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Digitalization of companies

The challenge of the digital transformation

Throughout the last few decades, digitalization has marked a significant milestone in business transformation. This process implies a fundamental change in the way companies operate and interact with their environment.

At Repsol, we have led this path since 2017, demonstrating how constant innovation and adaptability are essential in this new digital era. As we have adopted digital tools to improve our processes and develop new business models, we have fully immersed ourselves in a second stage of digitalization.

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What is business digitalization?

Business digitalization is the strategic process by which a company transforms and modernizes its functions and operations, migrating from an analog approach to a digital environment.

It constitutes an evolution in the way that organizations run their operations; moreover, it marks a structural change from the traditional management models towards approaches that offer superior productivity, efficiency, and profitability levels.

This transformation process is possible through the use of technologies and digital tools, which optimize work flows and reduce costs, as well as allow the construction of a more sustainable future.

Advantages of digitalizing a company

The digitalization of businesses offers numerous advantages, including:

A piggy bank to represent the concept of economic savings

Cost reduction

Leveraging digital media enables cost reduction by automating processes, optimizing resources, and improving cost management.

A person analyzes the profitability of digital companies

Productivity improvement

Workers of a digitalized company have access to tools that facilitate work and improve their efficiency and productivity. Automating tasks also allows them to dedicate time to activities that are of greater value to them.

A person clicks on a digital clock displayed on a screen

Time reduction

The digital transformation allows you to automate tasks, access data in real time, and work remotely, among other advantages, which significantly reduces execution times and contributes to greater efficiency.

A video call at work using new technologies

Fluidity in communication

New digital communication tools allow you to establish closer and more personal connections, which increases the number of sales channels and improves customer loyalty.

Improvement of user experience

The digitalization of companies allows customers to access products, services, and information at any time and from any place, which improves the user experience.

Key steps to digitalize a company

The steps to digitalize a company may vary according to the particularities of each company or the type of product offered, so it isn't a standardized process for all organizations. However, there are a series of recommendations that can be carried out both for the digitalization of SMEs and large companies:

Ensure management commitment and support for the digitalization project.

Form a multidisciplinary team with a leader interested in the digital environment and in how to adapt it to the company's structure.

Communicate to the team the relevance of the project for the company's future, highlighting the opportunities it entails.

Ensure that the team designated for said objective is proactive and capable of operating with maximum performance.

Maintain constant and fluid communication at all times.

Digital transformation at Repsol

Repsol has consolidated its position at the forefront of the digital transformation as a fundamental part of its strategy to meet the challenges of the energy transition and drive efficiency. Through an ambitious Digital Program that began in 2018 and will run until 2025, significant economic impacts have been achieved and numerous digital initiatives have been launched that support the company's commitment to achieve net zero emissions by 2050.

Repsol's Digital Program

Repsol's Digital Program has been divided into two stages, the first of which ended with a portfolio of more than 550 digital initiatives underway throughout the value chain. During this period, we exceeded the aim of generating a cash flow increase of 800 million euros. The second digitalization wave, which runs from 2023 to 2025, targets a projected increase in cash flow of 500 million euros, with an annual investment of 120 million.

In technological terms, Repsol is one of the leading companies in the application of Artificial Intelligence (AI). We focus our efforts on the automation of operations through digital twins, robotics, Internet of Things, and 5G, mainly in industrial environments. We are also developing new digital interaction channels with customers.

Repsol explores the opportunities that generative Artificial Intelligence (AI) offers its businesses and employees in a secure and responsible manner. To this end, we have created the first Center of Competence in generative AI in the European energy sector, which will serve to identify how generative AI can create business value, drive new ways of working that facilitate employees' daily lives, and improve productivity.

The value of people in the digital transformation

People are the driving force behind Repsol's digital transformation, so it is fundamental to train our professionals in digital skills. For this purpose, we have created Repsol Data School, a corporate school of data analytics that offers everything from introductory programs to specialized programs for experts.

Digitalization and collaboration with other companies

Collaboration is an essential factor to guarantee the success of Repsol's digital transformation. We have developed a digital ecosystem of partners: strategic partners, large suppliers, and other smaller organizations with very powerful specific skills, with which we collaborate closely and that help us advance in our digital transformation.

We are also part of several digital consortiums, such as IndesIA, where we have played a leading role in promoting its creation and launch.

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