Energy Sector Consulting
It is not only the energy transition and the growing call for green energy concepts that call for continuous development of the energy industry. There are also regulatory requirements, digitalization and changing customer demands. If companies in the energy industry want to meet these demands, innovative new business models must be thought through to ensure profitability and growth opportunities.
WAVESTONE supports energy suppliers and network operators in the further development and adaptation with strategic consulting on business processes up to the implementation of innovative technologies.
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In addition to the energy transition, digitization in particular is changing the foundations and framework conditions of the energy industry value chain – this dynamic environment promotes new competition, creates transparent offerings, and changes the role of the customer, for example, to that of a market player. Sustainable corporate success requires not only the adaptation of existing products and services, but above all a clear strategy and a high level of innovative strength to exploit the opportunities associated with the digital transformation: the further development of the portfolio into a digital product and service world as well as new digital and in some cases cross-sector business approaches, for example in the area of mobility/electromobility or smart city.
To successfully meet the challenges, working methods, processes and mindset must adapt – for the energy industry, these are particular hurdles. The requirements of a regulated market, characterized by security and stability, are contrasted in the non-regulated market by a high demand for innovative strength and flexibility. Agile working methods, customer centricity, future-oriented competence management promote this need, but also require a sustainable change strategy. Companies and organizations are verticalizing and repositioning themselves in order to better leverage the potential of their employees and distribute responsibility in a meaningful way. However, as with digitization, it is not the technology or the quality of the concepts that are ultimately the greatest challenges, but the people who are affected by the change.
Future-proof IT is one of the key aspects in coping with the major process of change in the energy industry – not least because the requirements for a future smart energy network (smart grid) are becoming increasingly complex and the interface to the customer is taking on a significant role. Innovative IT solutions create the necessary transparency, end-to-end process reliability and enable a positive user experience. Modern IT systems use the potential of the Internet of Things, automation, data analytics or blockchain to increase efficiency, establish new business models and thus secure competitive advantages. We bring in cross-industry impulses and accompany our customers in the digital transformation along the energy industry value chain.
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