An Australian company is revolutionising the way Australians buy power, through nothing more than a simple app. Having seen the human toll power companies’ predatory pricing strategies can have on vulnerable consumers, the team at Ineda decided to do something to make a difference.
That small thought resulted in the development of a revolutionary online platform, which sees energy suppliers compete to win the business of customers, through a reverse auction.
The Ineda app enables you to post your need for a product or service. Then extensive list of providers have the chance to bid for your posted need. The app supports a simple and easy-to-use interface that promotes price transparency and consumer empowerment. You are in control of the process, while suppliers do the bidding.
Ineda has been working extensively with leading goods and service providers, and app downloads are growing every day. Currently the Ineda app supports the following goods and services categories:
- Electronics (entertainment, white goods, office)
- utilities (electricity, gas)
- insurance (home, vehicle, pet, health), and
- recreation (flights, car hire).
The Ineda app has become the standard way goods and services are purchased, and enable all consumers to have the best technology at their fingertips, for free.
Ineda’s CEO Nick Neda says a solution like this is well overdue. “Ineda is the change many have been looking for,” he says. “Our platform empowers consumers to make informed decisions about their energy supplier, while also creating an even more competitive market.
“When companies place bids on Ineda, they do so in terms customers can understand.”
In recent years, there seems to have been an unending stream of stories of people, young and old, unable to pay their power bills, or keep heating on in the winter, because of skyrocketing prices.
Neda says that something needs to change, and sooner rather than later. “If Australia really is ‘the lucky country’, then our power prices need to reflect it,” he says.
“It’s painful to hear the celebrations each time an excessively large profit is announced by power companies, in light of the struggles of so many people. We’ve been motivated by these experiences to develop and grow our platform to make a difference to the lives of our consumers, hopefully in a big way.”
It’s clear to see there has been no shortage of technology influencing our everyday lives in recent years, from the rise of ride-sharing services like Uber and Lyft, to tap-and-go payments from our smartphones.
Neda says that Ineda saw a gap in the app market when it came to utilities. “Over the years, technology seems to have made our relationships with power companies more difficult, rather than easier.
“Our service brings customers and suppliers together in one place, to make the best deal for each specific situation.
“More than that though, we’re not just here to facilitate the bidding process, but also to support customers in finding the offer that works best for them.”
Only earlier this year, the ACCC commented on the state of Australia’s power industry, saying: “Many of these issues [around accountability] arise from unnecessarily complex and confusing behaviour by electricity retailers, and in some cases, this appears to be designed to circumvent existing regulation.”
Neda says that an outsider applying pressure to the industry is the only way forward. “We are looking to disrupt the power industry in a big way, to empower consumers again, and bring back a more competitive market.
“By disrupting the market and encouraging energy suppliers to think more about their customers, the end result is a better deal for everyone.”
Ineda’s ‘reverse auction’ platform isn’t limited to power, it also extends to everything from insurance and electronics, to flights and taxis.
For more information visit ineda.com.au.
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