IDEAS home Printed from https://ideas.repec.org/a/nwe/natrud/y2022i1p13-41.html
   My bibliography  Save this article

Development of Business Processes in the Energy Sector

Author

Listed:
  • Petya Biolcheva

    (University of National and World Economy, Sofia, Bulgaria)

  • Sotir Ivanov

    (University of National and World Economy, Sofia, Bulgaria)

  • Evgeni Valchev

    (Plovdiv University “Paisii Hilendarski†, Plovdiv, Bulgaria)

Abstract

The energy sector is among the key sectors of the economy. In order to meet market dynamics, to comply with regulatory requirements and in particular the Green Deal, the sector needs to invest in innovation. To achieve higher quality of the final product is essential to ensure the continuity and the optimality of the business processes taking place in the energy companies. This can be ensured through their complete transformation, introducing them to the “Age of Artificial Intelligence†. This paper tracks the development of business processes and outlines the trend in the following years. It reveals key business processes for energy companies and shows how they can be significantly improved through the capabilities of artificial intelligence. In order to achieve full synchronisation in their management, the way in which they can be integrated is also shown. This ensures the creation of a complete product with clear interconnections and full functionality.

Suggested Citation

  • Petya Biolcheva & Sotir Ivanov & Evgeni Valchev, 2022. "Development of Business Processes in the Energy Sector," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 1-13–41, April.
  • Handle: RePEc:nwe:natrud:y:2022:i:1:p:13-41
    as

    Download full text from publisher

    File URL: http://unwe-research-papers.org/bg/journalissues/article/10491
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    business processes; energy; artificial intelligence; process integration; perspectives;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nwe:natrud:y:2022:i:1:p:13-41. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Vanya Lazarova (email available below). General contact details of provider: https://edirc.repec.org/data/unweebg.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.