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IT is transforming Utility and Petroleum Industry

Juuhi Ahuja
President & CEO-Wise Men
Sunday, March 4, 2012
Juuhi Ahuja
Wise Men, based out of Houston TX, is a leading IT Solutions firm focusing on industry verticals such as Energy & Utility and Oil& Gas sector. An award winning Women and Minority owned business, Wise Men has recognized by Inc 5000 as one of the fastest growing companies in the US and one of the top 50 locally. Wise Men is owned by Juuhi Ahuja and has two divisions; Wise Men Consultants and Wise Men Solutions. Wise Men Solutions division is headed by Deepak Chandwani who is a 20 year technology industry veteran and focuses as extensive experience in developing IT Solutions verticals. Wise Men helps its customers implement cutting edge technologies such as Smart Grid Initiatives and PIDX eInvoicing, and ERP solutions.

Smart Grid

Utility industry is seeing a transformation like no other. Over the last 100 years very little has changed in the way power is distributed and consumed. The Power distribution grid is in desperate need of upgrades to meet the current demands and maintain its reliability. Since grid infrastructure is difficult to change, complex to maintain and upgrades takes a very long time, significant investments need to be made to make the grid scalable for next 100 years. With the advent of consumer driven generation, these devices need to be plugged into the grid and consumers can play the role of generators. Power generated needs to be measured for billing and settlement purposes, a significant change compared to current processes.

Utility industry, often compared to telecom industry has not evolved and does not leverage the technology to improve the service and lower its costs to operate. The difference is in the rate of transformation led by adoption of the technologies. Telecom industry deregulated long time ago and the competition in the market led to faster adoption of the newer technologies. The Utility industry on the other hand operated as regional monopoly, utility companies were paid a fixed percentage of the cost as margin and as such didn’t have any incentive in adopting new technologies in order to reduce cost and improve customer satisfaction.

What’s next?

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