December 30, 2022

How Energy & Utilities Providers are Energizing Resources, Saving Money and Staying Financially Stable with Intelligent Automation?

Learn about how energy and utility providers can benefit from intelligent automation.

Energy is the pulse of the entire modern civilization. Today’s world can not run without energy and the dependency over it is inexplicable. However, the consumption of energy has gone off the charts and the industry is trying to optimize it from the transmission perspective.

As of today different users and different areas have different consumption. Albeit that energy sector is constantly trying to find new ways of energy production and transmission. It includes optimization of energy transmission in areas at times when the load is not that high and transmit it to areas of high load. It also entails the struggle of the energy industry to give a more customized experience to customers.

To achieve all of the above intelligent automation technologies will be required. In this article we’ll discuss different facets of the energy industry and explain how VisionERA can be a great platform for catering & optimizing energy related document workflows.

Facets of Intelligent Automation in Energy & Utilities Sector

There are different facets of intelligent automation that are being utilized by the energy sector or are gaining prominence. Some of the most common one are mentioned below:

Personalized Usage of Energy

Every household depending upon the geolocation they reside in have their own personalized consumption of energy. Each of these things at the customer's end are mitigated by several AI-based technologies such as IOT, etc. However, the common language the world is speaking right now is optimized or minimized consumption of electricity. Albeit that energy providers have started to provide personalized energy services catered to individual households. This phenomenon has only been made possible because of intelligent automation using AI-technologies. Technologies that collect data from households and provide reasonable energy plans & packages to customers.

Imminent need for Operational Cost

Again, the energy provider whether it is government backed or a private company depends on the geolocation. However, the need to reduce the operational cost and more importantly optimizing energy transfer from point A to B requires AI-technologies. Currently, intelligent automation has enabled grid systems that collect data from the entire energy network and help companies balance out transmission. This factor is also helping countries manage energies based on coal, hydroelectric plants, and nuclear reactors. It is considering the fact that coal based energy adds tremendous pollution into the ecosystem. With intelligent automation companies can resolve these issues while reducing operational cost on the side by getting real-time insights of consumption.

Ensuring Safety

Energy industry isn’t completely threat-free. A majority of frontline workers who work on the grids are risking their lives. In this situation, previously when the infrastructure was monitored manually by humans, there were chances of errors. However post intelligent automation, this work of day-to-day moderation of the infrastructure has been delegated to automation solutions.

Record Keeping and Data Processing

Energy department has to maintain a series of records for billing and energy consumptions in the shape of documents such as MRBs. However with manual reconciliation of this process, there are various instances of incorrect bills being sent to the customer. In fact, energy departments & companies are also required to collect data based on forms and documents. This data is then manually entered into the system to create inferences, insights, and future prediction. With intelligent automation this work can actually become a lot easier and the chances of human induced errors would be zero.

VisionERA - Helping Energy Industry with Document Automation

VisionERA is an intelligent document processing platform that can be implemented on a wide-array of different industry use cases. It includes the energy industry too. Every industry deals with bulk unstructured documents and then later on deals with manual reconciliation of data due to errors. However with the intelligent automation of document processing this work can be optimized to an efficient level. Levels that would provide more streamlined workflow, reduced TAT, higher throughput, and most importantly reduced operational cost.

Here’s how it works:

Prerequisite: The user is required to create their own custom workflow DIY. It would also include specifying the data points that need to be collected.

  • Compile the batch of files and documents that needs processing.
  • Upload the batch to the VisionERA console.
  • Post upload, VisionERA would automatically start extracting data from the documents.

This data can also be verified from internal databases or third-party resources if required. Also, our platform provides the capability of mathematical functions and application of business rules on the workflow. 

Once the platform is laid out, it would only ask for manual reconciliation for exceptions. After a necessary action has been taken it would be automatically replicated on to the platform for future cases.

Note: As of now VisionERA can be implemented in your organization at $0 invoicing.

Want to get a detailed walkthrough and learn about the compelling features of VisionERA, just on the click on the link here. To use VisionERA by yourself, use our trial version.

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