One-Third of Utilities Spend More on TCO for CIS Than Expected, Some Significantly More

Austin, TX, April 13, 2016 --(PR.com)-- Utilities are beginning to understand the potential of cloud technology in helping them address current and future challenges.

These findings and more are revealed in Priorities and Challenges in Customer Experience: Impact on the Utility CIS, a report published today by TMG Consulting.

The publication and supporting research, commissioned by VertexOne, was conducted by TMG’s research and innovation practice, RIMSolutions™ in order to uncover utilities’ most pressing challenges, top priorities in customer service, and planned technology to support future goals.

“Utilities are being challenged by more factors than ever before, whether by their own customers who expect a greater level of service, or by the impending retirement of a skilled workforce,” says TMG Vice President Vanessa Edmonds. “Many are starting to realize they are going to have to innovate through new technology and business practices.”

Notable findings from the study include:
· Approximately one-third of utilities surveyed report their organization’s total cost of ownership (TCO) for CIS was more than was originally anticipated, and in some cases, significantly more so.
· Slightly less than half are exploring technologies to augment their current platforms, and just over one in four utilities surveyed plan to replace their CIS within the next two years
· Nearly seven out of 10 utilities surveyed rate web and mobile self-service channels as an “essential” customer experience priority.
· Many industry experts believe cloud technology offers benefits of a more agile way of improving customer experience, upgrading an aging CIS, and even lowering cost, risk and resources expended, but agree utility uptake will take time.

“As the cycle of change continues to speed up in the industry, utilities can struggle with the resources needed to keep up with customer expectations,” says James Riley, chief strategy officer of Vertex. “We are seeing utilities look at cloud-based technology because they can improve their agility, and take advantage of predictable IT costs and service levels.”

About TMG Consulting
Proof of TMG’s effectiveness is in our history of successful engagements; we have delivered more than 400 projects for 250 public- and investor-owned utilities, evolving energy companies, and city, county and state governments since 1992. Visit our Downloads page for case studies and recent successes.

About Vertex
Dedicated solely to the utilities industry, Vertex Business Services is a recognized leader in customer experience solutions. Vertex serves more than 30 million customers for 55 electric, gas and water clients across North America. Through a wide range of innovative services and solutions — from the VertexOne Software as a Service platform, to consulting and analytics, to BPO and customer experience outsourcing — Vertex helps utilities more efficiently deliver a compelling customer experience. For more information, visit www.vertexone.net.