A time of fundamental change
Rapid technological change and changing customer behavior are forcing utilities to rethink how they work and the services they provide. Deregulation, decentralization, decarbonization and digitalization are changing business models; customer satisfaction, omnichannel experience and the use of data have become increasingly important for success. But change is not easy: Technical debt and sheer operational complexity may mean larger organizations find it hard to respond; new, more nimble players can move fast but may struggle to scale. Whatever the situation, regulatory compliance is a significant burden that can’t be ignored. In this competitive environment, firms that embrace rapid adaptation of IT systems through automation will be best placed to capitalize on the opportunities available.