No utility executive should be thinking about measuring the success of digital transformation by the number of mobile developers hired, scrum masters trained or dollars invested. 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. Utilities need not necessarily have contingency plans in place for every possible digital scenario. See Terms of Use for more information. Peter Peters, Partner addresses how power and utility clients can bring digital transformation … Please enable JavaScript to view the site. Click to see an integrated approach for: Fullwidth SCC. 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. 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. 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. Digital Transformation in utilities and construction is no longer a luxury or an afterthought. This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. The first iteration of the Blueprint was launched by the Protected Utility Program in March 2020 and was developed in partnership with Microsoft and independent security assessors. Amihan provides digital strategy & consultation and technology solutions to help utility companies drive their digital transformation journey forward.. From data analytics to process automation to cloud … 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. When looking at the broader utility industry ecosystem, it’s important to break up the “chain” and see the various challenges and opportunities per element of the value chain as energy, water etc. Digital Disruption – Water Utilities 2019. Cloud computing is changing the way organizations are doing business. For the Power Utilities industry, there are two key factors driving the move toward digital technologies. 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. One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. What’s your plan for moving forward? Digital utilities stand to reap big rewards by improving processes, increasing understanding of the customer, empowering employees, boosting security, and mitigating risks. 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. 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, … For more than 20 years, Wei has directed high-impact engagements from strategy through execution, working at the intersection of innovation, digital technologies, operations, and organizational maturity. Essential ingredients for transformation include: How will you deploy technologies such as blockchain or robotic process automation (RPA)? A digital transformation can help water utilities to become more energy-efficient, less labor-intensive, more compliant with regulatory directives, and allows for streamlined communications among departments. Get your Free Digital Adoption … 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? Digital Transformation for Power Utilities Projects. 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’. 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. Data collection is just the first step. There are many players in the utility chain so the challenges, evolutions, technologies and transformations are not the same for all components of that chain. 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. Jian Wei is a principal leading digital transformation in Deloitte’s Power and Utilities practice. It's easy to assume - looking at industries like media, retail, and tech - that all industries have made the switch to digital technology. All images belong to their respective mentioned owners. For more than 20 years, Ben has demonstrated success delivering large, complex business t... More, Powering change in the utilities industry. On the customer front, the future likely will bring advanced interconnected solutions and self-service. Most leadership teams understand the … Read on for the top benefits to digital transformation in the utilities industry. By adopting a holistic view of inventory management. Digital enterprise solutions. Forces such as rising customer expectations, evolving technologies, growing competition, increasing regulatory pressures, and aging infrastructure are driving gas, water, and electricity providers to become digital organizations. The Blueprint is a design for a secure modern desktop for government agencies based on Microsoft 365. change your targeting/advertising cookie settings. Why Utilities Need Digital Transformation Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams It's easy to assume - looking at industries like media, retail, … One unintended side effect from the COVID-19 pandemic has been the boost given to digital technologies among utilities. And clearly, older systems are out of step with the priorities (and … In this Energy, Resources & Industrials (ER&I)–specific report, we’ll explore these trends from the lens of each of the industry’s sectors. 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. Learn more. The energy and utilities industries are undergoing a dramatic shift driven by rising stakeholder and customer expectations, increasing economic, and political uncertainty, and emerging new technologies. The challenges utility firms face are diverse. April 10, 2018. 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. 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 … For more than 25 years, Reid has specialized in the delivery of business and technology enterprise tra... More, Ben is the leader of Deloitte’s US Consulting Power, Utilities & Renewables practice, Deloitte Consulting LLP. Increasingly, digital is becoming the foundation for most business applications. Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams. The pandemic forced utilities … Increasingly, digital is becoming the foundation for most business applications. Energy 4.0: Digital Transformation In Energy & Utilities Industry Technology has been increasingly adopted by all major industry sectors over the last several years—and the energy industry is no … Becoming a digital utilities organization demands more than adopting or exploring the latest technologies. © 2020. Changing customer demands rule all. Data science coupled with technologies such as smart meters, for example, can offer new data-driven insights into your customers, their consumption, energy efficiency, and behaviors. Digital transformation isn’t a once-and-done operation and, as 2020 has demonstrated so well, priorities can change in an instant. Certain services may not be available to attest clients under the rules and regulations of public accounting. We added an graphic below with an overview of the six major and most pressing industrial control systems risks for the utility industry as ABI Research identified them. US Energy, Resources & Industrials Industry Leader, Telecommunications, Media & Entertainment, Activate the digital utility with Deloitte, Organizations that are ‘walking the talk’. To view this video, change your targeting/advertising cookie settings. For utility firms the challenge is not just to review, optimize and transform existing processes and business models. The digital transformation will have a great impact on consumers and I think it is very important to ensure that any change comes with a communication strategy to convey the effects of the digital transformation to all 'digital' stakeholders, including consumers, workers, regulators, ecosystem actors, etc. It is to find completely new ways to conduct their business. 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. 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 … Common business goals include improved … Digital transformation in utilities: the rise of connected workers. Microgeneration and microgrids could change the game for corporate and college campuses, and their power and utility providers. The Future of Utilities: Powered by Connectivity. However, today utilities only thoroughly analyze, on average, about 10 percent of the data they collect (2015 CIO Forum). Digital transformation has created new potential and possibility for the future of power consumption to make systems run more sustainably and simply. Please see www.deloitte.com/about to learn more about our global network of member firms. 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 … Digital Transformation in utilities and construction is no longer a luxury or an afterthought. Communications providers are investing an estimated $2 trillion in 5G and other connectivity technologies over the next five years. 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. While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. Do not delete! Discover Deloitte and learn more about our people and culture. Today, digital is transforming the way power and utilities companies … In another decade, our daily work and personal lives will be infused with digital operations. Projects that were languishing were suddenly boosted to the top of the management priority list. Digital transformation is happening not only in the tech industry, but also in unlikely industries like the utility business. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Combining device level data with the ability to orchestrate work in an end-to-end fashion will connect the silos between data and action in the utilities industry. And remember, once your digital programs have started, these benefits become ongoing characteristics that you can improve and grow. Emerson’s Juan Panama and Mark Jordan presented on building the utility of tomorrow, today at the 2019 Ovation Users’ Group conference. How can utilities address carrying cost and regulatory lag? Digital transformation in the utilities industry is going to the next level. 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. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. It caused a systemic shift in technology adoption, from the very beginning of the pandemic. The article also states that only a … Namely … Let’s create a plan today. Accenture did a tremendous effort in this regard and summarized it all in a great infographic on the “digital utility”. 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 … are such complex ecosystems. Reduced waste 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. When conveniently used, AMI can help utilities take their digital transformation to the next level. Share. Field workers are facing operational, organizational and digital disconnections due to an aging workforce and changing job expectations, spurring the need for a digital transformation in utilities. 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. "Digital transformation efforts have become a high priority for many utilities. It requires shifting the way your business operates—to activate a truly digital enterprise that can continuously redefine what it offers and how it delivers. Digital Transformation for the Utilities - An Overview Get Published - Build a Following The Energy Central Power Industry Network is based on one core idea - power industry professionals … This message will not be visible when page is activated. In the last 10 years across the utility industry, no one in the C-suite has been under more scrutiny than the CIO. According to an article in one of the premium publications, only one in ten pursue digital transformation outside of pressure from regulators, customers, or competition. 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. And how will your digital utility incorporate the Internet of Things (IoT), in-memory computing, analytics and cognitive tools, augmented/virtual-reality capabilities, and wearables to revolutionize business processes? 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. Successful digital transformation for utilities providers Successful digital transformation for utility providers As customers demand digital, responsive and trustworthy service from their utilities providers, companies must reorient every move to put the customer at the core. Transforming Power, Utilities and Renewables has been saved, Transforming Power, Utilities and Renewables has been removed, An Article Titled Transforming Power, Utilities and Renewables already exists in Saved items. One of the greatest risks utility grids face are cyber-attacks. By 2022, 20% of digitally determined utilities… 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. 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. 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. 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). More about security in the utility industry in the article on the utility industrial control systems security report. Its main goal was to keep the lights on without breaking the bank. The focus was on how to start down the path to digital transformation… Our “see, think, do” approach to transformation means we can help you identify needs and opportunities, visualize your future state, thoughtfully design processes and strategies to support your “to be” vision, and perform the hands-on work for turning that vision into a reality. How the Program supports agencies We found plenty of uncertainties, but four scenarios clearly emerged based on our research. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. As consumers evolve and have an ever growing need for connectivity, the electric utilities … The Consumer Council for Water (CCWater) … This box/component contains JavaScript that is needed on this page. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. 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