Frost Radar™: Digital Platforms for Customer Care and Engagement in Electric Utilities and Retailers, 2023
Published on: 20-Sep-2023 | SKU: EG_2023_150

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Energy is the world’s most dynamic industry in need of change. Electric utilities and power retailers are the backbone of the energy transition as they cope with increasing power demand and changing load patterns driven by electrification. They also enable greenhouse gas reductions by integrating distributed energy resources such as solar rooftops, battery energy storage systems, and electric vehicles, while helping customers become more energy efficient.

Customer care and engagement systems (involving billing, customer information systems, and other customer service suites) are at the core of power retail business and have a dominant role as energy suppliers transform into clean energy service providers. A series of market shifts are disrupting the industry and calling for substantial changes in the functionalities and characteristics of these software solutions to make business processes more automated and efficient while allowing for faster innovation.

The demand for more modular, real-time, and easy-to-scale solutions with lower costs to innovate and faster implementation times drives market participants toward developing integrated, cloud-native platforms.

Frost & Sullivan analyzes numerous companies providing digital platforms for customer care and engagement in electric utilities and retailers. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.

Digital Platforms for Customer Care and Engagement in Electric Utilities and Retailers 2023

  • Digital Platforms for Customer Care and Engagement in Electric Utilities and Retailers

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
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A tailored session with you where we identify the:
  • Strategic Imperatives
  • Growth Opportunities
  • Best Practices
  • Companies to Action

Impacting your company's future growth potential.

Energy is the world’s most dynamic industry in need of change. Electric utilities and power retailers are the backbone of the energy transition as they cope with increasing power demand and changing load patterns driven by electrification. They also enable greenhouse gas reductions by integrating distributed energy resources such as solar rooftops, battery energy storage systems, and electric vehicles, while helping customers become more energy efficient. Customer care and engagement systems (involving billing, customer information systems, and other customer service suites) are at the core of power retail business and have a dominant role as energy suppliers transform into clean energy service providers. A series of market shifts are disrupting the industry and calling for substantial changes in the functionalities and characteristics of these software solutions to make business processes more automated and efficient while allowing for faster innovation. The demand for more modular, real-time, and easy-to-scale solutions with lower costs to innovate and faster implementation times drives market participants toward developing integrated, cloud-native platforms. Frost & Sullivan analyzes numerous companies providing digital platforms for customer care and engagement in electric utilities and retailers. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.
More Information
Deliverable Type Frost Radar
Industries Energy
No Index No
Is Prebook No
Keyword 1 Digital Platforms For Utilities
Keyword 2 Digital Customer Service Solutions
Keyword 3 Customer Experience In Utilities
Podcast No
WIP Number K946-01-00-00-00

Frost Radar™: Digital Platforms for Customer Care and Engagement in Electric Utilities and Retailers, 2023

EnergyFrost Radar™: Digital Platforms for Customer Care and Engagement in Electric Utilities and Retailers, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
20-Sep-2023
REGION
Global
Deliverable Type
Frost Radar
Research Code: K946-01-00-00-00
SKU: EG_2023_150
AvailableYesPDF Download
$4,950.00
In stock
SKU
EG_2023_150