous analyze data and adapt Plan a clear branding message and compile content Collect data on brand perception and current strategies Train sales staff Train SM staff
  • 26.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE SPARC Budget $ 23,280,500 is a relatively inexpensive way to pivot our business Budget Considerations Total Net Working Capital $ 582,800,000 Total Cash & Cash Equivalents $ 1,630,200,000 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 2017 2018 2019 Application Sustainability Marketing SecurityTotal Upfront Needs Application Development $ 6,445,000 Sustainability Consultants $ 10,000,000 Marketing $ 3,325,500 Security Improvements $ 3,600,000
  • 27.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE What does success look like? Number of Licensed Retailers 15% Half of retailers will use our licensed and billing services post-liberalization Households Receiving Energy Consultations Growth % in Equilibrium By marketing and investing in sustainable power, we will see new appliances installed in homes Population Growth and Energy Growth 5% Through data analytics, we will determine if energy growth decreases to equal population growth SP Services Revenue 0 SP Services revenue will increase due to the licensing and consulting services we are adding KPI Metric Description Number of Data Breaches 50% By implementing stronger security measures we hope to see zero serious security breaches
  • 28.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE New Revenue Streams Generate $39 million in profit by 2021 $(2,000,000) $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 2018 2019 2020 2021 Licensing App Fee from Retailers Installation of Sustainable technology
  • 29.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Risks and Mitigations Risks Mitigation Significance 1 The acquisition may fail Given the high failure rate of private acquisitions, there is a risk that we may waste efforts trying to acquire BBP. • Explore other options such as mutually beneficial partnership or equity stake • Launch our own energy saving consultancy 2 Retailers prefer to create their own apps Retailers may opt for autonomy from SP Services and our plan to white label our may fall flat. • Develop strong personal selling relationships to build trust. • Keep prices low to persuade retailers 3 Cyber security breach As much as we can prepare, there is always a chance that there could be a cyber security hack. • Develop a contingency plan so we are prepared to recover quickly from a breach. • Create a strong brand image that it won’t affect our sales. 4 Energy costs could increase If If energy costs increase, then we will face dissatisfaction among our customers. • Continuing to extract ourselves from the retail market will disassociate our brand from the rise and fall of energy prices. Probability Impact Probability Impact Probability Impact Probability Impact
  • 30.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Additional Considerations Government ownership interest Limited power capacity for a growing population New technologies disrupting the market Which new energy sources are important to the government that we invest in? How can we convince people to use less energy during peak times? Which technologies will affect the market and which will fade?
  • 31.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Index Introduction • Cover • Agenda Situation • Current Situation • Core Competencies • Reality Check Strategy • Executive Summary • Our Role in a Liberalized Market • Project: SPARC Implementation • Engaging Customers • Digital Application Improvements: 1 • Digital Application Improvements: 2 • Digital Application Improvements: 3 • Digital Application Improvements: 4 • Digital Application Improvements: 5 • Engaging Retailers • Application Serving Retailers • Acquire an Energy AuditCompany • Staying Secure • SPARCOperations • WhoWe Are • Brand Implementation • Marketing to Customers • Marketing to Retailers • Marketing Sustainability • SPARCTimeline Bottom Line • SPARC Budget • KPIs and Metrics • Financial Outcomes • Risks and Mitigation • Additional Considerations Backup • Alternatives • SWOTAnalysis • Detailed Budget • Cost Structure of Retail Licensing • Data Analytics • Operating Landscape Analysis • What Does Sustainability Mean for SP? • Acquire and Energy AuditCompany: Details • Energy Consulting Service Process • Market Share for Electricity Retail • Total Consumption of Energy in Households • Electricity Consumption by Sub-Sector • Annual ElectricityTariffs by Component • How Energy Moves:Generation to Customers • The Product Lifecycle • Technology Product Lifecycle • RGU PerformanceAnalysis • Sources
  • 32.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Recapture Retail Market Share - Minimize losses - Not feasible - Not in line with long-term sustainability - Cannot compete with low prices - No longer the “go-to” for consumers Launch In-house Consultation Service - Produce new revenue stream - Accomplish sustainability - Expensive -Take a long time to receive return on investment -Create more competitors Develop New Apps for Retailers -More customization for the retailer - Generate more revenue - Opportunities for add-on services -We already have the infrastructure in place, so we should use it Focus on Electric Cars - Sustainability buzzword - High cradle to cradle environmental destruction - Require new infrastructure - Low revenue generation Alternatives PRO CON
  • 33.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Detailed Budget
  • 34.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Cost Structure for Retail Licensing
  • 35.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE DataAnalytics App Ratings Strategic Investments App Approval Developmental Changes Meter Readings and Industrial Data Consumer Surveys Brand Perception Social Media Collection Decisions
  • 36.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Operating LandscapeAnalysis Customer Needs Our Changing Role in Liberalization • Market size in 2018: 1.3 million non-contestable • What do they care about? • Affordable prices • Options- specializing for their needs • Customer service help when needed • Sustainable solutions for improving society Increasing Energy Demand EvolvingTechnology • Sustainability initiatives • Improved digital services • Increasing use of electric cars • Transition to more energy efficient lighting and appliances • Potential of implementing blockchain networks • Growing popularity of natural gas and solar power 37% Total consumption in the last 10 years 31% Population in last 10 years 0 5 10 15 20 25 30 2013 2014 2015 2016 2017 2018 Number of Competitors Decrease in SP market share since 2011 6%
  • 37.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE What does Sustainable mean for SP? Enhance the quality of life Renewable energy sources Goal: Provide electricity to enhance life of Singaporeans long-term Health and activeness Invest in sustainability
  • 38.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Acquire an Energy Audit Company: Details SP Group Barghest Building Performance Market New Service Facilitate Retraining Rebrand BBP under SP • Earned demand and press releases • Market to high energy consumers • Retrain BBP employees to educate them on SP Group’s corporate profile, values, and procedures • We will call them SP Savers • Rebrand them under SP Group official logo savers
  • 39.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Energy Consulting Service Process savers Step 1 •Receives request for service •Can be in a household or in a business Step 2 •Visit house or business and conduct full consumption analysis using meter data and construction inspection •Make recommendation on energy saving measures Step 3 •Once agreed upon energy saving measures, customers have the ability to request financing •Financing is allocated Step 4 •Installation of energy saving systems
  • 40.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE SWOT SWOT WeaknessesStrengths Threats • Take advantage liberalization • Introduce new revenue streams • Acquire an energy consultancy • E-commerce and social media trends • Experienced business units • Strong existing partnerships • Own the infrastructure • Multiple subsidiaries throughout the energy industry • Good brand recognition • Inflexible infrastructure • Dependency on power generators • Must adhere to government regulations • Competition • Market liberalization • Rapidly changing technology • Environmental and cultural groups Opportunities
  • 41.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Market Share for Electricity Retail
  • 42.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Total Consumption of Energy in Households
  • 43.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Electricity Consumption by Sub-Sector
  • 44.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Annual ElectricityTariffs by Component
  • 45.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE How Energy Moves: Generation to Customer
  • 46.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE The Product Lifecycle
  • 47.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Technology Product Lifecycle
  • 48.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE RGU Performance Analysis
  • 49.
    SITUATION STRATEGY IMPLEMENTATIONBOTTOM LINE Sources http://www.tembusupartners.com/en/index.php/singapore-energy-services-startup-barghest-building-performance-secures-seven-figure-mezzanine-funding-from-pe-firm-tembusu-partners/ https://www.spgroup.com.sg/mobile-apps https://www.infosys.com/data-analytics/verticals/Pages/energy-utilities.aspx http://www.straitstimes.com/singapore/environment/how-will-singapore-power-the-future https://www.ema.gov.sg/cmsmedia/Publications_and_Statistics/Publications/SES%202015%20Chapters/Publication_Singapore_Energy_Statistics_2015.pdf https://www.spgroup.com.sg/what-we-do/electricity-and-gas https://www.ema.gov.sg/electricity_market_overview.aspx http://www.straitstimes.com/singapore/electricity-tariffs-to-increase-from-april-1 http://www.temasekreview.com.sg/downloads/ins-and-outs-of-temasek.pdf https://www.spgroup.com.sg/about-us/corporate-profile https://www.ema.gov.sg/cmsmedia/Licensees/Electricity_Licensing/Retailer/Guide_for_Prospective_Retailers.pdf https://www.spgroup.com.sg/wcm/connect/spgrp/ea560383-d6d8-4a92-9925- af27cce9462b/SP+Group+Annual+Report+FY1516.pdf?MOD=AJPERES&CONVERT_TO=url&CACHEID=ROOTWORKSPACE.Z18_M1IEHBK0MOUJ20ABQK7Q593U32-ea560383-d6d8-4a92-9925-af27cce9462b- lINZpPn https://www.mypower.com.sg/about https://www.spgroup.com.sg/what-we-do/billing https://www.ema.gov.sg/cmsmedia/Licensees/Electricity_Licensing/Transmission/SP_powerassets_licence.pdf http://www.businesstimes.com.sg/energy-commodities/potential-for-competition-electrifies-power-market http://www.sgc.org.sg/fileadmin/ahk_singapur/DEinternational/IR/diffIR/Electricity_market_in_Singapore_2014.pdf https://www.spgroup.com.sg/wcm/connect/spgrp/d6b37192-d4c0-4d06-a53d-7a8cb6b09630/%5B27062017%5D+SP+Group+poised+to+transform+into+power+sectors+Uber.pdf?MOD=AJPERES&CVID http://www.reddotpower.com.sg/customer-portal-payments-user-guide/ https://www.ema.gov.sg/cmsmedia/Handbook/NEMS_111010.pdf https://play.google.com/store/apps/details?id=sg.com.singaporepower.spservices&hl=en https://bbp.sg/what-we-do/ https://www.glassdoor.co.in/Salaries/singapore-software-developer-salary-SRCH_IL.0,9_IM1123_KO10,28.html http://www.itworldcanada.com/article/israels-guide-to-securing-the-national-grid/390343

Editor's Notes

  • #2 Cody
  • #3 Emily
  • #4 Emily
  • #5 Kathryn
  • #6 Kathryn Cant ignore that a large number of our customers have the option to leave – customers are no longer beholden to us Key way to differentiate is service Consumers want choices Limited by evolving technology Find a way to make ourselves still necessary in the market and not pushed out by retailers
  • #7 Emily We need to make ourselves vital in the eyes of the consumer and the eyes of the retailer
  • #8 Kat Our new role: a bridge between retailers and suppliers Touching every aspect of the power expereince
  • #9 Kat
  • #10 Kat Talk about how it is beneficial for everyone Cheaper for retailers to use SP services versus developing their own All of this pushes sustainability and making money If we make our app really good in the next year, retailers will want to work with us
  • #11 Cody
  • #12 Cody
  • #13 Cody
  • #14 Cody
  • #15 Cody
  • #16 Ryan Talk about how it is beneficial for everyone Cheaper for retailers to use SP services versus developing their own All of this pushes sustainability and making money If we make our app really good in the next year, retailers will want to work with us
  • #17 Ryan 875,000 upfront development cost 1.375 mil annually – engineers, maintenance We charge licensing fee $1
  • #18 Ryan options: build internally, partner with someone, buy our own Talk about our ability to scale up BBP Rename BBP to…. SP Savers
  • #19 Cody
  • #20 Kat
  • #21 Emily A partner Viewed as trusted, reliable, acting in the best interest of Singaporeans One stop shop provider Reliable, committed, service, transparency Passionate about sustainability Ideas: Link (with electricity bolt) connecting customers and retailers
  • #22 Emily
  • #23 Emily
  • #24 Emily
  • #25 Emily
  • #26 Kat Value add services: customer service, technology team, relationship mgnt & parnetships Quick to adopt and quick to abandon technology
  • #27 Ryan Sources and uses
  • #28 Ryan
  • #29 Ryan Licensing App Fee from Retailers Installation of Sustainable technology
  • #30 Kat Cyber security threat
  • #31 Kat Closing is Cody
  • #37 Graph of energy consumption outpacing population growth Electric cars Energy consumption has increased by 37% in the last ten years
  • #38 Technology Monetization Forward looking/sustainable