‘Reimagining’ is about achieving a mix of efficiency gains, business process improvements and new capabilities, Sudheer Warrier, VP and Global Head Utilities at Tata Consultancy Services told Engerati in an interview at European Utility Week 2014.
Drivers for reimagination
Warrier says that there are four factors driving the need for reimagination of utilities. These are the consumerisation of technologies, regulatory issues, and the blurring of lines between industries, with the fourth, new digital technologies, acting as a catalyst.
These are disruptions to the utility business model, Warrier says. “Who owns the customer and where does the utility come into play?” he asks, also questioning the word ‘utility’ and its meaning.
Framework for reimagination
Warrier says that TCS’ framework applicable to all industries covers various aspects, including the business model, business processes, products and services, customer segments and channels. If what the company is doing affects one or more of these, it is reimagining.
As an example, he cites changing business models, in which technology providers are becoming partners rather than competitors to utilities.
Reimagining the utility
Warrier cautions that reimagination should be considered as an end-to-end process. In a customer-centric world, changes at any point in the value chain should bring benefits to customers.
“The things you [as a utility] do should make you perform better, but should also make others in your ecosystem perform better.”