November 14, 2013
The relationships between utilities and their customers are becoming more complex as a result of the deployment of smart grids. Utilities need billing and customer information systems (CISs) adequate to these more complex relationships; but those systems still face a number of significant barriers to adoption. Click to tweet: According to a recent report from Navigant Research, in order to reap the full benefits of the ongoing smart grid transformation, utilities must overcome those barriers and achieve more widespread, and deeper, adoption of advanced billing and CIS software and services.
“Initial enthusiasm in this market segment has been somewhat dampened by the realities of legacy transformation,” says Eric Woods, research director with Navigant Research. “Utilities face the challenge of justifying a considerable capital investment in a period of continued financial and economic uncertainty. However, new billing and CISs are still seen as an inevitable requirement for utilities – even if they are taking a more prudent approach to the necessary investment.”
Vendors have recognized that a cookie-cutter approach to billing and CIS transformation does not work, according to the report. Vendors need to approach utilities with the intention of becoming their long-term partner, not only for billing and CIS, but also in supporting them in their broader transformation. This includes helping clients lower their billing and CIS costs across all activities with solutions for web billing, paperless invoicing, and electronic payment.
The report, “Electric Utility Billing and Customer Information Systems”, analyzes the global market opportunity for utility billing and CIS software and services in both regulated and deregulated environments. The study provides a comprehensive assessment of the demand drivers, business models, and technology issues associated with this rapidly growing segment. Key industry players are profiled in depth and market forecasts for worldwide electric utility billing and CIS software and services revenue, segmented by region, is provided through 2018. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Richard Martin
* The information contained in this press release concerning the report, “Electric Utility Billing and Customer Information Systems,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.