Prospecta

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Energy and Utilities

Energy and Utilities

Energy and utilities sector is transforming itself to support the aspiration towards a more renewable and sustainable energy future. The trends are already visible in the form of smarter grids, greener and cleaner sources of energy, self-generating communities, and electric vehicles. This is where they need to harness data to gain valuable insights that drive their decision-making and future-proof their business roadmap.

Challenges

  • Not easy to acquire data, with long lead time for data creation and mass data changes
  • Handling project-related master data, e.g., asset capitalisation and related issues
  • Handling consumer data in the retail segment, e.g., privacy and data security

Spare Parts Data Management to reduce inventory costs

  • Handling asset data, e.g., GIS information, data collection from the field, serialized assets
  • Outdated or incorrect characteristics, hence the need to incorporate industry standards
  • Data integrity issues—no validation mechanism across different datasets
  • No governance around supplier integrity and procurement, hence increasing risk, compliance, and sustainability issues

Master Data Domains

Primary

  • Spares
  • Suppliers
  • Finance
  • Project-related (WBS)
  • Assets

Others

  • Customer (Retail)
  • Other Finance areas

How can MDO help

  • Streamline master data request processes incorporating rules and SLAs, making use of online, mobile, and mass templates
  • Audit trails and logs for all requests and changes
  • Continuous data monitoring to guarantee quality and integrity
  • Enhance supplier collaboration on critical data elements
  • Spare Parts Standards following our pre-defined taxonomy for Utilities
  • One-stop platform for Master Data Management to achieve an integrated view of data

Benefits and business case

  • Data quality and governance become part of a larger transformation project, e.g., Migration or Mergers/Acquisition
  • Master Data Management initiative to automate manual/semi-manual process and reduce headcount cost
  • Industry compliance and standards for better collaboration
  • Enhanced supplier collaboration
  • Improvement in catalogued purchasing and reduction of free-text spend

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