What does "digital transformation" mean for the energy industry?
The energy and mining sectors face a variety of challenges, all with the capability of disrupting standard business practices, and all happening in a very regulated and highly competitive market.
Mounting geopolitical pressures on energy supply chains are news headlines almost every day. Power Technology notes that “In the globalised energy landscape, natural gas pipelines and electricity interconnectors across borders provide the prospect of international cooperation – and tension.”
Increasing demands on production are creating new challenges in technology. According to PwC, energy companies should “double down on digitization. Now is the time to transform operations by leveraging advanced digital technology to drive efficiencies and to open up new opportunities.”
PwC also emphasizes the need to develop talent for this new area of technology: “As companies build their capabilities in software engineering and data science, for example, senior executives in talent management will need to figure out the right weighting of technical (engineers) versus technological (data scientists and software engineers) staff and how the sector can attract the latter.”
Companies can help mitigate these challenges with improvements in business processes, decision support, safety, and workforce management. Digital transformation can be a powerful ally in accomplishing a company’s goals.
Infor’s Energy team was created to help companies transition to the digital era. Industry-specific solutions allow companies to optimize their operations, reduce risk, and improve the bottom line.
Infor’s Energy portfolio of products includes:
- CloudSuite EAM—Best-in-class asset management software that helps maximize the availability of crucial equipment for generation, exploration, and distribution
- Talent Science—A patented, cloud-based Predictive Talent Analytics and pre-employment testing solution to help recruit and nurture key talent: engineers, geologists, and field personnel
- Infor Coleman—A powerful artificial intelligence robot built upon a foundation of industry-specific data that is used for reducing risk analysis, improving decision support, and identifying safety improvements
- Birst—A native cloud business intelligence (BI) and business analytics platform that helps organizations understand key trends in equipment failures, safety incident locations, and more, helping move them from reactive to predictive operations
- Enterprise Resource Planning—Modern ERP for financial management and optimization of supply chains
With Infor’s decades of experience in the energy sector and cutting-edge digital solutions, we can help companies improve their bottom line while meeting their regulatory requirements. Let’s move forward together.