Utilities are Transforming with Cloud Solutions
Cloud computing has applications in a wide array of industries, but utilities in particular are well-suited to reap the massive benefits of the cloud. The unique IT requirements of large, regulated organizations managing critical infrastructure are incredibly complex and notoriously difficult to manage. Only through leveraging the cloud can forward-thinking utilities stay on the cutting edge of technological advancement.
To learn about the cloud and its applications, please see our prior post for an in-depth analysis.
Why is Cloud Computing Important for the Utility Industry?
In addition to the generalized benefits of cloud computing, cloud solutions lend themselves well to the unique challenges facing the utilities industry. Cloud computing not only helps to address existing software deficiencies, but it can lead to increased, sustainable growth.
Data Volume
Many utilities store all their data and software on internal hard drives and servers. The larger the company, the more storage they require, and utilities are among the largest companies in the country. This method of handling data is difficult and expensive to scale, whereas cloud storage can be readily expanded at a marginal cost.
Regulatory Oversight
Frequently changing regulations require utilities to be increasingly flexible, agile, and efficient. Hosting services on the cloud allows for code updates to be pushed immediately, meaning users will not have to wait for manual updates to keep their systems up to date to reflect the latest regulations and compliance requirements.
Infrastructure Analytics
Utilities have a growing need to better manage an ever-expanding pool of data coming from smart meters, home energy devices and more. It is becoming increasingly clear that in order to manage this influx of information, significant investments must be made in tools that can capture and analyze grid, supply chain, and customer data quickly.
Jurisdictional Consistency
Most large utilities maintain various business units across many states and jurisdictions. Standardizing data is all but impossible if different business units have different methods of recording and maintaining datasets. A single solution stored on the cloud facilitates coordination across business units.
Customer Expectations
Utility customers are increasingly looking for more information on their utility usage, and they expect this with the high level of service and personalization that they are enjoying in other sectors such as retail and banking. Cloud computing technologies are the only way for utilities to provide the speed and control to meet these customer expectations.
Tips for Successful Cloud Adoption
A successful cloud solutions strategy should incorporate best practices in order to avoid common pitfalls. Not all cloud solutions are the created equally, and wise companies will engage with cloud providers that they can trust to take development measures seriously. The following are tips that should be considered when choosing cloud software providers.
Security
Security is perhaps the most important consideration when adopting cloud computing. Cloud solutions ought to show demonstrated operational controls and have regular security evaluations performed by a third party.
Performance
When you are working in a cloud environment, your application is running on a server which may simultaneously provide resources to other businesses. Any impact to the performance of your provider’s services can also affect the performance of your shared resource.
Uptime
Uptime should also be considered while working with cloud computing because providers may face power loss, low internet connectivity, service maintenance, etc. If your provider does not have a track record of fast response on such issues be wary of downtime.
Quality of Support
Some cloud computing companies fail to provide proper support to the customers. A common recurrence is that developers expect their users to depend on FAQs or online help, which can be a tedious job for non-technical persons. Utilities should make sure to validate the support network for any solution before adopting the solution into business-critical processes.
Cloud Solutions from Lucasys
Lucasys is a leading developer of cloud solutions for the utility industry, providing utilities with the tools they need to manage the complex tax, accounting, and regulatory requirements that regulations demand.
The Lucasys suite of tools are cloud-native, meaning they were specifically designed to take advantage of the strengths of cloud computing. Other solutions that are designed for use in-house face an uphill battle when migrating their solutions to the cloud, essentially fitting a square peg into a round hole. Because the Lucasys toolset was built in the cloud and for the cloud, clients know they can leverage every benefit that cloud computing can offer.
The agile cloud infrastructure Lucasys provides is designed to provide rapid access to secure and scalable solutions. Built-in analytics allow utilities to quickly generate business intelligence and predictive solutions to turn complex datasets into insights. Best-in-class security features allow customers to exceed compliance standards, and secure backup and recovery services protect critical data, reduce operational risk, and meet regulatory requirements.
The Lucasys team provides industry-leading data and consulting services for IT transformation, optimization, and reporting to ensure maximum use of the cloud computing environment. Where other support networks leave clients to fend for themselves, the Lucasys team understands the importance of meeting deadlines in the industry and is always available to address the needs of their customers.
To learn more about Lucasys cloud solutions and how they are advancing the capabilities of the utility industry visit https://www.lucasys.com/solutions.