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Transforming Power, Utilities and Renewables
Building tomorrow’s enterprise
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. 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.
- Future of value
- Preparing for the journey
- Activate the digital utility with Deloitte
- Organizations that are ‘walking the talk’
- Explore our latest insights
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Communications providers are investing an estimated $2 trillion in 5G and other connectivity technologies over the next five years. What are you doing to take advantage of these new technologies and stay ahead of the pack?
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.
Future of value
A universe of possibilities lies ahead. On the customer front, the future likely will bring advanced interconnected solutions and self-service. 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. Microgeneration and microgrids could change the game for corporate and college campuses, and their power and utility providers. Smart power generation with advanced monitoring and controls, as well as smart transmission and distribution, likely will be widespread in tomorrow’s environment.
The changes ahead bring new complexities and new potential value—and force utilities to up their digital capabilities. Virtual-reality-based training, digital twin assets, mobile work tools, preventive asset maintenance capabilities, and machine intelligence for supporting utility network management. They all will be integral pieces of the digital utility future.
How will you respond? How will you survive—and thrive—in a dynamic digital future?
Preparing for the journey
Becoming a digital utility requires your entire organization to undertake a transformational journey in which your organization becomes a digital enterprise—a journey to be digital, not simply do digital things.
Becoming a digital utilities organization demands more than adopting or exploring the latest technologies. 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. Essential ingredients for transformation include:
How will you deploy technologies such as blockchain or robotic process automation (RPA)? 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?
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? Are you looking at talent needs and the future of work through a digital lens—or the same old lens? 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?
Constant experimentation and iteration
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. What’s your plan for moving forward? How will you incorporate design thinking into your processes? Ultimately, how will your organization become more agile than it is today, and how will it stay agile?
Activate the digital utility with Deloitte
Digital utilities stand to reap big rewards by improving processes, increasing understanding of the customer, empowering employees, boosting security, and mitigating risks. 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.
Click to see an integrated approach for:
Organizations that are ‘walking the talk’
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- Digital transformation in the energy & utilities sector
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