The energy and utilities industry is currently undergoing a rapid transformation driven by various factors such as changing energy sources, complex regulations, and evolving customer expectations. With the increasing demand for renewable energy sources and the need for efficient distribution, organizations in this sector are facing new challenges in this digital era. Legacy systems, scarcity of resources, and the requirement to quickly adapt to regulatory changes pose significant obstacles. In this article, we will explore 3 main challenges and discover how CLEVR can help energy and utilities companies overcome these hurdles, drive digital transformation and ultimately, enhance customer service.
What Are the Key Challenges Energy Companies Encounter?
- Legacy Systems Holding Back Progress:
Legacy systems have become a barrier to progress in the energy and utilities industry. These outdated systems are ill-equipped to keep up with the fast-paced economy. They lack the necessary capabilities to leverage emerging technologies like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and distributed ledger technology. As a result, companies find it difficult to evolve at the required speed to meet industry demands.
- Scarcity of Resources and Operational Efficiency:
Another challenge faced by energy companies is the scarcity of resources, particularly skilled workforce. The operational efficiency of energy and utility companies is compromised due to the lack of available workforce. This shortage not only hinders day-to-day operations but also impacts the ability to execute essential tasks efficiently.
- Rapid Regulatory Changes and Compliance:
The regulatory landscape in the energy and utilities sector is becoming increasingly complex. Companies must adapt quickly to meet regulatory requirements surrounding decarbonization, digitalization, and decentralization. Failing to comply with these rapid changes can result in penalties and hinder business growth.
“By 2025, energy companies are likely to implement technologies such as AI/ML (94%), Secure Access Service (86%), Distributed Cloud (89%), and 5G (89%). These technologies will drive innovation, efficiency, and improved connectivity in the energy sector.” Source: Gartner
How CLEVR can help?
CLEVR recognizes the need for assistance in navigating the disruptive transformation happening in the energy industry. Our approach involves collaborating with our customers to establish resilient business models and provide expert guidance in cultivating the necessary technology and know-how essential for achieving success in this rapidly changing market, this includes domain such as Field Services Management, Servitization and Customer Service.
Expanding on CLEVR's distinctive capabilities, the company specializes in delivering tailored solutions specifically designed for companies operating within the energy and utility sector. One of CLEVR's key offerings is low-code solutions powered by Mendix, a leading platform in rapid application development. This empowers energy and utility businesses with the tools to effectively address their unique challenges, streamline operations, and enhance customer experiences. Our commitment to providing adaptable and future-proof solutions ensures that our clients stay ahead in a rapidly evolving market.
Joining hands with CLEVR means embarking on a transformative journey of innovation and success. Our collaborative approach, advanced technology solutions, and commitment to excellence set us apart as a trusted partner in driving business transformation. Contact Us Today and Let’s Build Tomorrow Together.
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