Increasing competition and digital transformation are currently the main concerns of the energy industry. This was the finding of a study conducted for us by the market research institute CENSUSWIDE in September 2020. According to the BDEW (German Association of Energy and Water Industries), digital transformation is "an integral part of the energy transition." How else could "efficient, fast and automated processes" be implemented across the board? The industry is under immense pressure to innovate, because generators, network operators and consumers must be networked in a decentralized manner to create the conditions for a sustainable power supply.
This need for sustainable power supply becomes clear, for example, in the entire metering system: Energy suppliers in Germany, Austria and Switzerland are required by law to introduce smart metering. This means that metering point operators are being added as new market participants. As a result, the billing process is becoming more complex, which could delay invoicing. This has an equal impact on customer relationships and working capital. Around 63 percent of the 300 decision-makers see this issue as the greatest challenge in relation to the metering process and network billing. However, the introduction of smart metering also offers a unique opportunity to fundamentally improve the meter-to-cash process. For example, digitization opens up the possibility of identifying inefficiencies and obstacles. With our market-leading process mining technology, we enable companies in the energy industry to maximize their performance in this area.
In the maintenance of production facilities and networks, almost half of the utilities surveyed cite a lack of transparency and high complexity as key challenges (47.67%). In incident management, maintenance or predictive maintenance, data is the key to smooth, resource-saving and cost-efficient processes. For example, if an incident is reported, it can be remedied quickly if the availability of the required capacities (material, employees, etc.) can be tracked at any time and retrieved at short notice via a central tool. In this way, redundant notifications are avoided and tickets are processed continuously until they can finally be closed.
When utilities close the execution gaps of fragmented IT systems, execution capacity grows. Recognizing that every enterprise has Execution Capacity takes us one step beyond process mining. Execution Capacity is the performance that an enterprise can deliver in the available time and with the available resources. Increasing it has a direct impact on the company's success. Key performance indicators along the entire value chain can be optimized in this way.
With our Execution Management System (EMS), companies fully exploit and maximize execution capacity. It is capable of freeing all departments and the entire company from the constraints of complex IT landscapes. Only then can digitization succeed. Although four-fifths of the participating companies have already developed a corresponding strategy, the majority are at a very early stage. The majority have recognized the importance of process mining: They are setting out to examine and monitor their business processes as part of a holistic approach in order to uncover optimization potential in all areas.
More than 60 percent of respondents say that the COVID 19 crisis has changed the emphasis on process optimization and automation in the company. They create the necessary adaptability and flexibility to operate in a crisis-proof and future-proof manner. The energy industry has had to absorb not only falling and fluctuating consumption, but a complete change in user behavior: Homeschooling instead of face-to-face classes, home office instead of office day. As a result, the digital transformation took place at an unprecedented speed. Only through process mining and big data analytics does the necessary transparency emerge to recognize existing resources and allocate them as required by unforeseen situations. It's not just about optimizing processes, but maximizing the overall execution capacity of the business. Download the industry survey with all survey results now!