Latest Technology Trends in Utilities Industry

1. Latest Technology Trends in Utilities Industry 3 UTILITY INITIATIVES TO UPGRADE CUSTOMER SERVICES In recent years, utility companies have started prioritizing customer satisfaction by taking various initiatives. From standardizing their conventional business model to boosting their customer communication channels, utility companies gear up to take full advantage of emerging technologies and meet customer demands more efficiently. Some of such practical approaches considered by the utility companies are listed below. • Modernizing Internal Operations There are numerous tools and applications available in the present market to help utility professionals streamline their companies' internal processes. Communication tools with advanced features not only create a collaborative work environment but also let the professionals connect with customers and understand their demands. Communicative tools and applications for operations provide instant and straightforward ways to access real-time information about processes and allow professionals to take suggestions from industry experts in digital portals. • Introducing Self Service Platform With the help of technologies like cloud computing, AI, and automation, utility-billing services have become easier for both professionals and customers. Deploying tech-driven billing applications across the utility distribution

2. channels allows customers to access bill information in a detailed manner and easily make payments without third- party merchants. Another example of an advanced self-service facility is utility charging stations. Public power utilities are gaining massive popularity as the initiative allows customers to access energy for recharging their EV or other utility products instantly. • Installing Smart Meters Smart meters have already created lots of buzz over the past years. Smart meters help the utility energy distributors understand the energy usage pattern of the customer and let them develop strategies to increase their energy efficiencies. Smart meter plays a vital role in achieving customer satisfaction. By tracking the energy flow across the entire network, smart meters can help distributors detect energy theft and areas where the users can save energy and cut down costs. Apart from installing tools and applications across the distribution network, utility companies are also focusing on organizing awareness campaigns, either by collaborating with market-leading companies or simply by spreading information about utility benefits to their customers. Focusing on customer needs and future demands proves to be the most important and practical business approach for utility companies. HOW IT HELPS UTILITIES ENHANCE CUSTOMER SERVICES Owing to technological interventions, the quality of the relationship between a utility service provider and an end- user is getting better. Traditionally, there used to be a minimum amount of interaction between service providers and customers. Today, the frequency and the quality of interactions and engagement have improved manifold.

3. Customer awareness and demand for better control have driven some of these changes. The incentives that utility companies get have also been a factor in creating grounds for better customer services. The best way to achieve improved customer services for utility companies is by leveraging third-party solutions. Some ways in which technology-backed applications have improved customer services in utilities are listed in the article. • Platforms for Self-Service One way for utility companies to enhance customer experience is by providing self-service platforms. The explosion of mobile devices means that most users have access to web platforms. By creating portals and websites for self-service, utility companies can empower customers effectively. The customer portals should ideally be easy to navigate and allow users to pay bills and lodge complaints easily. Along with websites, companies can also design apps that users can install on their smartphones. • Systems for Effective Communication Conventionally, utility companies operated in silos. During times of repair and maintenance, workers had to work according to the instructions of superiors. Now technology enables better connectivity, and hence, customers can be directly linked to maintenance teams. With direct streams of communication, services become more reliable, and breakdowns are fixed faster. • Smart Meters and Billing Solutions Software solutions are helping utility companies transform the billing process for customers. The hassles associated with manual billing are now eliminated with the emergence of advanced billing solutions. Bills can now be generated and shared through digital mediums. Smart meters have also contributed to enhancing the experience of customers. Technology provides unlimited opportunities for utility companies to optimize customer engagement and improve customer services. Source : Utilities Tech Outlook Follow Us : Facebook | Linkedin | Twitter | Youtube