Has your organization begun its digital transformation process? Are you just starting out or well on your way? No matter your answer, remember that digital transformation refers to an operational state and not a destination. Even organizations that are fully digitized need to continuously explore new and better operations.
Digital transformation, in other words, is an ongoing effort much like research and development. The utilities industry needs to be especially ready to adapt and grow. Customer expectations, new technology, and climate change present challenges—and enormous opportunities—for utility companies.
Seem daunting? Let's get motivated. Digital transformation promises a massive potential payoff. Utility companies stand to generate performance gains of 20 to 40 percent by implementing new technologies.
Read on for the top benefits to digital transformation in the utilities industry. And remember, once your digital programs have started, these benefits become ongoing characteristics that you can improve and grow.
Digital transformation helps identify and eliminate areas of waste, both in terms of finances and productivity. Digital lighthouse projects help kick-start and illuminate these benefits so that everyone in your organization gets on board. Lighthouse projects involve setting up a small team that goes through the various departments of your company and analyzes the various ways they conduct their work. This digital analysis uncovers inefficient practices or problems areas in your business that you can then implement digital solutions toward. Once a lighthouse project succeeds, digital transformation tends to work like a flywheel by gaining momentum with each new project.
Digital transformation can also be a remarkable learning experience for utility companies. One you've identified how different departments operate, implementing new technologies can be an empowering experience for both the workers and the management team.
For instance, imagine sending a task force to interview a group of engineers and see how they work. In addition to potentially identifying new technologies, it’s a great opportunity for management to check in and find out what actually happens on across the business. This can produce invaluable feedback that can help improve operations.
Digital disruptors entering the industry put traditional utilities companies at risk. Embracing digital transformation is a great way to stay agile and nimble enough to pivot and capitalize on new opportunities.
No-code platforms create flexible, agile, and powerful technological solutions for businesses. Workers, project managers, and IT professionals create applications that provide standardization while allowing immense customization and options. Employees get tools they need to complete jobs quicker and from anywhere.
A key factor in job completion is getting the data recorded and then entered into the system. Often, that might involve workers having to transport paper documents to computers or offices. With mobile applications, workers can record and upload data directly to the server from their phone, cutting out a lot of the legwork.
Utility companies that undergo digital transformation also have the opportunity to become customer experience (CX) leaders — a strong differentiator in a field that typically ranks very low in customer satisfaction reports. Successful utility companies use a combination of data, smart devices, intelligent apps, and more to provide stellar customer service that translates into stronger experiences.
Customer experience is often based around response time, ease of use, and transparency. When workers have more freedom and power to complete their jobs efficiently, customers enjoy quicker and more reliable service. Everyone wins.Post Comment