CASE STUDY:
Energy & Utilities

Digital Transformation

Risk Mitigation and Compliance
for Major North American
Utilities Provide
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Standing up a bulk electric system and getting it successfully operational is a lengthy and complicated process.

Effective management of the asset lifecycle requires efficient coordination of a great deal of data across multiple business units, including a heavy emphasis on regulatory compliance. Above all, the changing regulatory environment certainly tops the list of challenges that need to met. Leaders and regulators are seeking greater transparency, execution control, and accountability through improvements that have the potential to impact the entire organization.

Problem

A major global electricity distributor had many cumbersome manual and paper processes that were slowing down efforts to deliver real-time data, and the company was losing ground with competitors while increasing risk exposure. The company determined that it required an immediate overhaul of its processes and a tighter alignment with an increasingly complex and stringent regulatory and compliance framework.

Solution

The client embarked on a digital transformation journey. ODESSO was chosen as the system integration consulting organization to:

  • Increase speed to compliance
  • Improve oversight, accountability for decision making, and staff effectiveness
  • Achieve a comprehensive and real time view of large sets of transient data
  • Gain a full audit history of risk processes across multiple businesses and regions

ODESSO navigated the client through complex technology challenges using its no-code and low-code expertise to:

  • Integrate data across existing systems
  • Dynamically manage cases to handle complex interactions
  • Implement business process, workflow, and collaboration management
  • Embed AI, RPA, and other advanced technologies • implement trusted security, reliability, and governance with cloud-enablement
  • Leverage real time data collection from IoT enabled devices to inform and enforce critical business decisions.
  • Introduce spatial computing technologies to aid in field data collection

RESULT: Risks Converted to Rewards


Immediate successes were realized in reduced security risk exposure, followed by improvements in every phase of the audit lifecycle due to data-driven evidentiary processes.

Increased Speeds

Cycle times were reduced from an average of 212 days to 47 days leading to faster data driven decisions.

Risk Mitigation

Better process management led to decreased risk exposure.

Simplified Compliance

The ability to proactively meet the regulatory requirements during utility provisioning phases was significantly improved.

Eliminated Data Silos

 Data from new departments was integrated within a few weeks and with minimum consulting resources.

Reduced Reliance on Code

Eliminated 65 thousand lines of code leading to operational efficiencies and easy-to-maintain software environment.

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