Recently, Frost & Sullivan researched the energy and utilities customer care and engagement industry and, based on its analysis, recognizes Hansen with the 2022 Global Product Leadership Award for its best-in-class products that empower energy utilities and power retailers. The company is one of the industry leaders in the energy and utilities sector with over 50 years of operations and a comprehensive portfolio of practical solutions for customers in over 80 countries.
Hansen has demonstrated strong industry leadership by helping energy utilities and power retailers adapt to the new changes in this dynamic sector. It has also played a significant role in supporting and enabling the increased use of renewable energy and electric power in a fast-growing sector with a compound annual growth rate (CAGR) of 8.2% and is expected to grow from $5.43 billion in 2020 to $11.94 billion in 2030.
The company is well-positioned in the market and has the potential to outperform its closest competitors due to its innovative capacity and expertise in the sector. In addition, Hansen continues to grow as it maintains an active acquisition strategy. Over the last decade, it has executed 8 successful acquisitions to boost its capabilities, increase its portfolio size, and serve a wider audience.
Hansen’s product portfolio continues to see significant uptake by new and existing customers, with the company witnessing strong momentum among European energy companies and energy providers, as well as energy providers and municipal entities in North America. A recurring theme for a few years now has been the high demand for Hansen’s trading solution – Hansen Trade – and its enhanced capabilities for the evolving Nordic market.
“A notable success in 2022 was a new agreement with Fortune-100 Exelon Corporation, as well as agreements with Community Solar companies such as Nautilus Solar, Hampshire Power and Novel Energy Solutions, as appetite for renewable sources of energy continues to grow. At the same time, Hansen continues to innovate and strengthen its best-in-class product portfolio, providing the mission-critical software that several energy and utilities providers require across the globe,” said Maria Benintende, Frost & Sullivan Principal for the Energy & Environment Practice.
With its extensive market experience, Hansen stands out for its high attention to customer service that retains a loyal clientele. Hansen leverages its customers’ input to stay ahead of the curve and quickly adapt to the ever-changing energy market needs and add new product capabilities that respond to the requirements of its customers.
Additionally, Hansen’s products have evolved from data management solutions to state-of-the-art cloud services that enable businesses to adopt new digital trends and next-generation services. This strategy helps its customers expand beyond core energy services and evolve into leading-edge digital businesses that solve the most pressing problems of today’s energy companies.
“As a result of its exceptional technological capability, customer-focused product development strategy, and continual innovation focus, Hansen consistently delivers outstanding customer experiences leading to optimal customer satisfaction. This success is evidenced in its minimal customer churn rate and long-lasting customer relationships (with an average customer lifetime of over 10 years),” noted Sama Suwal, Best Practices Research analyst for Frost & Sullivan.
Each year, Frost & Sullivan presents this award to the company that develops a product with innovative features and functionality that achieves rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
Hansen Technologies (hansencx.com) is a leading global provider of software and services to the energy, water and communications industries. With its award-winning software portfolio, Hansen serves 600+ customers in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyse customer data, and control critical revenue management and customer support processes.