Accelerate the speed and reduce the cost and risk of energy change with the industry’s most complete, connected and efficient suite of cloud and application solutions.
On Oracle Cloud Infrastructure, National Grid’s machine learning to analyze renewable energy sources is 40% more accurate versus prior solutions, and reduces query time from hours to minutes.
A global pandemic, increased tension on the future of fossil fuels and increased market uncertainty are causing widespread change across the end to end energy industry value chains: from energy to electricity retail. The industry is in fact moving from a conservative past to a new future of energy (i.e. the energy transition or the green shift) that requires innovative strategies, new business models and the ability to operate in an increasingly complex operating environment.
In this context technology is emerging as an invaluable enabler, with AI-driven operations and business process automation driving significant improvements and cost reductions. As emerging technologies reshape the industry, and companies accelerate on digitization to enable remote operations, improve cash position, and decarbonize their asset portfolio, new capabilities are required to thrive in the energy markets of tomorrow.
Enable your organization to do sicario modelling on your complete portfolio. Take a top-down approach on your business and connect all variables. Oracle EPM is built to collect all your data and can-do advanced simulations in minutes. Will you do further investments, diversify, and refocus or abandon some assets? Reshape your planning capabilities.
|Budgeting & Forecasting||Strategic Modelling (Long Range Planning, Portfolio Planning, etc.)|
|Objective||Develop an enterprise-wide plan for the current corporate strategy||Develop, monitor and adjust corporate strategy|
|Style of planning||Bottom Up||Top Down|
|Users involved in the process||Broad representation across the whole enterprise||Strategic stakeholders only|
|Level of detail||Relatively detailed (e.g. line items, cost centers, entities, product SKUs, etc.)||Summary level (e.g. market, channel, product line, etc.)|
|Chart of account detail||Frequently limited to key areas like Revenue and/or Expenses||Must be full and connected Income Statement, Balance Sheet and Cashflow (e.g. earnings per share|
To be successful, today’s businesses must understand disruption as it happens and have the decision support required to quickly react. With integrated business planning and execution, you can connect financial and operational planning, align plans with execution, reduce decision latency, and enhance global visibility.
Business growth is often fueled by projects, large and small, but to be successful, these projects must be connected with finance and other lines of business throughout the organization. Learn how to model all project costs and returns on one platform, monitor costs against forecasts, and quickly make project portfolio adjustments.
High Performance Computing on Oracle Cloud Infrastructure (OCI) is a highly performant and cost-effective HPC platform for industries, enterprises, and government bodies to solve complex mathematical and scientific problems faster.
This cloud interoperability partnership combines Oracle and Microsoft technologies to support both line of business and mission-critical applications.
Retooling the future energy company will require new skills to equip an efficient modern workforce. The global energy industry will undergo a sustained period of transformation over the next decade. The change will not just be a matter of doing things differently. We will literally be doing different things that will demand new ways of thinking and operating. As energy companies find themselves dealing with such a new workforce paradigm they will have to rethink their HR business process architecture and target operating model. We believe this will require changing the role and positioning of HR by building on traditional strong functional delivery, continuing the development of skills around data-rich talent planning and management and embracing greater levels of automation and self-service in the way HR provides its services.
Massive investments are talking place in the Energy sector to transform this industry at very fundamentals levels, away from energy legacy and into Renewable Energies. This is precisely where Oracle and Inspirage are ready to help companies in their digital transformation to support new ventures, new business models, innovative products lines, and totally new supply chains, thanks to the years of experience in the high tech, industrial manufacturing, and regulated service sectors. Oracle and Inspirage are already helping companies to implement their sustainability initiatives and control their carbon footprint – adding to their expertise.
Rick Jewell, senior vice president, Applications Development, Oracle
As organizations chart their paths to post-pandemic growth, cost reduction remains a top priority. In fact, a recent Deloitte survey found that two-thirds of companies globally expect to pursue cost reduction strategies over the next 12 months. Increasingly, however, this strategy must be combined with a focus on supply chain resilience as well as environmental, social, and governance policies.Read the full story
We can observe three main business models that are emerging to navigate the energy transition, each with different focus on „Where to Play” and „How to Win”:
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The world needs more energy and less carbon, a dual demand that’s driving change for oil, gas (O&G) and energy companies like yours.
Four key energy transition challenges for Energy, Oil and Gas companies
Navigating the energy transition: three main business models