The Department for Business, Energy and Industrial Strategy believes digital services will allow the UK to cut its energy costs by as much as £10 billion annually by 2050. Their report also forecasts as many as 24,000 new jobs being created.
Technology promises more flexible operations for organisations by providing an alternative to physical assets and paper-based processes. Processes with the highest potential for innovation provide an ideal foundation before setting loftier, long-term goals. From here, businesses can begin significantly improving customer service with better products and services. Analysis by A.T. Kearney shows a 4% increase in earnings for utilities organisations who undergo digital transformation.
Digital technologies are also a crucial component in the industry’s commitment to reducing carbon emissions. Businesses are making concerted efforts to use less energy and generate any energy that is being used from renewable sources. In addition, renewable energy helps assure a reliable power supply and diversify fuel supplies.
The UK government’s Net Zero Strategy plans to decarbonize all sectors of the economy in order to achieve net zero emissions by 2050. Three key technologies that will help companies achieve this target are Advanced Data Analytics, Machine Learning and AI.
What these solutions share is a penchant for handling large, complex datasets. That they are valued so highly only highlights the industries’ existing challenges in data management. Organisations need to leverage tools that will enable them to make more informed business decisions and drive useful new services. This goal is, particularly, relevant as access to internal and customer data grows.
However, these are just a few examples of transformative tech. Energy and utility companies across the world are utilising a variety of solutions during their transformation efforts. Below are two case studies which attest to the positive impact of digital transformation in the energy & utilities industry.
The third largest energy provider in the world Engie embraced digital transformation through various projects. Through these efforts, the company has been able to reduce its own carbon footprint whilst also providing value to its customers.
Engie has taken a holistic approach to digital transformation, with innovations across its services, distribution, and retail processes. For example, Engie has developed a range of e-services for customers such as digital platforms and web applications.
The company’s contract management application, WattsOn, computes all the data regarding a client’s energy supply agreements. The application then feeds this data into an accessible and informative platform. The application also promotes sustainable practices to its client base through bilateral agreements related to energy use milestones. Real-time notifications also alert clients when they are close to their energy use threshold.
These tools have brought benefits to the business and its customer base. Engie is now better able to interact with its customers and leverage data analysis to provide personal recommendations. It has increased visibility over clients across all 8 continents and improved reporting over business data.
The company has also reported a 26% decrease in total Greenhouse Gases Emissions since 2017. These findings put Engie in a good position for achieving their goal of being Net Zero carbon by 2045.
Leading utility providers, Aptus Utilities transitioned from paper-based business processes and excel spreadsheets to a digital management portal. This centralised platform covers all key aspects of project delivery. By managing all aspects of the tendering process, installation and maintenance, the platform improves business planning and financial reporting.
The robust platform centralises data for 7 business departments and over 400 employees. Using this centralised platform, Aptus has improved efficiency and productivity across their departments with great improvements in internal processes.
Additionally, Aptus has gained visibility into key business data, which is important to achieving their growth plans. The business can now track factors like payments and outstanding invoices, stock values, investments, and financial distribution among cost centres. This increased level of financial reporting has provided real-time visibility, enabling more effective and efficient decisions to be made.
Ultimately, these tailored solutions have enabled the company to focus on delivering an excellent service and growing their business even further.
Powering Digital Transformation
We have presented two case studies that demonstrate the real value that digital transformation can bring to the energy sector.
These examples don’t make the case for one ‘perfect’ digital transformation solution. What they do show is some of the overarching benefits that digital solutions can bring. These digital transformation case studies show how technology can improve efficiency, team productivity and performance.
These businesses often share similar goals — from finding sustainable solutions, to reducing costs and providing an excellent customer experience.
Audacia is a leading software development company in the UK and has delivered many successful digital transformation projects for leading organisations in the energy & utilities industry. Some previous clients include one of the UK's leading utilities providers and a global leader in low-emission automobiles.
Interested in finding out more about how your business can benefit from digital transformation? Get in touch with us today on 0113 543 1300, or email firstname.lastname@example.org