Energy and Utilities
Customer-centric solutions driving utilities transformation
In the ever-evolving utility sector, companies are shifting towards more customer-centric solutions. Gone are the days when utilities served as energy providers in a one-way distribution model.
Today, the focus is on meeting customer expectations, offering personalised experiences, and embracing innovative technologies. This shift has given rise to advanced solutions catering to customers' needs and preferences.
Customer-centric solutions in the utilities sector
utilities sector is recognising the importance of innovation and customer focus in retaining their clients. With the emergence of startups and disruptive technologies, customer expectations have changed profoundly. Utilities now have the unique opportunity to leverage their assets and offer a personalised, customer-centric experience.
They are developing products that align with what customers want by actively seeking customer feedback and generating customer-friendly solutions. Artificial Intelligence (AI)-based home energy management, payment/transaction management, and other product-based services.
Innovation and customer-centric approach in energy services
In today's competitive energy landscape, innovation and customer focus are crucial for the utilities sector to retain its clients. With the emergence of new technologies and the entry of startups into the energy space, consumers now demand a more personalised utility experience. The utilities sector must embrace innovation and patiently listen to their customers' feedback to stay ahead.
With user feedback and surveys, utilities providers can gain valuable insights into their customers' preferences and pain points. With this knowledge, they can develop customer-friendly products and services that meet user requirements. This customer-centric approach enables the industry to go beyond the traditional role of energy providers and position themselves as trusted partners in meeting customers' energy needs.
A vision of the customer-centric grid
The customer-centric grid is replacing the traditional passive consumption model with active customer participation. Customers now demand instant access to real-time information and a more active role in grid management.
By embracing digitalisation, utilities can modernise the grid and enhance customer engagement. Customers can easily access energy usage information through intuitive online portals or user-friendly mobile apps.
Bundled energy: meeting customer expectations
Customers are no longer satisfied with a provider-rate payer relationship; they seek bundled products and services that offer convenience and efficiency. Companies outside the utility sphere have recognised this demand and are disrupting the market.
For example, Bell Canada offers commercial customers advanced Internet-of-Things (IoT) solutions that help manage energy consumption and expenses. Bundled products and services benefit small and medium-sized business owners. They seek comprehensive solutions from trusted providers with whom they are already in business.
Embracing digitalisation for grid modernisation
The utilities industry must embrace digitalisation to modernise the grid and enhance customer engagement. Leveraging technology, utilities can offer easy-to-access energy usage information through intuitive online portals or mobile apps. It empowers customers to monitor their energy consumption and make informed decisions. Incentive-based energy efficiency programs can also drive customer engagement.
For example, utilities providers can offer real-time energy efficiency insights and reward customers with discounts who actively reduce their energy consumption. Embracing digitalisation requires utilities providers to adapt to their specific region, goals, and customer base, tailoring their approach to suit the unique needs of their customers.
Utilities as providers of customer-centric solutions
By partnering with customers, utilities providers can meet renewable and clean energy standards, improve grid reliability through innovative technology, and move beyond viewing customers as mere ratepayers.
By actively engaging with customers, utilities providers can strengthen relationships, increase customer satisfaction, and unlock greater revenue potential. By leveraging their access to data, providers can analyse and optimise bundled offerings, providing customers with tailored solutions that cater to their specific needs.
Partnering for enhanced customer engagement
Collaboration with customers is essential for utilities to create effective customer-centric programs. Effective communication through various channels, such as online platforms, mobile apps, and social media, is crucial. It helps educate customers and maintains open lines of communication.
The utilities sector can successfully develop strategies that balance comfort, cost, and sustainability by catering to the new generation of consumers, millennials. Millennials, as digital natives, expect more than traditional flyers in their monthly bills. They expect digital content that informs and empowers them to be part of the solution to climate change.
For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like living organisms will be imperative for business excellence. A comprehensive yet modular suite of services is doing precisely that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.
How can Infosys BPM help?
Infosys BPM can provide valuable assistance in driving the utilities business processes solutions toward customer-centric solutions. With enhanced expertise and experience in the industry, we can offer innovative technology solutions and consulting services tailored to the unique needs of utilities.
