The energy sector is significantly influenced by the digital transformation. Not only are more and more new IT systems being implemented, but the consumers and processes that leave their mark on these systems are also playing an ever greater role. The stronger focus on customer satisfaction is creating a whole new variety of processes and thus also a multitude of process variants. These changes require a constant evaluation and adaptation of existing processes.
Process mining is an efficient tool to support these adjustments. For example, cost factors in the energy sector are particularly volatile and have a very wide range when processing an energy bill alone. However, these many process variations also represent a great opportunity for improved data analysis in order to check how one’s own processes are running. In addition, process mining also offers a good monitoring tool to monitor the optimisations that have been made. For example, it is possible to check whether process errors only are shown within the scope of control checks, which are then fed back into the standard process.
Utility companies have to make many complex decisions these days. Due to legal requirements and deadlines, process transparency is of great importance. Here, process mining offers the possibility to optimise one’s own process through modern data analyses and to make faster and more adept decisions for process improvement. For example, the transmission of meter readings to the sales department can be accelerated and risks can be eliminated in a targeted manner. In addition, there are reputational risks vis-à-vis the end customers: Requests, e.g. for an issued interim bill, must be processed as quickly as possible, otherwise customer satisfaction suffers.
In receivables management, in addition to creating process transparency, one can also identify risks of non-payment of individual invoices and thus secure liquidity in the long term. Likewise, the use of process mining creates a solid basis for system introductions or migrations, e.g. to decide whether a greenfield or brownfield approach should be pursued. In addition, there are operational risks that arise from incomplete processes, for example extremely long lay times or blocking of settlements.
Thus, process mining is a toolbox for energy companies to create evidence-based end-to-end transparency, reduce their own risks in the processes and optimise their own company.
If you want to learn more about process analysis with process mining or discuss your individual use case, get in touch with one of our process experts and book your tool demo now!