While COVID-19 has created reverberations across the globe, it reinforced the importance of technology for organizations to stay resilient. The utilities industry, in particular, witnessed demand-side fluctuations both in the commercial and consumer sectors, with the pandemic changing the ways we work and live. New regulations that have risen in the wake of economic uncertainties have also magnified the challenges faced by the industry. In this blog, we will see how digital tools can reinstate and stabilize utilities operations.
For utility companies, the pandemic has only complicated existing challenges, such as energy transition and constantly evolving regulations. Now, with a limited workforce and backlogs of unprocessed invoices, purchase orders, and work orders, there is an increase in the mean time for service restoration and accounts receivable cycles. At this juncture, it is critical for utility companies to wisely utilize their distributed workforce only where it is required and at the same time, ensure their safety.
Amid this overall crisis, robotic process automation (RPA) has emerged as an extended arm for utilities to improve cashflow and counter the pandemic-induced workforce issues. While RPA’s driving principle is to reduce manual work, given the current situation, this technology can help utilities: