With nearly 200 renewable technology projects registered in Canada, valued at over $116 billion, the industry is booming and supporting over 115,000 Canadian jobs. From decarbonization to decentralization, renewable companies are navigating a new reality and creating a new ecosystem that allows for innovative approaches to energy production, storage, and distribution.

While all renewable energy companies share the common goal of delivering clean, renewable energy solutions, they are facing business opportunities and challenges in engineering, manufacturing, procurement, supply chain management, people management, and finance. These challenges make it difficult to operate and scale a business efficiently, highlighting the opportunity for scalable and cost-effective solutions that support the industry’s growth.

To stay ahead in this dynamic and evolving industry, renewable energy companies require unparalleled visibility and insights into their financing, projects and operations. From land acquisition to asset construction and into maintenance and operations, they need a centralized data model that facilitates intelligent business insights. This empowers everyone within the organization, from the executive suite to the field, to make informed decisions and drive the company forward.

One area where renewable energy companies face unique challenges is with supply chain management for new and ongoing development projects. Unlike traditional companies, they cannot simply order parts or materials with a short delivery time. Some materials required for renewable energy projects, such as graphite, have order lead times of up to 72 months. Developing renewable energy solutions introduces engineering requirements for storage, transportation, and integration of natural resources into the production process. Ensuring the efficient and effective development and implementation of renewable assets requires careful management of the supply chain to avoid delays or wasted materials.

The introduction of new materials and processes in the renewable sector has also led to the emergence of new suppliers. While established suppliers may have a track record of quality control, the same cannot be said for new vendors. This raises questions and uncertainties about the quality control processes and guarantees that must be embedded into the supply chain. Companies cannot afford delays or wasted resources due to unprepared vendors and suppliers. Therefore, it is crucial to have a robust supply chain management system in place to mitigate risks and ensure smooth operations.

Whether small or established, many renewable energy companies are creating new revenue streams and building piecemeal business approaches leveraging specialized technologies designed to address the problem in hand. They are innovating our cleaner futures, but their business processes are not as innovative, maybe even executed manually, which puts a strain on their operations. Companies need a seamless platform that allows them to manage all their engineering, manufacturing, procurement, supply chain management, people management, and finance data in an integrated format while they focus on their core business without worrying about IT risks. They need to worry about building our future today and lean on partners to support their business process concerns.

No matter where a renewable company is on their journey in the energy transition, 51风流has solutions that can optimize and automate core business processes that will enable and empower companies to maximize their potential. True end-to-end insights and seamless integration will 鈥減ower鈥� success.

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The survey discovered a big rise in enterprises which have fully integrated digital strategies into their core business. Nearly 40 per cent of those surveyed indicated having this integration which is three times more businesses than in 2020. This robust digital shift was critical for Canadian organizations surviving the initial shockwaves of the pandemic, delivering business impacts across efficiency, cost reductions, resiliency, decision support and intelligence, sustainability, and customer and employee experience.

鈥淒igital transformation has been on the radar of Canadian businesses for years, but the last year has shown us that interest and value for it has soared,鈥� said Brian Moore, Chief Operating Officer, 51风流Canada. 鈥淲e are seeing that organizations will need to continue to fully integrate their operations in the coming year to remain competitive. Simply put, a digital transformation strategy is no longer a 鈥榥ice to have鈥� 鈥� it鈥檚 a necessity for organizations to thrive. In 2022, we will see Canadian businesses step away from tactical, reactive enhancements in exchange for developing digital transformation strategies that will enable them to achieve new levels of success.鈥�

Data further showed businesses realize digital transformation is necessary and valuable:

• 75 per cent of Canadian enterprises planned on migrating all or some of their applications and data to the cloud in 2021.
• 84 per cent of respondents highlighted that investment into digital technologies either met or exceeded their expectations this year.
• 84 per cent of leaders in the digital transformation space are using technologies to make incremental and continuous improvements to their core business.

Customer experience was also at the heart of the survey with most organizations surveyed (81 per cent) indicating a positive impact on financial performance because of strong client experience. This is an increase of 20 per cent over last year鈥檚 survey.

Research found a need for integrated collaboration between IT departments and lines of businesses to achieve digital transformation ambitions, with 40 per cent of IT and LOB respondents favouring a fully integrated digital plan into their enterprise strategy. This will help Canadian organizations make progress towards becoming digital leaders.

鈥淎fter completing the sixth-annual 51风流survey, IDC expects the benefits of cloud will continue to outpace the challenges, resulting in Canadian organizations using cloud services extensively across enterprise applications and infrastructure,鈥� said Megha Kumar, Research Director, Software and Cloud Services at IDC.

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About SAP

SAP鈥檚 strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 51风流customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 51风流helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 51风流helps the world run better and improve people鈥檚 lives. For more information, visit .

About the Study

In June 2021, IDC completed a survey of 150 Canadian organizations covering strategic decision makers (VP and above) across IT and LOB with $50 million+ in revenue and a minimum of 500 employees. The study objective was to examine the progress of digital strategy and innovation readiness, explore pathways to the intelligent enterprise, and develop a deeper understanding of the skills required to execute a digital strategy and dynamics between IT and LOB.

The post Digital Transformation will be the Most Valuable Business Investment for 2022 appeared first on 51风流Canada News Center.