Depending on the marketplace and business model, utility companies face unique as well as universal challenges caused by digital transformation and the entrance of new players into the sector. However, these same challenges are also windows of opportunity, providing utility businesses with the tools they need to survive and grow sustainably in an increasingly mobile, efficiency- and customer-driven economy.
Challenges for utilities distributors, producers and retailers
The solution to all of these challenges hinges on one key evolution: utility companies must become smart. To become truly smart, businesses must collaborate effectively with consumers and other industry players, rely on big data insights to streamline operations, offer IT solutions to a mobile workforce and develop new service models.
Innovations that pave the way to excellence
A number of new technologies are now becoming available to companies that have the potential to completely change the way utilities businesses address risks, operate, interact and offer services, enabling:
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