ENERGY AND UTILITY
“Energy companies are expanding the scale and scope of digital innovations to drive efficiency, transform operations, and diversify revenue.” Gartner
Energy and Utility (EU) companies encounter trials in process efficiency due to the changing nature of the environment and customers. Companies focus on augmenting the business processes with productivity and eliminating the bottlenecks that stand as a barrier to efficiency. Achieving a cent percent ROI by developing the purchase, payment, and customer service becomes a major concern for enterprises. Automation and business process intelligence help organizations fix problems such as process inefficiencies, migration performance, plant maintenance, etc. Automation and process mining benefits the EU by identifying and eliminating process inefficiencies, improving process time, reducing costs, etc.
BUSINESS CHALLENGES
Climate Change
The energy and utility industry significantly impact the environment, and addressing the challenges posed by climate change will likely be a vital issue. This may involve transitioning to more renewable and low-carbon energy sources and adapting infrastructure and operations to be more resilient to the impacts of a changing climate. The rise in greenhouse gases results in severe weather conditions like droughts, flooding, etc., which affects the Energy and Utility companies. These challenges can be handled by EU companies with strong networks and operations and adopting new technologies that can endure severe climatic conditions.
Infrastructure Modernization
Many energy and utility systems and infrastructures, such as power plants and transmission lines, are aging and may require significant investment to maintain and upgrade. This can be a major challenge, particularly for utilities operating in regions with limited financial resources. The challenges increase in EU companies as the infrastructure starts getting old. As the renewables grow, energy is produced at a higher level. The requirement for energy has reduced gradually and the aging infrastructure affects the customer experience. When energy and utility companies concentrate on infrastructure maintenance, customer experience automatically increases.
Cybersecurity
As the energy and utility industry becomes increasingly digitized and reliant on technology, it will be essential to ensure the security of these systems against cyber threats. This will require investment in cybersecurity measures and robust incident response plans. Significant cyber-related improvements in the energy and utility industry are enhanced protection and a futuristic plan for the company’s security growth. Every organization should be well prepared to face cyber threats and be cautious. Content monitoring, identifying, and instant response planning from the information technology team should be integrated into EU companies for security.
Regulatory and Policy Changes
The energy and utility industry is heavily regulated, and changes in regulatory frameworks or procedures at the local, national, or international level can significantly impact the industry. Staying up to date with and adapting to these changes will be a crucial challenge. This constant shift in regulations and policy affects the financial growth and prospects of EU companies. A few changes in regulations that affect the EU industry are environmental regulations that limit the emissions of renewable energy, cost changes due to tax, security standards and consistency that positively affect the operational cost, the effect upon the technological viability, etc.
Public Trust and Engagement
The energy and utility industry plays a vital role in people's daily lives. Utilities need to engage with their customers and build trust in their operations. This may involve transparent communication, improving customer service, and focusing on sustainability and social responsibility. Also, anxieties about the environmental impact in the production and distribution of energy can affect the engagement with the public which automatically affects the customer experience. Energy and utility companies can concentrate on their operational transparency and decision-making processes. Sustainability and environment-friendly procedures enhance public trust.
OUR SOLUTION
Our customized solutions with Process Mining and Hyperautomation boost the operational excellence of the Energy and Utilities industry. Our solutions streamline processes and identify the process bottlenecks to increase business productivity, customer experience, and operational efficiency. This helps the Energy and Utility companies to reach operational excellence.
Business Process Intelligence
Process mining is a technique that uses data collected from IT systems to create visual representations of business processes, allowing organizations to analyze and optimize their operations. In the energy and utility industry, process mining solutions can potentially be used to improve efficiency, reduce costs, and enhance the reliability and safety of energy systems. It is important to note that while process mining can bring many benefits, it is not a panacea and should be implemented thoughtfully, considering factors such as data privacy and the need for robust cybersecurity measures.
Process Optimization
Process mining can identify bottlenecks, inefficiencies, and opportunities for improvement in business processes, allowing organizations to optimize their operations and reduce costs.
Compliance
Process mining can be used to ensure that an organization's operations comply with regulatory requirements, such as safety standards and environmental regulations.
Risk Management
Process mining can identify potential risks in business processes, allowing organizations to take proactive steps to mitigate those risks.
Supply Chain Management
Process mining can be used to analyze and optimize the flow of materials and information within a supply chain, improving efficiency and reducing costs.
Customer Service
Process mining can be used to identify opportunities to improve the customer experience, such as by streamlining processes or identifying areas where additional training may be needed.
Hyperautomation
Hyperautomation uses advanced technologies, such as artificial intelligence (AI), machine learning, and robotics, to automate business processes and workflows. In the energy and utility industry, hyperautomation solutions can potentially be used to improve operational efficiency, reduce costs, and enhance the reliability and safety of energy systems. It is important to note that while hyperautomation can bring many benefits, it is not a panacea and should be implemented thoughtfully, considering factors such as the potential impacts on employment and the need for robust cybersecurity measures.
Predictive Maintenance
Hyperautomation solutions can be used to analyze data from sensors and other sources to predict when equipment is likely to fail, allowing for proactive maintenance to prevent downtime.
Grid Management
Hyperautomation can be used to optimize the operation of the electric grid, including managing the balance between electricity supply and demand and improving the integration of renewable energy sources.
Customer Service
Hyperautomation solutions, such as chatbots and virtual assistants, can improve customer service by automating routine tasks and providing timely responses to customer inquiries.
Supply Chain Management
Hyperautomation can be used to optimize the procurement of materials, logistics, and inventory management, improving efficiency, and reducing costs.
Safety and Risk Management
Hyperautomation can be used to monitor equipment and systems for potential safety hazards, as well as to simulate scenarios and assess the potential impacts of different risks.
Business Process Transformation Suite
The Process Transformation Suite benefits organizations to understand, manage, and optimize business processes. Customized operational cockpits are built using business process transformation, bringing real-time data and process management together. With the process mining capability, monitoring the business processes to achieve operational excellence.
SAP Signavio is a Process Transformation Suite that combines process modeling, collaboration, and analytics capabilities to help organizations design, optimize, and continuously improve their business processes. In the energy and utility industry, SAP Signavio could potentially be used to improve operational efficiency, reduce costs, and enhance the reliability and safety of energy systems. There are a few significant ways in which SAP Signavio may be able to help the energy and utility industry in 2023.
SAP Signavio can model and analyze business processes, identify bottlenecks and inefficiencies, and optimize processes to reduce costs and improve efficiency. The analytics capabilities of SAP Signavio enable enterprises to proactively take action to reduce potential hazards in business operations. The use of SAP Signavio can be used to make sure that an organization's operations adhere to legal requirements, such as environmental laws and safety standards. SAP Signavio's collaboration features can facilitate companies to communicate and collaborate among teams, improving coordination and increasing efficiency. Identifying opportunities to improve customer experience such as streamlining processes or identifying areas where additional training may be needed is possible with SAP Signavio.
Benefits
Cost Reduction
Enhance Efficiency
Manage Compliance Risk
Optimize Processes
Business Cases
DIGITAL TRANSFORMATION
EU companies deal with challenges in process documentation which is unacceptable for transparent and enterprise-wide communication. Having efficient and customer-friendly processes with better communication leads to a successful journey. Issues in providing management to have the best processes and workflows can be resolved with process intelligence. Manual invoice processes are automated to increase process efficiency.
Benefits
Faster and Transparent Process
Efficient Invoice Process
Improved Process Time
Cost Savings
with our expert and start your transformation journey today.
Execution Management System
Celonis Execution Management System (EMS) amplifies the performance level for the company to succeed with the available time and resources. Companies experience breakthroughs in execution capacity by involving process analytics, artificial intelligence, and automation. EMS comprises execution instruments, execution applications, a developer studio, and an EMS store to eliminate execution gaps and maximize execution capacity. EMS is used in Energy and Utility companies in processes such as plant maintenance, purchase-to-pay, customer experience, etc.
Celonis believes that every company can unlock its full execution capacity. Powered by its market-leading process mining core, the Celonis Execution Management System provides a set of instruments and applications, the Celonis Studio as well as platform capabilities for business executives and users. The Celonis EMS offerings help companies manage every facet of execution management from analytics to strategy and planning, management, actions, and automation.
Celonis can model and analyze business processes, identify process bottlenecks and inefficiencies, and optimize those processes to reduce costs and improve efficiency. Celonis' analytics capabilities can detect potential risks in business processes, allowing organizations to take proactive steps to mitigate those risks. Celonis can help organizations understand better and track their business processes, which benefits in demonstrating compliance with regulatory requirements, such as safety standards and environmental regulations. Celonis can be used to analyze and optimize the flow of materials and information within the supply chain management, improving efficiency and reducing costs. Celonis can be used to identify opportunities to improve the customer experience, such as by streamlining processes or identifying areas where additional training may be needed.
Benefits
20% Increase in FTE Productivity
$1.2M Cost Savings
100% Transparency
360° Visibility
Business Cases
PLANT MAINTENANCE
Energy and Utility related companies have the urge to augment their productivity, maintain compliance, and reduce the risks involved in various processes. The organization aims to achieve logistics optimization, workload management, etc. Increasing safety, finding plant inefficiencies, and improving auditing productivity are the key challenges in plant maintenance. EMS benefits EU companies by providing solutions to the above challenges through process mining.
Benefits
$10M Cost Savings
20% Improvement in Work Orders
25% Reduction of Manual Rework
34% Decrease in Rework
with our expert and start your transformation journey today.
Automation
Hyperautomation is a technology that helps to build, deploy, and manage software bots. RPA makes human activities easier by streamlining workflows that increase the business’ operational efficiency. While RPA does the basic automation, Intelligent Process Automation includes advanced technologies such as Artificial Intelligence and Machine Learning along with RPA. Intelligent Document Processing is a technology that extracts and processes data from various sources such as PDFs, handwritten documents, etc. UiPath’s Document Understanding uses bots to extract data using AI. Conversational AI involves chatbots to instantly connect with the users/customers that improvise the customer experience.
UiPath is a robotic process automation (RPA) platform that helps organizations automate repetitive tasks and processes, improving efficiency and reducing the need for manual labor. In the energy and utility industry, UiPath could potentially be used to improve operational efficiency, reduce costs, and enhance the reliability and safety of energy systems. It is important to note that while UiPath can bring many benefits, it is not a panacea and should be implemented thoughtfully, considering factors such as the potential impacts on employment and the need for robust cybersecurity measures.
Automating repetitive tasks such as data entry and processing, freeing up staff to focus on more value-added activities becomes possible with UiPath. UiPath automates andstreamlines business processes which reduces the need for manual intervention and improves efficiency. UiPath's ability to perform tasks with higher accuracy and consistency can help reduce errors and improve the quality of work. UiPath can automate mundane tasks in customer service, such as frequently answering questions or processing orders, freeing up staff to focus on more complex customer inquiries. UiPath can be used to ensure that an organization's operations comply with regulatory requirements, such as safety standards and environmental regulations.
Benefits
6X ROI
70 Hours Saved Per Month
$50K Cost Savings
3X Improved Productivity
Business Cases
ERROR REDUCTION
Energy and Utility companies undergo voluminous transactions every day. There are a lot of manual errors in the transactions which affect the margin to a greater value. Adding on, data analysis and accounting processes are improved. With automation, business processes are elevated and reduce errors by 60%. RPA helps the transitions in regulations and compliance smooth and painless. Digitizing the operations boosts the organization’s growth to achieve its goals.
Benefits
60% Reduction in Errors
$10M Yearly Revenue
$1M Cost Savings
17% Increase in Ops Efficiency
