The future of the energy and utilities industry is one in which energy demands are rising, sustainability efforts remain a high priority, and cloud technologies play a vital role in modernizing operations.
On average, energy and utilities providers have an annualized return on investment (ROI) of 43% from their cloud initiatives, compared to the cross-industry average of 34%, according to our calculations. Yet Wipro research reveals that the industry has fewer enterprises with a high degree of cloud maturity in comparison to other industries.
Organizations that are just beginning to see cloud-driven benefits from their investments can learn how to accelerate their cloud transformations with the Wipro FullStride Cloud Services report, Powering Cloud Innovation in the Energy and Utilities Industry. The report outlines how enterprises can further the progress they’ve made with the following tactics:
- Adopt advanced technologies, such as AI
- Improve cybersecurity strategies
- Decentralize cloud management
- Set clearly defined cloud responsibilities
- Take a new approach to calculating ROI
By developing a strategy built around these tactics, energy and utilities companies can reach new levels of business value from cloud modernizations and create a foundation for continuous innovation. As covered in the report, a U.K.-based chief product officer says his company is “moving our on-premises IT infrastructure to the cloud, which reduces our operational cost and helps in delivering business value.”