The solar industry is in the midst of a massive digital transformation, with new technologies and business models being developed at an unprecedented rate.
This is having a major impact on solar installation companies, who are struggling to keep up with the pace of change. To stay ahead of the curve solar installation companies need to embrace digital transformation and use it to their advantage.
The Impact of Digital Transformation on Business Performance
Technology, as we all know, is constantly evolving. Incorporating core data, optimizing processes and on top of it, integrations, and then real-time tracking.
It’s hard to keep up!
Solar installation companies are hesitant to invest in digital transformation because they aren’t sure if the investment will pay off. And, it is not just a question of costs, but especially of capacity for innovation. Many solar installation companies do not know how or in what technology to invest.
They know digital transformation is necessary, but most of them are not sure where to start, or even which processes to begin with.
According to McKinsey, a consulting firm specializing in transformation, the digitization of companies is still less than 40% of its potential.
However, when done strategically, companies can not only improve revenue in the long run but reshape business with digital transformation. And we know, the question still stands:
In business, time is money.
That's why efficient business processes are essential to success.
Digital transformation is not just about adopting new technologies – it’s about changing the way you do business. Solar companies that embrace digital transformation will be able to stay ahead of the competition and win more business.
So if you’re ready to take your solar company to the next level, it’s time to start thinking about digital transformation.
The Digitization of Procurement Processes
In the business world, change is the only constant.
As technology advances and the marketplace evolves, organizations must adapt or risk being left behind. For procurement processes, this means embracing digitalization and reaping the benefits that it has to offer.
By harnessing the power of data, artificial intelligence, and bots, procurement can become a strategic partner for the solar installation companies, driving meaningful change and improving bottom-line results.
With so much potential at its fingertips, there's no reason not to embrace digitalization and make it work for you.
The objectives- Identify and prioritize goals
With this in mind, digitization of procurement processes and tasks must aim for a two-fold objective:
Optimize the time spent on each task, specifically in a context of growing pressure on procurement costs and personnel, to ensure the attainment of the best possible result at the lowest possible cost, and to focus the efforts of buyers, whose time is an expensive resource, on higher-value tasks.
Maximize the impact of data analysis tasks by improving their precision and exhaustiveness; maximize the impact of collaboration by multiplying points of contact inside and outside the organization, in order to work on prescriptive optimization levers and maximize the level of control over consumption (volume driver) by ensuring the reliability of transactional systems.
Increased pressure on procurement to produce results, combined with cost and workforce constraints, make it more critical than ever to adopt tools and systems, which alone can cut through efficiency and effectiveness boundaries.
The following priorities must be addressed:
CRM: Sharing/uploading of information collected on suppliers by all points of contact, whether in procurement or in the business lines, for CRM purposes, or to support supplier innovation capabilities.
ANALYTICS: As we have seen previously, not only do analytics represent a major portion of the time devoted by procurement professionals, but also determine the quality and results of procurement strategies, negotiations and consumption management. Above and beyond solutions, the point is to mobilize the data of the entire solar installation company by breaking down informational silos.
PAPERLESS: The paperless organization is a big change, but the positive implications are numerous. Fully dematerialized processes, with a particular focus on contracts (including electronic signature) and supplier invoicing, are a main objective in terms of organization.
VIRTUAL COLLABORATION: Video conferencing by PC/mobile/tablet, screen sharing, and synchronized online collaboration with unique documents are practices that can be institutionalized at low cost and implemented rapidly with tangible benefits.
Procurement digitalization as a system building block makes sure that solar installation companies capitalize fully on the savings generated in upstream phases, specifically with the algorithms found in the very latest solutions, which can be used to orient consumption behaviors.
Users are henceforth completely familiar with such systems, which have now become part of everyday life for their private procurement activities (Amazon and other e-commerce sites).
A key objective is to deploy an integrated modular system that can be adapted to the specific needs of each procurement process, all while preserving a high level of standardization and modularity.
These new generation procurement system software offer:
More visibility into deal flows and pipeline management;
More control over spend; an enhanced ability for virtual collaboration;
Greater agility in sourcing processes;
The ability to integrate artificial intelligence and automation tools.
The implementation of such a system is now possible thanks to two major trends:
First, there has been an explosion in cloud computing solutions, which offer powerful capabilities for fast provisioning and scaling capacities;
second, we now have much more powerful smartphones (iOS and Android) that can be used as mobile terminals for business applications.
The benefits of digitizing procurement
Technological advances, combined with the explosion of mobility, data, and cloud solutions, make these approaches more relevant than ever.
The benefits of digitizing procurement processes are clear:
Greater efficiency thanks to the automation of time-consuming tasks.
Increased transparency, including increased traceability and visibility throughout the process.
More consistent approaches to risk management across all purchases,
Faster processes by reducing mistakes through clearer communication among all stakeholders.
Greater precision and compliance with regulations, as well as improved audit trails.
Improved supplier management capabilities, including the ability to identify and assess new suppliers quickly and easily.
Reduced administrative costs.
Drive growth through digital procurement
We are now witnessing the emergence of digitalization in the solar industry.
Procurement leaders must integrate next generation solutions to successfully drive process efficiency and increased compliance, demand management, and analytics.
Technological advances, combined with the explosion of mobility, data, and cloud solutions, make these approaches more relevant than ever, as they address the two great remaining challenges: complexity of integration and the user experience.
If you would like to discuss how we can help you overcome these challenges, please Contact Us or Schedule a FREE DEMO.
PowerOn is an end to end software solution specifically tailored to meet the needs of the solar installer's companies.
Optimized both for residential and commercial solar installation companies of any size, the PowerOn software solution saves money and time by streamlining the entire installation process.