The utilities industry is currently in a state of restructuring. Continued de-regulation, the push for greener renewable sources, and the constant need for investment are big factors posing a significant threat and an opportunity for utilities organizations. The increasing demand for energy creates a unique and challenging environment for utility companies to operate profitably. Continuous pressure is being placed on companies to ensure an adequate and efficient supply of energy services at a low cost–all while lessening if not eliminating the environmental impacts of production.
While these are the macro challenges that companies, vendors, regulatory boards cope with, utility companies also experience day-to-day challenges during the operations, maintenance and management of an energy utility. Companies struggle with revenue planning, various reporting requirements, frequent forecasting, accurate resource planning and simply measuring and analyzing the financial status of the business.
The Prophix suite of performance management solutions enables utility companies to improve performance and make the business profitable. To ensure better use of assets and resources in a time when the industry is being challenged by aging physical assets and workers, companies need to invest in technology to enable improvement. Business processes such as planning, budgeting, forecasting, reporting and consolidation need to be integrated rather than constantly separated to eliminate operational inefficiencies.
Utility organizations use Prophix Performance Management software and services to: