Retail Utilities
Leverage IT for data management to develop customer insight and power growth
The Utilities sector is experiencing relentless transformation. Power, gas and water are becoming scarcer but demand continues to rise. Regulatory and consumer pressure over environmental and sustainability concerns are creating fresh challenges. As a consequence there is a need to drive change in consumption through Demand Side Management, focus on efficiency measures and improve customer engagement and communication. In addition, the concerns over acquiring new customers and retaining existing ones, accurate billing, creating new products and innovative pricing models have intensified.
As markets get deregulated and customers have a wider choice, Utilities need to focus on four key areas to deliver continued growth. The backbone to support this growth is going to be effective data management:
Create better products to cater to the changing demands and lifestyles of customers: Goods and services businesses conduct extensive market studies to understand customer needs. By contrast Utilities have very little customer contact to capture needs and create products aligned with changing usage. However, highly granular data on customer location, usage and payment patterns can drive analytics for new product development and better usage programs, adding to revenue growth, addressing customer concerns, etc.
Deliver better product pricing: A customer's or a community's usage pattern can help deliver bundling (or unbundling) of products, community pricing, time-of-day or time-of-year pricing, rebates and other innovative models. Using data analytics, Utilities can ensure customers have more choice to suit their needs thereby creating higher levels of customer satisfaction.
Create better customer service while bringing down cost to serve: Use data analytics to understand customer usage behaviour, the modes of payment customers prefer, the channels for complaint management, etc.
Create better customer retention: Use data analytics to predict when and why a customer is about to switch, enabling faster and more accurate response to improve customer retention.
Today's industry leaders are become more competitive through acquisitions, superior customer insight and better products. Wipro assists them on their journey by leveraging IT for data management and analytics. Our focus on systems integration, creating consistent communications, better customer interaction across channels, efficient payment solutions and energy efficiency solutions have helped global leaders keep pace with the demands of transformation.
Retail Utilities - Capabilities, Solutions & Services
Blue Printing Template: Accelerate the blueprinting phase in Retail transformation initiatives leading to cost and time reductions.
Performance Optimization Framework: Framework to optimize system and process performance, identify system and process bottlenecks and improvement opportunities.
Business dashboards: Presents critical business metrics across the Retail landscape and enables timely monitoring of critical process and data metrics, measurement of business outcomes, identifies process bottlenecks and potential data quality issues.
Wipgrade - Oracle CC&B Upgrade framework: Repeatable and accelerated framework for Oracle CC & B upgrades providing standardized upgrade approach, database of industry standard validations and known errors and solutions.