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With the average company investment into digital transformation increasing 148% in 2020 your competitors are racing to disrupt your business. Can you afford to be left behind?
It’s a hot topic, right now - and it’s set to be the same story far into the future: the energy industry is currently facing its fair share of disruption. Whether it's the instability of the industry given the volatility of its prices day-in, day-out, or the insecure future thanks to the drive for a greener world thanks to a focus on renewable energy and energy efficiency, this sector is not set for plain sailing.
With a wide range of services on offer ranging from reinvigorated operating models, to the marketing efforts set to personalise the technological transformation, the digitalisation up ahead will require a complete overhaul. And the disruption confronted by this industry means that your business needs to stay competitive.
Our energy consultants know how to do just that.
How can you be sure if your business needs a digital transformation? The disruption currently shaking nergy companies to their core - and forecasted to continue for the unforeseeable future - is a clear signpost for businesses operating in it.
The most common way to overcome this is joining the tide of green energy sector currently surging, but finding one’s way around price volatility is also key to surviving the disruption.
Fundamental to surviving this insecurity is reinventing the business model as a part of your digital project. Going upstream is the future, as is reducing the value chain’s carbon footprint to remain relevant to your consumers. This taps into the need to deduce outlets for survival via sales and marketing.
That being said, digitalising this industry is a two-pronged approach that is a necessity for businesses.
Innovation cannot stretch only as far as one’s marketing.
Fact is, if you want your business to stay relevant, you need to tap into the influence of recent innovations in the industry - and then go beyond them. As with all industries, it's not about clicking “update” and getting back to the 9-to-5.
This is a constant process.
With the use of technology to deduce your customers’ exact desires from future products, new entries into the industry such as Liquefied Natural Gas as set to lead by example. In specific terms, intelligent operations, commercial model optimisation, supply monitoring, and value chain optimisation are the key pieces of technology your business needs to log into to stay competitive amongst the disruption in both utilities and power generation.
And we can help you do that.
Director of Technology, Simply Brands
The future of the oil and gas industry is unknown. Even with new competitors entering the industry, deducing the exact path to follow that promises both security and success is impossible.
By plugging into the latest tech aligned with your business, you can finally have insight into your customers’ expectations for products and personalisation, and you can even deduce what your business needs to stay streamlined. But the innovation doesn’t just extend to green energy sources - it extends to how you brand these new energy sources as a part of your competitive edge. By tapping into the demand for consumer-centric services and evaluating the future of energy value chains, our green energy consulting can reframe your future.
That, or it might not survive far into it.
For those with an ear to the ground, this process is also known as a Digital Transformation. A Digital Transformation rethinks how you manage your employees, your clients’ and business’ data, and how you carry out your business operations. Or, in simple terms, a DT is the technological revamp your business needs to stay competitive.
Specifically, the technology your business needs to grasp includes automative technologies, analytics, blockchain, and cyber-security to monitor the movements of the data-driven insights your business needs to rely on. Taking things technological doesn’t simply extend to producing energy, anymore. From your senior managing director to your interns, the latest technology needs to be diffused across the entire supply chain.
MARKET YOUR WAY TO SUCCESS
Innovation isn’t just for the products and services - rethink your customer’s experience via personalisation to tap into the consumer loyalty they can’t find on the shelves.
AUTOMATE TO IMPROVE EFFICIENCY
Alongside Artificial Intelligence, Robotic Process Automation is the forefront of this industry’s future. By replacing repetitive, laborious tasks, attention can be directed towards the customer.
FUTURE PROOF VIA CYBER-SECURITY
Data-driven insights might be central to ensuring future survival and success in this industry, but protecting these insights are just as fundamental to keeping competitive.
UTILISE ANALYTICS FOR ACCURACY
Similar to the digital transformations undergone by other industries, energy’s turn towards a consumer-centric model of operations is fuelled by analytics that pinpoint demand with accuracy.
ACHIEVE DIGITAL MATURITY
Utilise the power of personalisation via marketing channels that tap into your customer’s entire buying journey. With new customer platforms available, reach your clientele on a whole new level.
INNOVATE BEYOND THE PRODUCTS
Nifty marketing isn’t the only outlet for drawing in customers. Tackle the challenge of new fuels and power sources which requires the data-driven insights and connectivity with the industry around you.
BRING IN BLOCKCHAIN
Harness the power of blockchain to manage your supply chains, respond to regulation changes, and simplify complex business processes.
REFINE YOUR OPERATIONS
Keep one eye on efficiency and another on safety with technology dedicated to managing your operations. Predictive and real-time analytics can help you identify areas of low efficiency and high risk.
STAY CONNECTED OUTSIDE OF SOCIAL MEDIA
How you touch base is changing, too. Redefine the supply chain with connected sites and operations, streamlining the business and elevating your efficiency.
+ What is the energy sector?
The energy sector includes all industries and businesses that produce and sell energy. This includes companies that partake in fuel extraction, manufacturing, refining, and distribution as well as firms that operate in integrated power utility, such as renewable energy resources and coal.
+ Is the energy sector growing?
TThe energy sector is a diverse industry with a varying range of growth and decline in different areas. The coal industry, for example, is currently declining due to lower demand and shifting public opinion regarding climate change, but renewable energy on the other hand is in the midst of a favourable boom. This year they are predicted to become the preferred provider in electricity markets.
+ What is the future of the energy industry?
This sector is forecasted to follow the tide of renewable energy resources, such as solar and wind power. The scaling up of national use thanks to the Paris Agreement and the onset of grid modernisations projects will project a shift away from non-renewable energy. Decarbonisation by leading companies is also on the horizon.
+ What are the trends for the energy sector?
The trends that are reshaping the energy sector go beyond renewable energy and include flexible approaches to innovation at a system-level when renewable energy cannot provide power, energy storage solutions, and energy carrier solutions.
+ How is technology changing the energy sector?
Renewable energy resources are the most visible changes to the energy sector and have already gripped the industry. The next step, however, is learning to balance this new energy with the need for constant power.
Taking things technological might be set to shake this forward-thinking industry to its core, but with Lolly Co at every step of the way, weighing up the changes need be as simple as adding up a price change. In fact, with our tech-team assessing your business’ exact needs and walking you through each step, you don’t need a map, either! But, if you do fancy finding your way around tomorrow’s business technology, you can start here.
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