This writing entails the industry-specific features for the Utilities industry offered by RISE with SAP’s business transformation service. Let’s begin by understanding the strategic priorities and their benefits for the Utilities industry!
Many utilities are transitioning from strictly “metering-oriented suppliers” of gas, water, and electricity to “customer-oriented full-service providers” with a diverse variety of services ranging from e-mobility and smart home solutions to fast data connections for private houses and even Industry 4.0.
Meeting these issues requires a contemporary IT infrastructure, ideally in the cloud in whole or in part, dynamically deployable applications, and seamless connectivity. RISE with SAP meets the above requisites and offers you with:
- Improved master-data governance
- Real-time dashboards, visualizations, and predictive capabilities
- Accurate and integrated performance reporting
- New insights into customer data and demand
- A flexible platform that will adapt to changing requirements and future growth
Most utilities are unable to make a complete transition to the cloud at this time, owing to the lack of a comprehensive, native cloud solution. As a result, a hybrid solution is now the best method for many businesses to become leaner, more flexible, and hence more competitive, and it will likely stay so in the future.
The SAP S/4HANA digital core and improved business analytic tools together offer game-changing capabilities for utilities as they strive for more business agility, greater customer-centricity, and new business models and revenue streams. The following are some of the benefits of the RISE with SAP platform:
- Enhanced user experiences
- System performance optimization, faster reaction times, and analytics processing
- Cost savings
- A wide range of ERP and CRM programs are supported by hundreds of built-in connections and functions
Upcoming developments include partner updates for the SAP Cloud for Energy solution as well as digital cooperation with stakeholders, such as in maintenance and procurement.
Though the Utilities industries are highly benefitted through SAP’s intelligent enterprise solution, it’s important to know what the Utilities industries think about their digital transformation guided by SAP,
Utilities Industry’s outcome-driven results from RISE with SAP
- 92% of client contacts are automated on a self-service portal with lower expenses and higher customer satisfaction
- Customer satisfaction improved from 15% to 40%
- Due to automated procedures and a single data source, operational data is processed 30% faster
- Customer billing, credit, and collection costs will be reduced by 5% to 50%
- An increase in overall equipment efficacy from 5% to 25% is possible
(Note: Data was taken from SAP’s statistics)
Now we do have a clear-cut view of the provider’s offering and the implementer’s requisites; well how do we blend them?
Before jumping in, we should also know what the Utilities industry is planning for the sustainable industry 4.0 implementation in the years ahead with RISE initiative; Let’s begin by understanding RISE with SAP,
What is RISE with SAP?
Enterprises of the digital era have been seeking to operate their business computations through the cloud as digital transformation’s expedition has started for most enterprises.
Many small and midsize enterprises have already transformed into intelligent enterprises, while large businesses with multiple ERP systems and other corporate applications are still in the process of transformation.
SAP RISE initiative offers you “business transformation as a service.” More than its basic ERP features, RISE with SAP is about ERP as a service powered by SAP S/4HANA, combined with other intelligent business services to create value. RISE with SAP’s strategy is designed to help you transition to an intelligent enterprise running on SAP S/4HANA Cloud, with access to SAP Business Network and services to meet your unique business requirements, including best practices, business process intelligence, transformation program planning, and a range of industry-specific cloud-based solutions.
Future of the Utilities Industry with RISE
- Deregulation of the energy sector: New players are causing havoc in the once-stable energy business. Utilities must digitalize their outdated systems or risk losing market share to more nimble rivals that can make use of distributed energy resources (DER), decentralized networks, and energy management at the “grid edge.” Traditional suppliers can diversify their business models and generate new revenue sources by upgrading.
- Challenges of Decarbonization: Renewable energy is becoming more inexpensive and appealing. However, as utilities transform into sustainable energy businesses, they confront additional issues, such as weather-controlled power output uncertainty and the resulting influence on-demand models. To efficiently offer the sustainable energy that customers need, they require precise, real-time data.
- Decentralization: Prosumers own distributed energy resources (DERs), which include rooftop solar systems, battery storage, and electric vehicle chargers. They want their utility bill to reflect both the electricity they consume and the power they create. Billing must now go from being a mechanism of collection to a point of connection and conversation with customers.
- Digitalization for sustainability: Grid resilience is crucial at a time when weather disasters are at an all-time high. Energy businesses with old physical assets and paper-based legacy systems, on the other hand, are unable to take advantage of advances like smart grids, smart metering, and local energy balancing that improve dependability. They require a sophisticated, integrated, cloud-based system immediately.
Time to look into the innovations offered by RISE with SAP for the Utilities industry;
Innovations of RISE with SAP for the Utilities Industry
The utilities industry is at the forefront of a tremendous worldwide transition toward sustainability and renewable energy. Reduce risk, save costs, and shorten time to market to meet changing market needs. You may add value to your RISE with SAP solution by increasing company innovation with the following:
- SAP Predictive Asset Insights: With the Internet of Things, you can go from reactive to proactive maintenance and servicing (IoT).
- SAP Asset Manager: Improve the dependability and performance of your assets by extending their life.
- SAP Cloud for Energy: Manage and analyze metering-related Big Data.
- SAP Subscription Billing: Make your billing operations more efficient and automated.
The RISE with SAP Value
- Offers you predictable income sources by enhancing the upsell and cross-sell possibilities and increasing the efficiency of the energy services portfolio.
- Reduce expenses, optimize R&D expenditure, achieve high cash conversion cycle efficiency, and enhance uptime and asset utilization by enabling intelligent and autonomous operations.
- Enhance decision-making, raise compliance, and minimize emissions from operations to improve customer happiness, cut TCO, increase agility, lower business and technology risk, and lower business and technology risk.
To sum up, RISE with SAP can accelerate the pace of digital transformation and your transition to green energy, optimize the environmental impact, increase asset utilization, reduce waste, build sustainable products, and increase compliance.
Own your tomorrow with a guided journey and outcome-driven practices of RISE with SAP, to know more about the industry-specific solution, do get in touch with us!
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