Legislation aimed at the environmental performance of utilities means significant regulatory challenges which are transforming the industry.
Utility companies are in many cases struggling to keep up with the extent of the changes and such regulation is only set to increase as public focus moves more towards companies of all industries achieving environmental harmony. In addition to greater regulation, utilities are also faced with the challenges of changing consumer demand, increased competition, higher operational costs and the need to demonstrate sustainable business practices to consumers.
In the utilities space customers have more choice than ever when it comes to their service providers. In order to remain competitive companies must now strive to achieve a more customer centric service while meeting the needs of financial stakeholders who seek greater profitability. Such a diverse mix of challenges requires a coherent strategy that leverages the most relevant industry technologies across the breadth and depth of a utility’s operations. Exagenica brings deep industry knowledge and innovative technological capabilities to our clients helping them to overcome key industry challenges and improve their performance as utility service providers.
Retain Customers, Increase Market Share
Intense competition between utility service providers, in a privatised marketplace where changing provider has never been so easy means that customers today now have much more choice and as a consequence, are always right. Differentiating yourself as a utility provider can be difficult given the products involved with customers generally making decisions based firstly on cost and secondly on customer service. It is imperative that each and every aspect of a customers needs be met satisfactorily and at each interaction point from the bills they receive to the way that meters are read. While meters being read may appear an operational point, because many utilities still depend on customers to report meter readings it also becomes an issue of customer service. In the utilities market customers seek convenience and it is for this reason that providing a seamless customer experience is integral to maximising customer loyalty and retention. Positive customer experiences, in an increasingly connected world where word of mouth in the utility industry is extremely influential, also stimulate customers currently with competitors to change providers allowing you to increase your market share. Exagenica’s suite of technology services and solutions for utilities provides companies with the necessary platform on which to surpass expectations and build rich customer experiences at every touch point.
Utility companies worldwide are under significant pressure to provide services like energy and water in ways that don’t undermine environmental quality and contribute further to things like climate change. Such pressure is forcing today’s utilities to re-examine every aspect of operations in order to meet the requirements of greater regulation and make positive steps towards addressing environmental impact. Traditionally utilities have been solid and secure providers of essential services which consequently has resulted in large and static structures that do not easily allow for innovation. However utility companies must now adhere to regulation and set about a significant evolution in their operations by looking inwards and upwards. Exagenica is a leader in bringing about transformational changes through technology and is helping utilities of all types to evolve their organisations and become more sustainable entities.