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Considered slow adopters of new technologies and business practices, the utilities industry is on the precipice of change; a change triggered not only by the rise of cloud computing, big data analytics, internet of things, IT/OT convergence but also due to solution providers leveraging these technologies to provide bespoke, end-to-end, yet economical solutions. Looking at the market trend it is clear that both the public and private utilities companies are focusing on digital transformation—the new business imperative— to better cater to a tech-savvy customer base that demands timely and reliable services.
When it comes to technological offerings, the utilization of distributed energy resource is facilitating the transition to smarter grids. Moreover, the adoption of next-generation smart meters allows for greater utility management for both the provider and the customer. Meanwhile, there is a growing trend of connected pipelines and connected refineries, allowing for better management of resources and assets with mobility applications over a wireless network. On the other hand, some of the solution providers are delivering social media and analytics platforms aiding companies to understand customer behavior, improve asset management, and gain valuable business insights. Central to this digital transformation is the adoption of new business practices and implementation of digital strategies. Utility companies will need to move beyond the commodity-based model, where the primary goal was cost-effective supply acquisition, to a service-oriented business model.
This edition of CIO Applications brings you the "Top 25 Utilities Tech Solution Providers 2017". This list gives you some of the most prominent organizations in the industry that provide sustainable solutions enabling utilities to enhance performance and environmental efficiency. The proposed list envisions assisting companies to gain from the services of the right utilities technology partner who suits their specific requirements and helps to scale across markets.
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