Cloud Enables Utilities to Respond to Business Challenges
- Sep 13, 2021 9:34 am GMT
Energy companies are rapidly migrating their legacy technology systems and applications to the cloud. In the next five years, more than two-thirds of workloads will shift to the cloud, with about a third of utilities having more than 75% of their applications into the cloud, according to Accenture. Lower cost, less maintenance, scalability, and more efficient ways to operate are driving the change.
The pandemic forced many utilities to compress their digital transformation times and accelerate their migration of their workloads to the cloud by months and even years. They made the change for many reasons.
The Cloud Delivers Many Benefits
The cloud offers energy companies lower costs. Nearly 65% of companies saw up to 10% cost savings from their cloud migrations, according to Accenture.
Developers spend much of their time on mundane issues, such as entering common data in multiple applications. With cloud, they automate such processes and reduce their maintenance requirements.
Scalability is another cloud attribute. It provides utilities with the ability to add capacity with a few quick keystrokes rather than a long data entry process.
Perhaps, the most important reason is cloud creates new growth opportunities by transforming how they interact with customers, partners and employees. Energy companies can reduce friction and improve the way they create, deliver, and market their services.
Spurred by changes required by the pandemic, utilities are moving to cloud computing in growing numbers. Soon, it will become the foundation for most of their business applications.
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