Dec 12th, 2019. 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. Utilities companies are undergoing dramatic digital transformations to keep up with customer demands and growth in consumption, as well as to enable competitive differentiation. Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. There are also a number of pitfalls to avoid. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. Digital transformation has hit the utility sector and it is changing everything. Essentials for digital transformation in utilities a sequence of steps – strategic vision creation, business maturity evaluation, target operating model definition, charter creation, value realization. Utility companies are pressured to use hardware, software and business approaches that enable a smart, connected infrastructure to be an essential part of the customer service proposition. Common business goals include improved interactions with customers, more streamlined operations, greater efficiencies, and hopes of triggering new business models. These are the benefits of digital transformation. The industry migration to distributed power generation, combined with compliance, safety, and green energy requirements, is evolving the way utilities conduct business and service their customers. Utilities executives are accustomed to thinking large and long-term. As NACWA’s ‘Smart Utility Task Force’ analyzed, there is no doubt about how the digital utility of the future will look. Man, machine and intelligence come together to transform core operations and unlock trapped value, for instance, through the use of digital twins of assets and the use of drones for inspections. As a result, finding an approach that fits your business is critical. of digital transformation is just that – transformational. Technology has been increasingly adopted by all major industry sectors over the last several years—and the energy industry is no exception. Digital is transforming the way power & utilities companies operate. Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. 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. But driving digital change is easier said than done. Utilities are behind in their digital transformation. 1. Most leadership teams understand the opportunity, but underinvest in the changes to the culture that enable speed, learning and agility. However, the sector is reaching a tipping point. Not even close. Tech innovation is no longer associated only with replacement of paperwork with automated electronic systems. Each firm’s journey is unique. Energy 4.0: Digital Transformation In Energy & Utilities Industry. Digital transformation efforts often founder on the sheer complexity of using technology to increase a company’s speed and learning at scale. utilities organisations, the challenges of transformations, and how companies can defy the odds to become truly customer centric, digital and agile ahead of their competitors. 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. Learn more and contact a senior consultant. However, digital can improve processes and provide a better experience to customers. The pandemic forced utilities to veer away from traditional ways of conducting Accelerating trends in disruptive generation and battery storage technologies, new types of competitors and more demanding stakeholders are creating new operational and strategic challenges that must be understood and managed. When doing so, they should never forget a key dimension that will determine the success of the entire journey: their people. 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. 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. One of the key factors to success for distribution utilities is digital transformation-the reinvention of an organisation and all its processes through the use of digital technology to improve performance. And making sure any changes they make are in line with their business goals. BCG’s Center for Digital in Power & Utilities uses proven digital tools and methodologies—coupled with broad and deep industry experience—to help power and utilities companies thrive. 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. The question is how to get there. Digital transformation isn’t a once-and-done operation and, as 2020 has demonstrated so well, priorities can change in an instant. As all aspects of the global energy system become more digital, we are already seeing better outcomes for electricity producers, end consumers, the economy, and the environment. menial, repetitive tasks). 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. Explore how digital transformation within the financial close process helps these organizations take advantage of these opportunities. The evolution of water meters, in relation to their data collection capabilities and communication systems, has led to unprecedented streams of information, which utility managers can use to make critical decisions proactively. Are utility companies spending their IT budgets efficiently? Digital Transformation in utilities and construction is no longer a luxury or an afterthought. Price was the key differentiator for the utility industry. Share. One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. There's still time to close the digital gap, and the potential for both losses and gains is huge. We use Synerall, the most advanced CIS & Billing platform for customer benefit. Exploring the crucial link between it spending, innovation & employee morale . Pre-digital, customers simply wanted to flick a switch to illuminate their business and homes at a fair price. April 10, 2018. A Q&A with Bentley’s Bob Mankowski. Within distribution utilities this addresses two main objectives. Utilities need not necessarily have contingency plans in place for every possible digital scenario. • Innovation. Digital Transformation for Utilities WE ARE STRATEGIC CHANGE MANAGEMENT PARTNER OFFERING TURNKEY SOLUTIONS FOR DIGITAL TRANSFORMATION IN UTILITIES IN ENERGY, WATER AND ENVIRONMENTAL SERVICES AREA. Transforming the core involves leveraging digital technologies to maximise the efficiencies of traditional business by reinventing various processes. It is time companies in the utility sector fully embrace digital transformation or risk getting swept away by more innovative competitors. 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. Coronavirus, digital transformation and utilities Brought to you in association with. If you'd like to talk to ProArch about these changes to … Increasingly, digital is becoming the foundation for most business applications. Digital Disruption – Water Utilities 2019. to accelerate digital grid transformation Business Impact Challenges • Operating costs. We embed benchmarking on several essential business processes in the assessment to quantify tangible performance results. Let’s create a plan today. With the advent of the Internet of Things (IoT), smart cities infrastructure, and advanced modeling tools, a digital transformation is underway in the water industry. 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’. While the benefits that digital transformation offers are tremendous, there is no single, one-size-fits all approach. 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