Information Services Group (ISG) a leading global technology research and advisory firm, has launched research studies examining providers of services and software platforms to the global power and utilities industry, which is adopting new technologies in response to rising demand for renewable energy and other widespread changes in its business environment and operations.
“New technology is essential for the power and utility industry to adapt to the unprecedented changes taking place today”
The study results on power and utilities services will be published in a comprehensive ISG Provider Lens report, called Power and Utilities Industry — Services and Solutions 2023, scheduled to be released in June. The report will cover companies offering services for business process management, grid modernization, asset management and customer experience. At the same time, ISG Provider Lens will publish the Power and Utilities Industry — Software and Platforms 2023 report, covering providers of enterprise asset management software.
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Enterprise buyers will be able to use information from the reports to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
Power and utility companies face growing pressures to improve resiliency and reliability, comply with new regulations, change their mix of energy sources and respond to geopolitical disruptions. Demand for renewable energy is soaring, while the growing prevalence of extreme weather events is challenging utilities’ ability to reliably deliver services. Increasingly, the industry is turning to providers of services and software for help in adapting to new requirements, improving customer experience and developing new business models. Efficiency, security, innovation and asset management are among the industry’s growing needs.
“New technology is essential for the power and utility industry to adapt to the unprecedented changes taking place today,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Leading software and services providers empower clients to strengthen their capabilities with a minimum of technical debt.”
For the Power and Utilities Industry — Services and Solutions study, ISG has distributed surveys to approximately 100 power and utilities service providers. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and solutions the typical energy and utilities enterprise is buying, based on ISG’s experience working with its clients. The five quadrants are:
- Intelligent Business Process Management Services (iBPMS), evaluating providers of BPM services that use automation and analytics to improve management of business processes, including customer service, sourcing and procurement, human resources, finance and accounting and regulatory compliance.
- Next-Gen IT Services, assessing companies that provide IT managed services, including application development and maintenance (ADM), infrastructure and cybersecurity services and systems integration, to the power and utilities industry.
- Grid Modernization, covering providers of services, including grid modeling, distributed energy resources management systems (DERMS), geographic information systems (GIS) and supervisory control and data acquisition (SCADA), that help utilities make grids more resilient and responsive to demand.
- Enterprise Asset Management (EAM), evaluating providers of services and solutions that allow power and utility companies to increase asset performance and life, including asset lifecycle management, remote monitoring, and application maintenance and support.
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- Customer Information Systems (CIS) and Customer Experience (CX), assessing companies offering meter-to-cash (M2C), customer service and business process solutions for power and utility CIS platforms, encompassing account management, order processing, b******, rate design and other functions.
For the Power and Utilities Industry — Software and Platforms study, ISG has distributed surveys to more than 30 power and utilities platform providers. The quadrant to be covered is:
- Enterprise Asset Management (EAM) Software Solutions, evaluating providers of EAM software that enables power and utility companies to manage and maintain assets throughout the lifecycle, from capital planning and procurement through disposal.
The power and utilities services report will examine products and services available in North America, Europe and Australia. The software and platforms report will examine platforms for the global market. ISG analysts Swadhin Pradhan, Mohd. Aves Malik, Harish B and Sandhya Navage will serve as authors of both reports.
A list of identified providers and vendors and further details on the power and utilities services study is available in this digital brochure; details on the software and platforms report can be found in this brochure. Companies not listed in either brochure can contact ISG and ask to be included in the study.
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