Focus on areas of highest impact in technology upgrades Digital technology transformation has become a must for organizations in the energy industry because it provides a long list of opportunities that can provide better value to customers, higher margins and ultimately improved returns to shareholders. Meanwhile, energy companies are finding that many of their competitors also are pursuing technology-enabled changes that enhance their effectiveness and efficiency. In Grant Thornton’s experience working with energy organizations, a substantial majority have started their digital transformation, and many others say they plan to start soon. The remainder are in danger of being left behind by competitors with superior capabilities. One of the main problems that digital transformation can help solve for energy companies is the fragmentation of their systems. During the enterprise resource planning (ERP) boom of the 1990s, many energy companies made significant improvements through implementations that centralized systems of record, supported business processes and delivered some automation. But for many of those systems, it’s difficult to gain access to the right data, and the reporting tools are lacking. The systems impede the organization almost as much as they enable it. For many energy companies, their current state is dealing with “technology […]
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