Industry 4.0 has catalysed the need for efficiency, connectivity and agility across the Utility industry. Utility organisations must develop agile solutions to optimise the management of utility assets. The introduction of new ways of managing and distributing energy through smart grids are being driven by a number of forces – one of them being IoT devices. IoT devices enables smart utility services where energy, gas and water usage can be proactively monitored and managed, optimising waste reduction, conservation, and sustainability goals. McKinsey note that IoT is a business opportunity, not just a technology solution. A top ten global energy company has used IoT applications to reduce production costs by 33 percent over five years, saving over US$9 billion in capital costs within three years of implementation.
From Reactive to Proactive: GeoPal IoT Functionality
GeoPal provides a fully customisable IoT enabled Field Operations Management (FOM) System, connecting field workers, remote assets and internet of things sensors. Using GeoPal IoT, Utility companies can leverage field data to immediately gain actionable insights and increase the productivity, profitability and health and safety compliance. The core benefits of implementing IoT with GeoPal include asset optimisation, efficiency, proactive service management and the ability to compete in industry 4.0.
IoT Technology facilitates digital transformation, delivering the following benefits
- 10% increase Field worker real-time utilization rates
- 50% Reduction in Office administration costs by eliminating re-entry of field data.
- 19% Increase in asset availability
- 60% Reduction in Mean Time to Repair (MTTR)
- 100% real-time Management / Data insights on GeoPal dashboards