Energy and Utilities
Significant political, economic and market pressures pose substantial physical, operational and technology challenges for the manufacturing and engineering sector
Across the energy and utility sector significant political, economic and market pressures, including supply distribution and access issues, efforts to decarbonize energy generation, commodity cost volatility, the digital revolution and SMART metering pose significant physical, operational and technology challenges.
Coeus has worked with the IT departments of companies across the sector and understands what it takes to turn these challenges into opportunities.
Oil & Gas
The current price volatility and increased competition require oil and gas companies to gain maximum Return on Investment (ROI) out of every deployed asset. Coeus understands IT needs to provide technologies such as in-memory computing, analytics software, mobile solutions, and the cloud to support exploration and production, while at the same time securing the organisation from what our now daily cyber security threats.
Oil and gas companies need to ensure the safety of their employees, minimise environmental impact and ensure investment security. One of the key ways IT can support these objectives is to capture real-time, accurate performance data from within the field and deliver it to the right person within the organisation. This requires an agile IT environment, which takes advantage of vast volumes of data and analytics to support business operations.
Increased competition, pressure from regulators and rapidly changing consumer behaviours are driving significant change within the Utility sector. Smart metering and digital thermostats, for example, Nest and Hive, are giving consumers far greater control over the amount and timing of the energy they use. Smart energy will allow well placed organisations to take advantage of the huge amounts of consumer data and customer insight but the daily cyber security threats need to be controlled to ensure customer safety.
The proliferation of mobile devices and rate of digital adoption by consumers means Utility companies can no longer offer just call centre facilities. Utility companies now need to provide an omni-channel experience similar to those being offered to consumers by other sectors, which means significant legacy system integration and process change is required as back end processing needs to interface into the new digital front end.
As I write, the Bank of England is currently trailing a possible half of one percent interest rate rise later this month. Indeed, outgoing member Michael Saunders warned in a speech to the Resolution Foundation only last week that rates may in 2023 surpass two percent as the Bank of England acts to.
At Coeus we understand that embedding any type of transformational IT change is not instantaneous, but takes time to evolve as a programme or project moves from initiation through to implementation and benefits realisation. Technological changes will always have an impact on people, not to mention.