There is an enormous amount of innovation and investment in the Energy & Natural Resources sector, especially when considering the current economic and energy climate. This means Energy sector leaders will need to compete by choosing their focus areas to optimise or grow and stick at them for 2023.
We believe the key focus areas that energy leaders should be looking at when it comes to technology are: digitising operations, digital talent, investing in digital, transforming tech for the customer and successfully transforming at pace.
Digitising operations:
Energy organisations are accelerating the adoption of digital technologies. This sets a standard for all competing organisations, which means setting a focus on holistically transforming how you operate into a fully digital way. These may include the standardised use of smart meters from a customer angle, or a more advanced, streamlined approach to measuring energy usage internally.
Digital talent:
The talent shortage is not only affecting businesses in Energy, it’s the number one issue faced by all UK organisations today, with 48 percent of industrial organisations saying they are affected by these shortages.
Organisations, therefore, need to position themselves as a compelling place to work, which involves clear communications on the benefits that can be made available to them, such as reliable opportunities for development and flexible working patterns.
Investing in digital:
99 percent of executives we surveyed have generated returns from digital investments. These investments in digital transformation for Energy and Natural Resources organisations can improve transparency of products and the supply chain, increase visibility of their carbon footprint and identify ways to improve working conditions and social benefits.
Investing in digital is a large project, so make sure to focus on your weakest areas first and build up from there.
Transforming tech for the customer:
Customer experience is becoming a primary lever that unlocks budget for digital transformation.
Delivering services that meet or exceed the customer expectations is necessary to support future marker and sector growth
Transforming at pace:
Digitally mature organisations adopt a culture of wise experimentation, supporting greater innovation. Make sure to focus on these approaches this year, to speed along your digital transformation and become a stronger competitor in the sector.
Get in touch: KPMG’s capability in the Energy and Natural Resources space is vast and we can leverage our strong technology capabilities and alliances to address the challenges faced by this sector. Get in touch with us if you have any questions or concerns.
