Long-term success comes from a more focused approach, harnessing digital capabilities to meet the challenges that utilities … The changes ahead bring new complexities and new potential value—and force utilities to up their digital capabilities. Over the last decade, digital transformation has accelerated. Reid is the leader of Deloitte's US Consulting Energy, Resources & Industrials Industry practice. Increasingly, digital is becoming the foundation for most business applications. As in all industries, end-to-end process automation is a core catalyst for digital transformation with connected devices, consumers, operations, and utility … Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. The presentation focuses a lot on the customer experience, as often mentioned today de facto a key driver in the bigger digital transformation picture. By 2022, 20% of digitally determined utilities’ revenues will come from new products and services, Digital transformation: focus on the utilities industry, utility industrial control systems security report, IDC’s top 10 worldwide utilities predictions 2019, IDC’s Top 10 Worldwide Utilities 2019 Predictions, Utilities – digital transformation and opportunities across the value chain – via Accenture – click for full image, Emergence and transformation of digital utilities in the “smart” era. There are many players in the utility chain so the challenges, evolutions, technologies and transformations are not the same for all components of that chain. April 10, 2018. Certain services may not be available to attest clients under the rules and regulations of public accounting. As consumers evolve and have an ever growing need for connectivity, the electric utilities … Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. Smart power generation with advanced monitoring and controls, as well as smart transmission and distribution, likely will be widespread in tomorrow’s environment. Tomorrow’s digital utilities will foster innovation by engaging in constant exploration and discovery—with the understanding that innovation often occurs in unproven or unknown domains. Digital has helped many organizations generate greater efficiencies across their operational business units, significantly improve customer experience, and accelerate innovation to allow them to stay ahead of the competition in rapidly changing markets. As part of its digital transformation, a leading competitive energy retailer is re-organizing around customer journeys in order to break down channel-based siloes and to foster collaboration. The utility industry traditionally was a rather slow mover in technology adoption but is challenged to be a fast mover when it boils down to digital transformation and the adoption of specific technologies to enable the smart infrastructure, processes and data it needs to be future-proof as competition increases, customer demands change and the industry is in full flux. The industry is built upon billion-dollar infrastructure projects, from power plants to natural gas pipelines, that are designed to last for decades or longer. The 2020 Human Capital Trends focus on answering a paradoxical question: Can organizations remain distinctly human in a technology-driven world? Energy 4.0: Digital Transformation In Energy & Utilities Industry Technology has been increasingly adopted by all major industry sectors over the last several years—and the energy industry is no … When looking at the broader utility industry ecosystem, it’s important to break up the “chain” and see the various challenges and opportunities per element of the value chain as energy, water etc. The pandemic forced utilities to veer away from traditional ways of conducting The pandemic forced utilities … In this Energy, Resources & Industrials (ER&I)–specific report, we’ll explore these trends from the lens of each of the industry’s sectors. Becoming a digital utilities organization demands more than adopting or exploring the latest technologies. Learn more. Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility and construction sectors and accelerate adjustment to the ‘new normal’. Digital transformation efforts often founder on the sheer complexity of using technology to increase a company’s speed and learning at scale. Data collection is just the first step. Digital Transformation of Current Back-End Processes The power and utilities industry can only successfully become more customer-centric once they have optimized back-end processes. It caused a systemic shift in technology adoption, from the very beginning of the pandemic. What are you doing to take advantage of these new technologies and stay ahead of the pack? For more than 20 years, Ben has demonstrated success delivering large, complex business t... More, Powering change in the utilities industry. A podcast by our professionals who share a sneak peek at life inside Deloitte. A digital transformation can help water utilities to become more energy-efficient, less labor-intensive, more compliant with regulatory directives, and allows for streamlined communications among departments. Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. The commercial model is also one example of how utility companies need to and can go beyond optimizing “what is” but truly review business models, for instance with alternative pricing models. We found plenty of uncertainties, but four scenarios clearly emerged based on our research. Forces such as rising customer expectations, evolving technologies, growing competition, increasing regulatory pressures, and aging infrastructure are driving gas, water, and electricity providers to become digital organizations. Today, digital is transforming the way power and utilities companies … Digital Disruption – Water Utilities 2019. The Blueprint is a design for a secure modern desktop for government agencies based on Microsoft 365. Digital Transformation in utilities and construction is no longer a luxury or an afterthought. Amidst the rapid digital transformation sweeping across utility companies, CIOs are often caught between reconciling legacy and new systems, faced with … Successful digital transformation for utilities providers Successful digital transformation for utility providers As customers demand digital, responsive and trustworthy service from their utilities providers, companies must reorient every move to put the customer at the core. One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. Click to see an integrated approach for: Fullwidth SCC. Intrigued? Digital transformations are difficult: Bain’s data shows they are significantly harder than conventional change management programs, with only 5% of companies reporting they had achieved or exceeded … How can utilities address carrying cost and regulatory lag? Digital utilities stand to reap big rewards by improving processes, increasing understanding of the customer, empowering employees, boosting security, and mitigating risks. For more than 25 years, Reid has specialized in the delivery of business and technology enterprise tra... More, Ben is the leader of Deloitte’s US Consulting Power, Utilities & Renewables practice, Deloitte Consulting LLP. All of this accelerates decarbonization because less fuel is needed to produce the same amount of power. Please see www.deloitte.com/about to learn more about our global network of member firms. Reduced waste See Terms of Use for more information. For utility firms the challenge is not just to review, optimize and transform existing processes and business models. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Any water utility, regardless of its phase in their digital transformation journey, can see increases in ROI from past investments and make the most of existing technology structures by … We embed benchmarking on several essential business processes in the assessment to quantify tangible performance results. How the Program supports agencies “‘Digital Water: Industry Leaders Chart the Transformation Journey’ leverages the insights of IWA members to help utilities learn from their peers, harness the power of digital technologies and enable communities around the world to become more water-secure,” states Kala Vairavamoorthy. Jian Wei is a principal leading digital transformation in Deloitte’s Power and Utilities practice. Its main goal was to keep the lights on without breaking the bank. Changing customer demands rule all. Start your utilities digital transformation journey to help improve efficiency and lower costs across your entire enterprise. How will you embed a truly digital mindset and digital work into all your activities and operations—strategic planning, budgeting, process improvement, employee development, mergers and acquisitions, third-party relationships, customer engagement, and beyond? End-End integration of sensors/assets, enterprise systems to help transform from a traditional utility provider to a digital player Together, big data, Internet of things (IoT), artificial intelligence (AI), machine learning (ML), augmented reality (AR), virtual reality (VR), and other revolutionary technologies offer the promise of a brighter future for energy and utilities companies. are such complex ecosystems. It is to find completely new ways to conduct their business. The challenges utility firms face are diverse. Most leadership teams understand the … For more than 20 years, Wei has directed high-impact engagements from strategy through execution, working at the intersection of innovation, digital technologies, operations, and organizational maturity. augmented/virtual-reality capabilities, and wearables, Digital transformation in the energy & utilities sector, A power and utilities perspective: Tech Trends 2019, A power and utilities perspective: Human capital trends. Emerson’s Juan Panama and Mark Jordan presented on building the utility of tomorrow, today at the 2019 Ovation Users’ Group conference. Share. When conveniently used, AMI can help utilities take their digital transformation to the next level. Cloud computing is changing the way organizations are doing business. Ongoing business disruption, data growth, and the decarbonization trend are putting businesses to the test, but utilities today stand on the edge of something big: a new era of opportunities and previously unimagined outcomes. How will you incorporate design thinking into your processes? Why Utilities Need Digital Transformation. The energy and utilities industries are undergoing a dramatic shift driven by rising stakeholder and customer expectations, increasing economic, and political uncertainty, and emerging new technologies. The digital transformation journey. Projects that were languishing were suddenly boosted to the top of the management priority list. COVID-19 has presented the power and utilities industry with a unique opportunity to shift from an “old school” mindset to one of innovation and customer centricity. Our “see, think, do” approach to transformation means we can help you identify needs and opportunities, visualize your future state, thoughtfully design processes and strategies to support your “to be” vision, and perform the hands-on work for turning that vision into a reality. Read more about the digital transformation This disruption is already visible in markets worldwide: Various utility startups have transformed the industry’s landscape by introducing unique, … One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. Microgeneration and microgrids could change the game for corporate and college campuses, and their power and utility providers. System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. Today, digital is transforming the way power and utilities companies operate—how they create value, serve customers, manage costs, optimize processes, and capture new market opportunities. With the added strain of the COVID-19 crisis further stretching municipal budgets, creating remote workforces overnight, and introducing a new level of uncertainty, it’s imperative that IT leaders of public utilities take a hard look at systems and processes to begin the process of digital transformation now. Along with the complexity of the utility value chain and fast-evolving evolutions thinking ahead and grasping the benefits of “new technologies” is key in this extremely competitive and sensitive market with many fluctuations in the broader ecosystems. Smart is indeed the word we stumble upon in all aspects of digital within a utility industry context and overall service economy context: from smart meters to smart cities (where utilities come into play as well, smart grids) and smart parkings. Driven by sustainable environmental needs, the emergence of prosumers and the evolution of technology, the water utility industry is on the verge of one of the largest digital transformations in its 100+ years of existence. Increasingly, digital is becoming the foundation for most business applications. Discover Deloitte and learn more about our people and culture. To begin, they must develop a digital transformation strategy that can be successfully embedded and … Digital transformation in the utilities industry has lagged in no small part because of a generational technology clash. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities … A universe of possibilities lies ahead. Electric, gas, and water utilities are investing in digital technologies to improve in areas such as operations, regulatory compliance, reliability, safety, and customer satisfaction throughout their organizations. Virtual-reality-based training, digital twin assets, mobile work tools, preventive asset maintenance capabilities, and machine intelligence for supporting utility network management. Although digitalization of energy sector is progressing at a fast pace, energy and utilities companies are only approaching the Energy 4.0 and smart energy concepts, nevertheless paving the way to digital transformation of the entire industry. A few of the drivers of digital transformation within the utilities industry include: Leveling out power demands, thus reducing peaks and valleys, which requires smart meters, combined with the Internet of Things (IoT), to gather near-real-time consumption data. Stakeholders demand greater transparency into the supply chain to optimize operations and cut costs. Digital transformation isn’t a once-and-done operation and, as 2020 has demonstrated so well, priorities can change in an instant. It's easy to assume - looking at industries like media, retail, and tech - that all industries have made the switch to digital technology. On the customer front, the future likely will bring advanced interconnected solutions and self-service. Digital transformation in the utilities industry is going to the next level. Digital enterprise solutions. Namely … However, new revenue models and sources, as well as opportunities of process improvement from various possible angles are universal across the utility chain. So, let’s look at some of the technological evolutions playing a crucial part in the utilities industry. In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility’s assets are serviced, maintained, replaced and restored to ensure reliability. Becoming a digital utility requires your entire organization to undertake a transformational journey in which your organization becomes a digital enterprise—a journey to be digital, not simply do digital things. One of the greatest risks utility grids face are cyber-attacks. How are utility companies planning their journey to become a truly “Digital Utility”? Utilities need not necessarily have contingency plans in place for every possible digital scenario. Digital Transformation in utilities and construction is no longer a luxury or an afterthought. This message will not be visible when page is activated. US Energy, Resources & Industrials Industry Leader, Telecommunications, Media & Entertainment, Activate the digital utility with Deloitte, Organizations that are ‘walking the talk’. Why Utilities Need Digital Transformation Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams It's easy to assume - looking at industries like media, retail, … Do not delete! change your targeting/advertising cookie settings. The Future of Utilities: Powered by Connectivity. Field workers are facing operational, organizational and digital disconnections due to an aging workforce and changing job expectations, spurring the need for a digital transformation in utilities… Digital Transformation for Power Utilities Projects. All images belong to their respective mentioned owners. As consumers evolve and have an ever growing need for connectivity, the electric utilities industry is in a unique position to harness the power of connectivity. And clearly, older systems are out of step with the priorities (and … This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. Essential ingredients for transformation include: How will you deploy technologies such as blockchain or robotic process automation (RPA)? Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. Combining device level data with the ability to orchestrate work in an end-to-end fashion will connect the silos between data and action in the utilities industry. DTTL and each of its member firms are legally separate and independent entities. The Consumer Council for Water (CCWater) allows retailers to submit complaints on a monthly basis, which helps the council to identify and solve problems with non-domestic water supply. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. Enabling Digital Transformation in the Utilities Industry Delivering Visibility Without Borders for security, network, and application assurance across traditional data centers and multi-cloud environments. Fast forward to today and, while still laser-focused on reliability and affordability, the power and utilities sector appears to be morphing into an increasingl… Digital transformation is happening not only in the tech industry, but also in unlikely industries like the utility business. What’s your plan for moving forward? DTTL (also referred to as "Deloitte Global") does not provide services to clients. To view this video, change your targeting/advertising cookie settings. However, today utilities only thoroughly analyze, on average, about 10 percent of the data they collect (2015 CIO Forum). Amihan provides digital strategy & consultation and technology solutions to help utility companies drive their digital transformation journey forward.. From data analytics to process automation to cloud services — we’ve got you covered. Utility companies stand to generate performance gains of 20 to 40 percent by implementing new technologies. Transform your power and utilities organization into a digital utility, and you can begin to get ahead of tomorrow’s challenges—to become a customer-driven organization that can deliver new efficiencies, uncover new insights, explore new business models, address challenges more proactively, and provide new dimensions of customer service. How will you survive—and thrive—in a dynamic digital future? Data science coupled with technologies such as smart meters, for example, can offer new data-driven insights into your customers, their consumption, energy efficiency, and behaviors. How will you respond? Transforming Power, Utilities and Renewables has been saved, Transforming Power, Utilities and Renewables has been removed, An Article Titled Transforming Power, Utilities and Renewables already exists in Saved items. By 2035, organizations in every industry will be dealing with a vastly different energy landscape. While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. Digital transformation ahead To realize these digital opportunities, utilities need to transform operations. Explore how digital transformation within the financial close process helps these organizations take advantage of these opportunities. April 10, 2018. Utilities executives are accustomed to thinking large and long-term. The Consumer Council for Water (CCWater) … Transform your power and utilities organization into a digital utility, and you can begin to get ahead of tomorrow’s challenges—to become a customer-driven organization that can deliver new … Digital Utilities Maturity Assessment: The starting point of the digital transformation journey is an assessment of the Utilities current maturity on the digital agenda. Read on for the top benefits to digital transformation in the utilities industry. They all will be integral pieces of the digital utility future. Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. To expand the capabilities of their current assets while preparing for the infrastructure of tomorrow, utilities are beginning to undergo a full digital transformation that includes changes to … Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. Accenture did a tremendous effort in this regard and summarized it all in a great infographic on the “digital utility”. Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. Read more about the digital transformation This disruption is already visible in markets worldwide: Various utility startups have transformed the industry’s landscape by introducing unique, cutting-edge solutions to markets that are longing for change. In the face of rapid evolution of technology, the utilities industry is under special pressure to adopt innovations. The focus was on how to start down the path to digital transformation… And how will your digital utility incorporate the Internet of Things (IoT), in-memory computing, analytics and cognitive tools, augmented/virtual-reality capabilities, and wearables to revolutionize business processes? Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. Peter Peters, Partner addresses how power and utility clients can bring digital transformation … Among the (really many) challenges facing the utilities industry overall (and making abstraction of regional differences): The graphic below summarizes just a few of the mentioned challenges. There are of course more technologies and digital evolutions in the utility industry whereby we find more ‘traditional’ technologies (cloud, for example) and more advanced ones (e.g. At the occasion of Oracle Open World 2013, Jonathan D. Loretto and Michel van Zupthen, both from Capgemini, made a presentation of the emergence and transformation of digital utilities in the “smart” era. Given the importance of the utility industry (critical), cybersecurity is at least as essential. This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. According to an article in one of the premium publications, only one in ten pursue digital transformation outside of pressure from regulators, customers, or competition. In the last 10 years across the utility industry, no one in the C-suite has been under more scrutiny than the CIO. In this overall technology picture IoT (the Internet of Things, more specifically Industrial IoT), artificial intelligence and edge analytics play an important role as do other technologies typically encountered in the scope of Industry 4.0. By adopting a holistic view of inventory management. "Digital transformation efforts have become a high priority for many utilities. Read these about these 3 key areas. Digital Transformation for the Utilities - An Overview Get Published - Build a Following The Energy Central Power Industry Network is based on one core idea - power industry professionals … This box/component contains JavaScript that is needed on this page. More about security in the utility industry in the article on the utility industrial control systems security report. Are you looking at talent needs and the future of work through a digital lens—or the same old lens? Amihan provides digital strategy & consultation and technology solutions to help utility companies drive their digital transformation journey forward.. From data analytics to process automation to cloud … The Protected Utility Blueprint. Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility … And remember, once your digital programs have started, these benefits become ongoing characteristics that you can improve and grow. It requires shifting the way your business operates—to activate a truly digital enterprise that can continuously redefine what it offers and how it delivers. The disruption of COVID-19 has accelerated digital transformation in almost every industry. Communications providers are investing an estimated $2 trillion in 5G and other connectivity technologies over the next five years. For the Power Utilities industry, there are two key factors driving the move toward digital technologies. Thepower and utilities sector was traditionally where many parents or grandparents parked their savings as they got older, attracted by low volatility and stable returns. digital twins enabling to build replica of assets in the cloud for optimization of design, engineering planning, maintenance and so forth, de facto needing a range of other technologies, including mentioned ones such as IoT and artificial intelligence) – the graphic below shows some forecasts in that regard (and on how these technologies will be used from the mentioned IDC top 10 worldwide utilities predictions 2019. We added an graphic below with an overview of the six major and most pressing industrial control systems risks for the utility industry as ABI Research identified them. Today, digital is transforming the way power and utilities companies operate—how they create value, serve customers, manage costs, optimize processes, and capture new market opportunities. What will that future of energy look like? Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. The company sums up the business imperatives, challenges and solutions in three segments: The infographic and where digital technologies, the digital landscape and transformational initiatives fit in, speaks for itself so check it out. Customer experience transformation requires organizations to make decisions based not only on business and shareholder value, but also on value created for customers and communities. By 2022, 20% of digitally determined utilities… The digital transformation will have a great impact on consumers and I think it is very important to ensure that any change comes with a communication strategy to convey the effects of the digital transformation to all 'digital' stakeholders, including consumers, workers, regulators, ecosystem actors, etc. System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility… Do you know and understand your organization’s digital DNA—the core traits that can help you operate and innovate in the future, such as your ability to collaborate intentionally, “democratize” information, and operate with morphing team structures? 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