In case you haven't heard, digital
transformation is a huge boon
for energy companies. The right
technologies can increase efficiency,
reduce costs, and ultimately deliver
more profits. Bloomberg New Energy
Finance (BNEF) reported that the
energy sector is predicted to invest
$64 billion in digitalization technology
by 2025. Several factors have driven
the industry to embrace digital
solutions, including changing business
models and emerging technologies
such as IoT.
Don't panic if you feel you might be
late to this game. 85% of respondents
in the BNEF report believe that
companies who've started their digital
transformation journeys later than
others still have a chance to beat their
competitors in the long run. So, it isn't
too late, but be mindful that seeing
measurable ROI can take about a year
(or longer), as the BNEF participants can
attest:
How long did it take to see
measurable business results of your
digital transformation?
IDC predicts this industry will have
invested $45 billion in 2019 alone
on intelligent and predictive grid-
management technology — and
that's just one of the transformational
initiatives they'll undertake.
Digital transformation is the way of
the future. Preparing for the inevitable
connected commerce experience will
help you meet (and exceed) customer
expectations as those expectations
continue to evolve in our digital-driven
world. But companies won't see the
benefits if they mishandle their digital
deployments or neglect to implement
cultural changes in tandem. Which begs
the question:
L E S S T H A N 6 M O N T H S | 1 4 %
6 TO 1 2 M O N T H S | 3 1 %
1 TO 3 Y E A R S | 5 4 %
M O R E T H A N 3 Y E A R S | 1 %
2.
