Harnessing the power of cloud for accelerated digital transformation in Utilities sector
As an industry that enjoyed monopoly status for decades, the utilities industry for the first time ever lags behind other industries when it comes to digital transformation.
Often, utilities’ own infrastructure, systems, and processes impede them from harnessing the power of the cloud. As enterprises are investing in cloud-based technologies to deliver personalized experiences, the utilities industry is also under tremendous pressure to advance its digital maturity and address changing customer expectations. The utilities industry is now in the midst of a rapid change with a surge in demand for advanced technologies, smart grids, smart utilities, and energy-efficient solutions. In such a scenario, embracing cloud-based platform and solutions are imperative for them to change their business model and increase the agility of their operations.
Digital transformation is no longer a choice and utilities firms need to embrace agility while ensuring high efficiency. Evolving to a more digitalized, decarbonized, and decentralized system is the topmost priority for the utilities industry alongside improving profitability and enhancing customer satisfaction. Many utilities companies are accelerating their digital endeavors with incremental investment in cloud technologies. Cloud computing can help the utilities industry gain a competitive advantage and significantly improve their bottom line in numerous ways. These include:
FinOps is used to minimize costs and maximize ROI across every stage of cloud migration (Assessment, discovery, migration, and management). Utilities are always looking for ways to cut costs, and switching to a hybrid cloud can help do just that. With the cloud, utilities can reduce Capital Expenditures (CAPEX) and control the Operational Expenditure (OPEX) significantly with a pay-as-you-go model. The cost savings from this model can be reinvested to further the utilities’ ESG charter.
2. Improved scalability, flexibility, and reliability
Utilities need solutions that can dynamically scale workloads as energy consumption patterns change. Legacy in-house IT infrastructure not only requires regular maintenance but also offers less scalability. Cloud platforms enable utilities to easily provision or remove new resources as needed. With the preferred cloud service provider, flexible pricing plan, and a right-fit deployment model (public, private, hybrid, multi-cloud) utilities can start their journey to the cloud.
3. Improved security and compliance
As the utilities infrastructure is highly complex and distributed, it requires proactive protection measures to deter cyber-attacks. Cloud platform providers provide state-of-the-art security and compliance features that protect user data from cyber-attacks.
With cloud, Utilities can empower users to manage assets remotely from any location with internet access instead of being in the vicinity of office premises or facilities. Cloud can aid autonomous agents, AR/MR for field service agents, and many more business use cases enabling seamless communication with multiple teams and real-time access to data.
5. Real-time data analytics
Customer expectations are increasing from time to time and it is becoming necessary for enterprises to invest in analytics for better decision-making and offer a better customer experience. Big-data analytics requires high-performance computing, a feature that cannot be realized on legacy IT infrastructure. Cloud accelerates utilities’ ability to make critical data-driven decisions that can potentially improve asset performance, and distribute resources based on demand patterns.
6. Backup and DR capabilities
For the utilities sector, maintaining reliable operations is crucial to ensure uninterrupted services to the public. A robust backup and disaster recovery (DR) mechanism must be in place. Utilities can leverage cloud service providers for built-in backup and disaster recovery services simplifying IT overhead costs.
7. Enhanced user experience
A positive UX improves customer engagement which consequently influences the bottom line. Cloud helps utilities enhance user experience with easy access to customer data and rapidly deploy new services based on their consumption patterns.
8. Environmental benefits
Ambitious net zero targets set by governments is seeing an alignment of business cost with ecological cost. The utilities sector in particular is under more pressure to address its environmental impact through smarter and greener technology solutions. Utilities can achieve net zero by gradually reducing their energy consumption and carbon footprint with hybrid cloud adoption.
Microland Secure & Compliant Cloud for Utilities
Microland’s Secure & Compliant Cloud offering is purpose-built for utilities with AIOps-driven Cloud management, with built-in security and compliance controls, to ensure seamless and secure operations as utilities embark on their digital transformation journey. The offerings include:
- Assess, adapt, and transform: Our Microsoft & AWS-aligned cloud adoption frameworks, including Cloud Assessment and Intelligeni Transform, provide rapid assessment and migration of utilities’ workloads for a seamless cloud transformation.
- NextGen cloud management platforms and framework for public & private cloud operations with automation & analytics, delivered via Infrastructure as code templates, reference architectures pre-built for 30+ utilities apps, and DevSecOps powered by ready automation scripts.
- Compliant operations adhering to global standards as well as geo-specific regulations (UK regulations such as Network & Information Systems Regulations, National Cyber Security Centre, OFGEM, and OFWAT) with real-time compliance posture analytics to protect Critical National Infrastructure.
- Robust service architecture built with a platform-driven approach that leverages hyper-automation platforms, best-of-the-breed cloud tools, and frameworks tailored for utilities, to accelerate business outcomes for our clients.
Disruption is a growing challenge for the utilities industry and reluctance to change can negatively impact the top line and bottom line. Utilities need enormous computing power as more data starts to flow in from smart meters and smart grids. Utilities management has also become complex with a rise in distributed generation resources and flexible demand.
To address all of these challenges, cloud adoption is imperative for the players in the utilities market as it will improve business efficiency, increase agility, reduce cost, and enhance their ability to respond to market changes faster, everything culminating in a superior customer experience. Moving to a hybrid cloud model also helps utilities adhere to industry and geography-specific regulatory compliance. Most importantly hybrid cloud accelerates utilities’ ESG goal of reducing carbon footprint and committing to net zero.
Jan 22, 2024
Jan 17, 2024