Peter Peters, Partner addresses how power and utility clients can bring digital transformation to the heart of their organizations. Stakeholders demand greater transparency into the supply chain to optimize operations and cut costs. Technology has been increasingly adopted by all major industry sectors over the last several years—and the energy industry is no exception. By 2022, 20% of digitally determined utilities’ revenues will come from new products and services (IDC) Digital intervention for extracting wealth out of the siloed data from multiple distributed assets and putting it to work to create a connected experience across functions is what businesses in the energy and utilities domain need. AR and VR simplify tracking and inspection of tens of thousands of parts, identification of errors, and locating the exact source of the error. Projects that were languishing were suddenly boosted to the top of the management priority list. They also assist maintenance crews in following the standard operating procedure via visual guidance. Subscribed to {PRACTICE_NAME} email alerts. ... where he has delivered large-scale transformation projects with country-wide impact for key clients around the region. 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. Unfortunately, a higher pace of innovation and a greater focus on digital strategies are needed to survive and succeed in the energy sector today. Comprehensive interview sessions, workshops, and plant and site visits help us to assess technological gaps and propose a customized digital roadmap best suited to our client’s requirements. Unfortunately, despite the availability of a huge amount of valuable information, a major portion of the data is traditionally siloed across business units due to which companies involved in conventional power generation, renewable energy generation, power transmission and distribution, retail energy services and water companies are unable to optimize their processes. The proliferation of disruptive... Happiest Minds enables Digital Transformation for enterprises and technology providers by delivering seamless customer experience, business efficiency and actionable insights through an integrated set of disruptive technologies: big data analytics, internet of things, mobility, cloud, security, unified communications, etc... © Happiest Minds 2020     Terms and Conditions Privacy Policy. Beyond the energy sector "Digital Transformation", "Industry 4.0" or "Awakening of the Data Economy" are key issues, describing a rapid and profound transition of our economic life. In our 2018 Smarter Utilities Survey and Report, we asked 100 executives about industry disruption and how prepared they are for the transformation journey ahead. Peter Peters, Partner addresses how power and utility clients can bring digital transformation to the heart of their organizations. Although digitization of energy and utilities management is not yet the reality in all companies, this process is here to stay and only brings benefits to those who employ the technology to assist and improve processes. CXO-level management dashboards allow decision makers to analyze investments, the total cost of ownership of each of their sites, worker productivity, and more. 0. In a span of 6-8 weeks, we enable transformation across all levels and functions of the organization. We automate the procurement process for sourcing raw materials or hardware assets that go into generation plants, transmission lines, and substations, helping enterprises save cost and effort. Our solutions around AR, VR, and handheld devices have been empowering maintenance crews in plants dealing with renewable energy, power generation, transmission, and distribution. All of this accelerates decarbonization because less fuel is needed to produce the same amount of power. Happiest Minds evaluates current operational processes and IT architecture and then helps clients in the energy and utilities segment utilize state-of-the-art technologies to enjoy a connected experience with connected assets and a connected workforce, leading to centralized maintenance and centralized operations. IoT and radio-frequency identification (RFID) have redefined asset management and tracking in connected plants. While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. Leveraging the latest in technology to automate workflows and processes can deliver greater value across all stages in the user journey: Together, big data, Internet of things (IoT), artificial intelligence (AI), machine learning (ML), augmented reality (AR), virtual reality (VR), and other revolutionary technologies offer the promise of a brighter future for energy and utilities companies. Digital transformation has been an essential part of most businesses, with 70% of businesses in 2019 working on some kind of strategy. Cloud-based provisioning and services have been slow to catch on within the utilities industry, but has gained momentum in recent years. With the Terra Numerata initiative, our ambition is to help European champions become digital market leaders rather than followers. READ MORE Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. In the present digital era, the industrial world—and in particular, the energy and utilities sector—has been witnessing exponential growth in data. January 30, 2019Digital has helped many organizations generate greater efficiencies across their operational business units, significantly improve customer experience, and accelerate innovation to allow them to stay ahead of the competition in rapidly changing markets. CREATING A DIGITAL TRANSFORMATION ROADMAPÂ. Energy and utilities providers face more uncertainty than ever before as they grapple with price volatility, geopolitical and regulatory instability, newly viable technologies, and increasing calls to decarbonize. Realize your digital potential, from upstream production and refining to utilities and energy services. parts of the ongoing transformation of the energy sector. Please try again later. Please use UP and DOWN arrow keys to review autocomplete results. Rapid application development becomes a reality and existing customer management systems can be extended and enhanced with new functionality. Executive summary 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. Our flagship business publication has been defining and informing the senior-management agenda since 1964. We leverage wearable device technology to help them track and confirm worker safety. The pandemic forced utilities to veer away from traditional ways of conducting Digital Transformation Services for The Energy & Utilities Industry Organizations in the Energy and Utilities industry face document challenges in a broad range of functions. Flip the odds. Digital is playing an increasingly important role in managing these challenges. (6) Digital Transformation in Energy and Utilities: QA Implications. Effective effluent treatment & compliance with standards, Chatbot/ Digital Assistant for customer service, End-End integration of sensors/assets, enterprise systems to help transform from a traditional utility provider to a digital player. January 30, 2019 Digital has helped many organizations generate greater efficiencies across their operational business units, significantly improve customer experience, and accelerate innovation to allow them to stay ahead of the competition in rapidly changing markets. By equipping virtual power plants (VPPs) with forecasting controls, demand response, distributed generation, and mixed assets, Happiest Minds facilitates grid optimization and distributed energy resource aggregation. ... Less than 20% of IT budgets are used to deliver innovative energy services. The framework comprises pre-assessment questionnaires, stakeholder discovery sessions, workshops for reviewing findings, analyzing value creation opportunities, defining the technology strategy and execution approach, and finally, developing an optimum time-based implementation roadmap for new initiatives to ensure early success outcomes. collaboration with select social media and trusted analytics partners With sensor readings that offer accurate real-time information, we help decision makers make informed choices at the right time. Digital intervention for extracting wealth out of the siloed data from multiple distributed assets and putting it to work to create a connected experience across functions is what businesses in the energy and utilities domain need. As per the WQR 2016-2017, a key technology change associated with digital strategies is cloud adoption. 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