Energy and Utilities
Energy and Utilities
Energy and utilities sector is transforming itself to support the aspiration towards a more renewable and sustainable energy future. The trends are already visible in the form of smarter grids, greener and cleaner sources of energy, self-generating communities, and electric vehicles. This is where they need to harness data to gain valuable insights that drive their decision-making and future-proof their business roadmap.
Challenges
- Not easy to acquire data, with long lead time for data creation and mass data changes
- Handling project-related master data, e.g., asset capitalisation and related issues
- Handling consumer data in the retail segment, e.g., privacy and data security
Spare Parts Data Management to reduce inventory costs
- Handling asset data, e.g., GIS information, data collection from the field, serialized assets
- Outdated or incorrect characteristics, hence the need to incorporate industry standards
- Data integrity issues—no validation mechanism across different datasets
- No governance around supplier integrity and procurement, hence increasing risk, compliance, and sustainability issues
Master Data Domains
Primary
- Spares
- Suppliers
- Finance
- Project-related (WBS)
- Assets
Others
- Customer (Retail)
- Other Finance areas
How can MDO help
- Streamline master data request processes incorporating rules and SLAs, making use of online, mobile, and mass templates
- Audit trails and logs for all requests and changes
- Continuous data monitoring to guarantee quality and integrity
- Enhance supplier collaboration on critical data elements
- Spare Parts Standards following our pre-defined taxonomy for Utilities
- One-stop platform for Master Data Management to achieve an integrated view of data
Benefits and business case
- Data quality and governance become part of a larger transformation project, e.g., Migration or Mergers/Acquisition
- Master Data Management initiative to automate manual/semi-manual process and reduce headcount cost
- Industry compliance and standards for better collaboration
- Enhanced supplier collaboration
- Improvement in catalogued purchasing and reduction of free-text spend
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