Outsource for the Utilities Industry

But for those with their eyes open, there are huge opportunities in areas like renewable energy⁹ and energy distribution. According to the latest Wood Mackenzie U.S. Energy Storage Monitor, the US energy storage market has seen a 232% increase from Q1 2018, and a 6% jump from Q4 2018¹⁰. And the global energy supply services segment as a service market is expected to grow at a rate of 10.8%¹¹ from 2019 to 2024 (CAGR) to USD$86.9 billion.

Without doubt, highly specialized knowledge is required to successfully navigate these complex challenges and arrive at a point where you’re able to take advantage of the opportunities. And you’ll need to be extremely lean and efficient to offer emerging delivery models demanded by consumers (such as subscription services), as well as cleaner, cheaper and more reliable energy.

Some of that can be achieved by offshoring certain aspects of your business, such as finance, IT and data management. But outsourcing utilities roles or working with a utilities BPO isn’t just about the obvious cost benefit. It can actually enhance your capacity to provide omnichannel customer experiences such as live chat, 24/7 phone answering, sales and service, and it can also expand your online knowledge base.

That’s strategically important as consumers – both commercial and household – take advantage of increased market competition and technological capacity to demand more control over their consumption and expenditure.

Why is the utilities industry suited to offshoring?

Fortunately for utilities businesses, it’s an industry that’s particularly well suited to offshoring, because:

• The expertise and infrastructure required to perform your business processes and specialized roles in customer service, IT, etc. already exists offshore, meaning that set-up costs are minimal, the quality of the work is high, and there’s widespread cultural acceptance of the practice among consumers generally.
• Much of the work in the utilities industry is performed using cloud-based software, which is available via any browser, so the team’s physical location is irrelevant.
• A lot of the work can be done at any time – not just in business hours. In fact, having access to staff outside of traditional office hours is a must for certain teams. And a good provider will give you access to people who can work any hours you choose.

Frequently offshored utilities roles

Some of the more frequently offshored utilities roles include:

• Customer Service Representative
• Sales Representative
• Account Executive
• Business Development Consultant
• Engineer (Electric, Mechanical, Civil, Computer)
• Technical Support Specialist
• Billing Specialist
• Collections Specialist
• Project Manager.

Reference:
1 Guardian News & Media Limited. Millions could pay more for energy under price cap tweak. 7 Jun. 2019
2 Bloomberg Law. Indigenous Pipeline Opponents Seek Court OK for Blockade Protest. 12 Jun. 2019
3 Guardian News & Media Limited. 'Big stick' energy bill: Coalition MP wants economy-wide power to break up big companies. 10 Jun. 2019
4 The Wall Street Journal. 2019 Power and Utilities Industry Outlook. 14 Mar. 2019
5 Industry Dive. 2019 Power Sector Outlook: Top trends to watch. 15 Jan. 2019
6 Industry Dive. 10 trends shaping the electric power sector in 2019. 2 Jan. 2019
7 Bloomberg. Energy Prices Crash in Europe as Old, New Fuels Vie for Share. 2 May 2021
8 Phys.org. GE lost billions by 'misjudging' renewables: report. 6 Jun. 2019
9 Forbes. U.S. Renewable Power Capacity Surpasses Coal For The First Time. 10 Jun. 2019
10 Industry Dive. US energy storage market sees 232% year-on-year growth. 5 Jun. 2019
11 Insider Inc. and finanzen.net GmbH (Imprint). The global energy as a service market is projected to grow at a CAGR of 10.8% from 2019 to 2024. 11 Jun. 2019