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

Frost 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

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.