Challenges & Opportunities in the Energy Sector
The economic downturn has impacted the Energy sector significantly. Capacity shortage across the value chain has raised the price of crude, gas and refined products. Companies face pressure from regulators, demanding customer expectations, rising SG&A expenses and a wave of mergers and acquisitions.
Energy companies are under pressure to improve shareholder value and address challenges of energy security and sustainability. Given the changes in the geopolitical, environmental and economic scenario, there is increased pressure on the industry to improve shareholder value, and address challenges related to energy security and sustainability. It has resulted in a movement to remote areas for exploration, and outsourcing of non-core activities and operational excellence initiatives. Energy companies can outsource more processes/ functions and reduce the number of contractors.
Challenges & Opportunities in Utilities
Utilities is one of the most asset-intensive industries. The most critical business issues faced by the are improving customer retention, cross-selling in existing markets and capitalizing on opportunities in emerging markets. Aging workforce is also a concern since the existing knowledge within the workforce is the key to organizational sustainability. Utilities need to continuously improve operating efficiencies to deliver better and faster results at a lower cost.
Utilities can outsource non-core activities such as IT, Finance & Accounting, customer service and supply chain management to ensure reliable service with a variable cost structure. Business process management can help companies improve collections and increase process automation.
AMI and Meter Data Management implementation enable Utilities to improve customer reach and realize benefits of improvised billing, better customer service and most importantly demand response.
Business Process Problems Energy and Utilities Must Solve
Infosys BPM’s Outsourcing Services for Energy & Utilities
Infosys BPM caters to specific requirements of Energy and Utilities industries, providing services such as master data management (material, vendor, customer and employee), flex-staffing, supplier performance management & analytics, engineering documentation, advanced metering infrastructure (AMI) support – data validation, new product/ feature support, and meter data analytics.
In the current economic environment, our supplier performance management service helps Energy and Utility companies to rationalize vendors and address inefficiencies in the system to unlock value.
We partner with companies in the planning and deployment stages of AMI through our AMI Support Services.
Our Global Well File Digitization Services help energy companies (including Oil Field Services players) to ensure correct, de-duplicated data (well data, land data and pipeline data) which can be retrieved quickly.
Infosys BPM undertakes short-term gestation projects including but not limited to Industry Research, Credit Research and Spend Analytics.
Our functional practice has industry experts in multiple areas to drive the road map for business process management in several areas:
Benefits of Business Process Services for Energy & Utilities
Faster decision-making process