Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. Read these about these 3 key areas. We found plenty of uncertainties, but four scenarios clearly emerged based on our research. Accenture did a tremendous effort in this regard and summarized it all in a great infographic on the “digital utility”. Please enable JavaScript to view the site. As consumers evolve and have an ever growing need for connectivity, the electric utilities … Digital Utilities Maturity Assessment: The starting point of the digital transformation journey is an assessment of the Utilities current maturity on the digital agenda. A podcast by our professionals who share a sneak peek at life inside Deloitte. It is to find completely new ways to conduct their business. US Energy, Resources & Industrials Industry Leader, Telecommunications, Media & Entertainment, Activate the digital utility with Deloitte, Organizations that are ‘walking the talk’. Please see www.deloitte.com/about to learn more about our global network of member firms. Why Utilities Need Digital Transformation. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Today, digital is transforming the way power and utilities companies … Any water utility, regardless of its phase in their digital transformation journey, can see increases in ROI from past investments and make the most of existing technology structures by … The utility industry traditionally was a rather slow mover in technology adoption but is challenged to be a fast mover when it boils down to digital transformation and the adoption of specific technologies to enable the smart infrastructure, processes and data it needs to be future-proof as competition increases, customer demands change and the industry is in full flux. Cloud computing is changing the way organizations are doing business. Namely … By 2022, 20% of digitally determined utilities… By 2022, 20% of digitally determined utilities’ revenues will come from new products and services, Digital transformation: focus on the utilities industry, utility industrial control systems security report, IDC’s top 10 worldwide utilities predictions 2019, IDC’s Top 10 Worldwide Utilities 2019 Predictions, Utilities – digital transformation and opportunities across the value chain – via Accenture – click for full image, Emergence and transformation of digital utilities in the “smart” era. Utilities need not necessarily have contingency plans in place for every possible digital scenario. One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. The Future of Utilities: Powered by Connectivity. Transform your power and utilities organization into a digital utility, and you can begin to get ahead of tomorrow’s challenges—to become a customer-driven organization that can deliver new efficiencies, uncover new insights, explore new business models, address challenges more proactively, and provide new dimensions of customer service. One of the greatest risks utility grids face are cyber-attacks. In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility… The Consumer Council for Water (CCWater) allows retailers to submit complaints on a monthly basis, which helps the council to identify and solve problems with non-domestic water supply. In this Energy, Resources & Industrials (ER&I)–specific report, we’ll explore these trends from the lens of each of the industry’s sectors. This box/component contains JavaScript that is needed on this page. The company sums up the business imperatives, challenges and solutions in three segments: The infographic and where digital technologies, the digital landscape and transformational initiatives fit in, speaks for itself so check it out. Communications providers are investing an estimated $2 trillion in 5G and other connectivity technologies over the next five years. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities … Electric, gas, and water utilities are investing in digital technologies to improve in areas such as operations, regulatory compliance, reliability, safety, and customer satisfaction throughout their organizations. To begin, they must develop a digital transformation strategy that can be successfully embedded and … Smart is indeed the word we stumble upon in all aspects of digital within a utility industry context and overall service economy context: from smart meters to smart cities (where utilities come into play as well, smart grids) and smart parkings. Ongoing business disruption, data growth, and the decarbonization trend are putting businesses to the test, but utilities today stand on the edge of something big: a new era of opportunities and previously unimagined outcomes. This message will not be visible when page is activated. The Consumer Council for Water (CCWater) … Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility … System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. By adopting a holistic view of inventory management. Projects that were languishing were suddenly boosted to the top of the management priority list. It's easy to assume - looking at industries like media, retail, and tech - that all industries have made the switch to digital technology. System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. April 10, 2018. change your targeting/advertising cookie settings. “‘Digital Water: Industry Leaders Chart the Transformation Journey’ leverages the insights of IWA members to help utilities learn from their peers, harness the power of digital technologies and enable communities around the world to become more water-secure,” states Kala Vairavamoorthy. We embed benchmarking on several essential business processes in the assessment to quantify tangible performance results. Get your Free Digital Adoption … In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility’s assets are serviced, maintained, replaced and restored to ensure reliability. Digital Transformation in utilities from around the world Thames Water adopted remote asset monitoring to anticipate mechanism failures and respond in real time. The commercial model is also one example of how utility companies need to and can go beyond optimizing “what is” but truly review business models, for instance with alternative pricing models. On the customer front, the future likely will bring advanced interconnected solutions and self-service. Read more about the digital transformation This disruption is already visible in markets worldwide: Various utility startups have transformed the industry’s landscape by introducing unique, cutting-edge solutions to markets that are longing for change. Learn more. Long-term success comes from a more focused approach, harnessing digital capabilities to meet the challenges that utilities … In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Utility companies stand to generate performance gains of 20 to 40 percent by implementing new technologies. Jian Wei is a principal leading digital transformation in Deloitte’s Power and Utilities practice. Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. As in all industries, end-to-end process automation is a core catalyst for digital transformation with connected devices, consumers, operations, and utility … Tomorrow’s digital utilities will foster innovation by engaging in constant exploration and discovery—with the understanding that innovation often occurs in unproven or unknown domains. The presentation focuses a lot on the customer experience, as often mentioned today de facto a key driver in the bigger digital transformation picture. For more than 20 years, Ben has demonstrated success delivering large, complex business t... More, Powering change in the utilities industry. So, let’s look at some of the technological evolutions playing a crucial part in the utilities industry. Today, digital is transforming the way power and utilities companies operate—how they create value, serve customers, manage costs, optimize processes, and capture new market opportunities. Driven by sustainable environmental needs, the emergence of prosumers and the evolution of technology, the water utility industry is on the verge of one of the largest digital transformations in its 100+ years of existence. Thepower and utilities sector was traditionally where many parents or grandparents parked their savings as they got older, attracted by low volatility and stable returns. Digital Disruption – Water Utilities 2019. Given the importance of the utility industry (critical), cybersecurity is at least as essential. Do you know and understand your organization’s digital DNA—the core traits that can help you operate and innovate in the future, such as your ability to collaborate intentionally, “democratize” information, and operate with morphing team structures? With the added strain of the COVID-19 crisis further stretching municipal budgets, creating remote workforces overnight, and introducing a new level of uncertainty, it’s imperative that IT leaders of public utilities take a hard look at systems and processes to begin the process of digital transformation now. Increasingly, digital is becoming the foundation for most business applications. While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. Essential ingredients for transformation include: How will you deploy technologies such as blockchain or robotic process automation (RPA)? Share. To expand the capabilities of their current assets while preparing for the infrastructure of tomorrow, utilities are beginning to undergo a full digital transformation that includes changes to … Digital transformation: focus on the utilities industry Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. Enabling Digital Transformation in the Utilities Industry Delivering Visibility Without Borders for security, network, and application assurance across traditional data centers and multi-cloud environments. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. Click to see an integrated approach for: Fullwidth SCC. And clearly, older systems are out of step with the priorities (and … Read on for the top benefits to digital transformation in the utilities industry. Along with the complexity of the utility value chain and fast-evolving evolutions thinking ahead and grasping the benefits of “new technologies” is key in this extremely competitive and sensitive market with many fluctuations in the broader ecosystems. How will you embed a truly digital mindset and digital work into all your activities and operations—strategic planning, budgeting, process improvement, employee development, mergers and acquisitions, third-party relationships, customer engagement, and beyond? The industry is built upon billion-dollar infrastructure projects, from power plants to natural gas pipelines, that are designed to last for decades or longer. How will you survive—and thrive—in a dynamic digital future? How the Program supports agencies DTTL and each of its member firms are legally separate and independent entities. Let’s create a plan today. Peter Peters, Partner addresses how power and utility clients can bring digital transformation … How are utility companies planning their journey to become a truly “Digital Utility”? The 2020 Human Capital Trends focus on answering a paradoxical question: Can organizations remain distinctly human in a technology-driven world? A few of the drivers of digital transformation within the utilities industry include: Leveling out power demands, thus reducing peaks and valleys, which requires smart meters, combined with the Internet of Things (IoT), to gather near-real-time consumption data. How will you respond? The Blueprint is a design for a secure modern desktop for government agencies based on Microsoft 365. Digital transformation efforts often founder on the sheer complexity of using technology to increase a company’s speed and learning at scale. There are of course more technologies and digital evolutions in the utility industry whereby we find more ‘traditional’ technologies (cloud, for example) and more advanced ones (e.g. This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. Common business goals include improved interactions with customers, more streamlined operations, greater efficiencies, and hopes of triggering new business models. The article also states that only a … Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams. Digital Transformation in utilities and construction is no longer a luxury or an afterthought. Explore how digital transformation within the financial close process helps these organizations take advantage of these opportunities. Although digitalization of energy sector is progressing at a fast pace, energy and utilities companies are only approaching the Energy 4.0 and smart energy concepts, nevertheless paving the way to digital transformation of the entire industry. The pandemic forced utilities to veer away from traditional ways of conducting However, the dimensions of operating models, technology architecture and – last but not least – commercial models are mentioned as well as you can check out below (with some cases too). This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. Digital transformation in utilities: the rise of connected workers. One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. When conveniently used, AMI can help utilities take their digital transformation to the next level. Discover Deloitte and learn more about our people and culture. Ultimately, how will your organization become more agile than it is today, and how will it stay agile? A universe of possibilities lies ahead. Virtual-reality-based training, digital twin assets, mobile work tools, preventive asset maintenance capabilities, and machine intelligence for supporting utility network management. To view this video, change your targeting/advertising cookie settings. It caused a systemic shift in technology adoption, from the very beginning of the pandemic. Implementing the Roadmap to Recovery: The roadmap to recovery is a strategic plan for the navigation of Covid-19 and beyond, aiming to increase activity across the utility and construction sectors and accelerate adjustment to the ‘new normal’. See Terms of Use for more information. In another decade, our daily work and personal lives will be infused with digital operations. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In this overall technology picture IoT (the Internet of Things, more specifically Industrial IoT), artificial intelligence and edge analytics play an important role as do other technologies typically encountered in the scope of Industry 4.0. Digital transformation is happening not only in the tech industry, but also in unlikely industries like the utility business. The Protected Utility Blueprint. Becoming a digital utilities organization demands more than adopting or exploring the latest technologies. All of this accelerates decarbonization because less fuel is needed to produce the same amount of power. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. Among the (really many) challenges facing the utilities industry overall (and making abstraction of regional differences): The graphic below summarizes just a few of the mentioned challenges. 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