Digital transformation boosts profits for 72% of energy sector businesses

They employ low code/no code or cybersecurity systems.

Around seven in 10 businesses in the energy sector saw profit or performance growth in the last 24 months due to their digital transformation which includes the adoption of low code/no code or cybersecurity systems, according to a KPMG report.

Sushant Rabra, Partner, NDT-Digital Advisory, KPMGI in India, said low-code/no-code platforms, which are used to improve customer experience, service quality, ESG compliance and overall collaboration, can fast-track processes.

“Compared with classic platform buildout, low-code/no-code platforms make processes up to five times faster, which expedites time-to-market, time-to-value and time-to-change,” Rabra said.

ALSO READ: Why energy firms struggle with cybersecurity

Because of this, KPMG found that 74% of the respondents from the energy sector firms said that their business leaders are confident in the resilience of the applications built by the platforms, higher than the 59% average across all sectors surveyed.

“Energy organizations are aware that this is the way forward,” Rabra said. “They have seen the value of these systems first-hand, so they are not going to go back to classical application development factory models.”