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Transforming the Customer Experience is Critical to Utility Evolution

Navigant white paper outlines how utilities can leverage digital strategies and tools to deliver top-tier customer experience and transform their business in an Energy Cloud environment

CHICAGO--(BUSINESS WIRE)--Nov. 15, 2018-- Today, Navigant (NYSE:NCI) released a new white paper, The Changing Value of Customer Experience in the Energy Cloud, urging utilities to transform their customer experience (CX) in order to stay competitive and help customers succeed in an increasingly connected marketplace.

As utilities navigate the transition from regulated commodity providers to sophisticated energy solutions providers, new competitors are rapidly emerging at the grid’s edge that provide platform-based energy services and redefine CX standards through efficient, low cost digital operations. For utilities to cement themselves as the customer’s premier choice of energy service providers, leveraging new Energy Cloud platforms alone will not be enough.

According to the white paper, utilities must create a truly seamless CX through digital best practices that enable customers to achieve their goals—such as cost savings, reliability, resiliency, sustainability—while also remaining a customer of the energy company or utility.

“Transforming CX is foundational to transforming utilities’ value propositions in the customer-centered Energy Cloud, where selling customers on new energy programs, products, and services through Energy Cloud platforms is becoming increasingly important,” says Jan Vrins, managing director and leader of Navigant’s global Energy segment. “Investing in CX transformation and fostering CX will be critical to unlocking this value, and ‘good enough’ CX will not be enough to stay competitive.”

According to Navigant, utilities and energy companies can build a foundation for customer trust and loyalty by adopting several best practices:

  • Focus on customer centricity: Utilities must create a culture of relentless customer focus, where the entire organization aligns around what customers want, supported by the right governance, processes, tools, and incentives.
  • Innovate with agility: Utilities will need to take chances in deciphering what works best for their customers.
  • Build a brand customers love: Now is the time to explore creative tools and solutions, such as the gamification of energy savings, voice-activation capabilities, and online utility marketplaces.
  • Use digital channels: Utilities should seek out ways through digital and proactive communication to make the journey easier both for the customer and the utility.
  • Prioritize integration: Having the correct connections and endpoints for third-party integration between energy usage and a smart home or smart thermostat creates internal efficiencies, enables stronger data analysis, and empowers a brand to more seamlessly interface with its customers.
  • Partner or perish: The market is adding new players rapidly, and established market players are expanding their capabilities and finding ways to partner across industry sectors to formulate new go-to-market strategies.

“Utilities must act now to remain relevant in the Energy Cloud future and position themselves as a customer-centric energy solution provider,” says Ted Walker, managing director at Navigant. “Focusing on top-tier CX can help accelerate the long-term transformation of the utility, while also providing near-term benefits of improved customer satisfaction and reduced operating costs.”

To read the full white paper, click here, and join the social media conversation with #FutureUtility.

With over 600 consultants, Navigant’s global Energy segment is the largest energy and sustainability consulting team in the industry. We collaborate with utilities and energy companies, government and NGOs, industries and large corporations, product manufacturers, and investors to help them thrive in a rapidly changing energy environment. Our clients include the world’s 50 largest electric, water, and gas utilities; the 20 largest independent power generators; and the 20 largest gas distribution and pipeline companies. Navigant’s seasoned professionals and highly skilled specialists form exceptional teams to help clients transform their businesses, manage complexity and accelerate operational performance, meet compliance requirements, and transform systems and governance to address upcoming changes as the energy transition takes hold.

About Navigant

Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage, and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the firm primarily serves clients in the healthcare, energy, and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.

Source: Navigant

Kyle Bland
Navigant Investor Relations
312.573.5624
kyle.bland@navigant.com
or
Lindsay Funicello-Paul
Navigant
781.270.8456
lindsay.funicello.paul@navigant.com

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