How can energy companies leverage their digital transformation capabilities? The technology uses mobile, cloud, and artificial intelligence and machine learning technologies to improve legacy business processes. With the right framework, utilities can generate new revenue streams, improve customer experiences, and streamline internal processes, according to International Data Corp. (IDC).
Digital technology is sweeping through energy companies. By 2025, more that 750 million cloud-native applications will be created globally, according to IDC.
As utilities embrace the new technology, they need to retool their internal operations. Many utilities are undertaking cloud software development at scale for the first time. They must understand how the technology operates, work through new concepts, and incorporate the new features neatly into their organization.
A Digital Transformation Blueprint for Success Â
IDC offers a three-step process to make the change:
Energy companies need to build a strong foundation. Innovation requires three elements: the right vision, strategy, and culture
Follow a set process. Succssful development and deployment follow five activities: brainstorm, design, build, distribute, and measure.
Finally, determine the new technology’s value. Corporations can reap numerous benefits: greater brand value, new levels of invention, additional differentiation, or market disruption.
Energy companies harvested the low digital technology’s low hanging fruit. Now, they want to formalize their business processes and populate them throughout the organization. To reach that goal requires creating a robust cornerstone, deploying a logical process flow, and determining how the changes positively impact the utility.
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