Servitization and the demand for digital transformation in the energy industry

IFS survey highlights the drivers, barriers and benefits   

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IFS surveyed over 600 energy organizations in Europe, North America, and Middle East about their digital transformation journey and drivers/ inhibitors for adoption of enterprise software to tackle industry challenges. Sustainable energy, new business models, asset management strategy, customer experience strategy, resource optimization and field service management emerged as key focus areas for energy organizations.

Some highlights of the survey findings include:

  • 31% of oil, gas and utility organizations worldwide cite tighter integration and collaboration across functions among the top two drivers for the adoption of enterprise software systems.
  • 79% of organizations say it is important for enterprise software to have the embedded capability to set and measure critical KPIs.
  • 44% of organizations with sustainability goals want to invest in more energy-efficient assets and infrastructure to meet those objectives.
  • 74% of respondents say it is important an advanced asset management solution gives them improved maintenance, moving from scheduled to predictive asset maintenance.
  • 57% of oil, gas and utility companies that have digital transformation projects are looking for a composable platform to support the entire journey.

Read on for the research results and more information on digitally transforming your energy organization to achieve better operational efficiency.

Survey Results: Digital Transformation in the Energy Sector

We asked over 600 energy organizations, in Europe and North America, Middle East about digital transformation journey and drivers/ inhibitors for adoption of enterprise software to tackle industry challenges. Download the executive summary for more insights.

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What does servitization and demand for digital transformation mean for the energy sector? 

Energy and utility companies must shift to a model of servitization, underpinned by digital transformation initiatives, where insight and quality of service sustain longer and more profitable commercial relationships.

What’s driving the demand for digital transformation in the energy sector? 

Energy and Utility companies must transform their own processes and leverage the insights from enterprise software to power new and enhanced services in an involving industry landscape. Download this infographic to explore the key drivers, trends, inhibitors and emerging technologies that will play a part in digital transformation journey of energy and utility companies. 

Optimize data insights from assets in the energy sector

Assets, processes & technology in Energy sector have evolved over the last decade. With asset data collected, Asset & Maintenance Managers can make intelligent decisions to change the maintenance frequency, service the assets, or replace where required. Cloud technology enables data driven decision making to be managed within a single product, reducing integration across the IT architecture.

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