Energy and Utility companies have used the same legacy systems for decades to store vital company information and manage large amounts of data. But with modern advancements to tech providing the efficiency and agility it takes for businesses to grow without putting unnecessary strain on IT, those same legacy systems have become more of a liability than an asset.
Today’s customers expect more from their energy and utility companies, especially in terms of digital experiences without having to worry about their data. But at a time when the industry should be looking ahead as the way we consume energy evolves along with technology and consumer demands, they’re falling behind other industries–and it’s impeding their ability to provide critical services and satisfy customers.
According to the J.D. Power 2022 U.S. Utility Digital Experience Study, energy utilities fall behind other industries when it comes to digital experiences like apps and mobile-friendly websites.
These outdated computer systems are difficult and expensive to maintain and upgrade, and they can have a significant impact on the customer experience of energy companies in several ways.
Limited Functionality
For those who have been relying on legacy systems for decades, they may seem reliable and affordable. Companies may also be hesitant to switch to more modern tech because of potential costs, complexity, and disruption to their business. But legacy systems often come with a clunky functionality that can cause consistent delays and frustration for customers trying to access their accounts or make changes to their services. Between long wait times on the phone or confusing website navigation, companies wind up delivering a poor customer experience that slows business growth.
Outdated Technology
Legacy systems can hold companies back from investing in digital innovation. They’re not always designed to be compatible with newer technology or mobile devices, which limits an organization’s ability to address critical business needs on top of preventing customers from using the latest tools and apps to manage their energy usage. They’re also expensive to maintain, especially given the shortage of professionals skilled in legacy languages like COBOL. Without a comprehensive digital strategy and modernized system in place, it becomes as difficult to consistently meet customers’ evolving demands as it is to train new employees.
Unreliable Data
When you’re working with a patchwork of different systems, you’re sacrificing your data flow. Minor discrepancies in how customer information is entered in each system can lead to duplicate and ultimately inaccurate data. Even if teams work overtime to fill these gaps, delayed data analysis means companies can’t provide customers with accurate real-time data on their energy usage and billing information. This can cause customers to lose trust in the energy company and feel frustrated with their overall experience.
Security Threats
Finally, legacy systems can pose serious security risks. Some legacy systems haven’t been patched or updated since they’re no longer supported by their manufacturers, meaning they may no longer be compliant with the latest security protocols or protected against the latest malware. This leads to valuable customer data being exposed to security breaches that can not only impact the trust customers have in their services, but also your company’s reputation and revenue.
It’s Time to Modernize
Overall, legacy systems hurt the customer experience by causing delays, reducing convenience, and compromising data security. It’s crucial for energy companies to be proactive, invest in digital transformation and modernize their systems to provide a seamless and personalized experience for their customers and ensure long-term business growth.
This is where HCLSoftware’s UCX platform comes in. The UCX Platform empowers energy and utility companies to transform their customer experience through digital innovation. By creating immersive and seamless digital experiences, these companies can boost customer satisfaction, retention rates, and ultimately, their bottom line. With the UCX Platform, energy and utility companies can stand out in a crowded market and stay ahead of their competition.