Utility Modernization


Utility Modernization is a unique practice offered by operational and technology specialists in the utility field with real-life and hands-on experience. The main objective of this offering is to improve a company’s performance and efficiency by leveraging new technologies, critical thinking methodologies, and a deep understanding of the client’s current, unique environment. This practice has a holistic approach to the business and focuses on all business areas, not only improving and upgrading technology. Since there is no ‘one solution fits all’, NEOS must work closely with utility management and employees to tailor a modernization strategy that best suits their unique requirements.

Expertise

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Performance Improvement & Loss Reduction

Utilities are not high-margin businesses, so ensuring high levels of performance is critical to business success. There needs to be an all-inclusive approach to ensure areas such as Organization, Strategy, Processes, Operations, Finance, Health & Safety, and others are aligned and able to provide effective results.

NEOS can help by providing a review of all commercial cycle processes to implement improvement plans, by providing field support to all areas of operations with specialized field teams, by providing new or reviewing existing utility regulations short- and long-term strategies to achieve company objectives, and by conducting focused audits on processes, ICT, data, and business information to identify gaps and make recommendations to improve performance.

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Digital Transformation

Digitization, digital transformation, and IT modernization are trends that many organizations leverage to improve aspects of their business, such as increasing productivity, revenues, and profits. This entails evolving the IT capability of an organization into a streamlined operation that supports the organization’s business strategy and goals.

The experts at NEOS can help by providing expertise in building an Enterprise Architecture-driven Digital Transformation Strategy that is guaranteed to deliver value, ensure that IT is effectively supporting the organization’s business needs and processes, ensure the delivery of robust and secure IT systems that are aligned to user and management expectations, and leverage company data to produce business intelligence relevant and beneficial to company financials.

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Information & Cybersecurity

It is no longer a matter of ‘if’ but rather ‘when’ a business altering cyber-attack will occur. When it happens, there will be disruption, and it will take time to recover and return to normal operations and capability.

Having sound utility cybersecurity practices in place will greatly minimize the probability of a successful attack or its impact and ensure quick recovery on the remote chance that a cyber-attack makes it through.

NEOS can help by providing practical guidance on cybersecurity matters, delivering solutions to utilities, companies, and government organizations to ensure a strong cybersecurity posture, defining, and using cybersecurity maturity models, supplying training, coaching and consultation, and performing implementations and conformance assessments following ISO27001 ISMS and NIST Cybersecurity Framework.

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Resilience & Business Continuity

Although business-disrupting events are constantly occurring with various degrees of impact on organizations, they are becoming more frequent and with greater levels of disruptions.

Events such as pandemics, cyber-attacks, ransomware, failed computers, loss of employees, loss of brand reputation, intellectual property theft, and more create havoc on the continued operation of organizations.

NEOS, as one of the best business consulting companies in Dubai, can help guide business continuity and resilience strategies and planning, shorten return-to-normal time frames, and minimize the financial impacts created by disruptions.

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Due Diligence & Transactions

Utilities as companies are important businesses for the countries and populations they serve. As such, these companies have many high-value infrastructure assets and work is carried out in monopolistic or oligopolistic environments. Accordingly, these and other factors make them very interesting for long-term investments.

NEOS can help by providing specialists to conduct or support Due Diligence initiatives, conduct Due Diligence (technical and financial) of utilities, leading or being part of consortiums wishing to invest in utilities and assets related to the utility sector, or acting as a facilitator to create winning consortiums, and offering expertise in environmental services to ensure sustainable and environmentally responsible investments.

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