The electric utility industry is undergoing one of its most significant digital transformations. As utilities modernize grids, integrate renewables, and face increasing pressure to reduce costs while improving reliability, Meter Data Management (MDM) systems have taken center stage.
More than a decade ago, my co-founder, Musaddeq Khan (MK), and I launched Verdeeco—a bold, cloud-first vision for utilities that offered MDM as an on-demand, pay-per-application, and pay-per-asset platform. The analogy we provided in our Sales call was “Buy the one song instead of the entire CD album, but also only pay for as long as you listen to it, i.e., pay for the number of minutes you listen to a single song in an album full of songs”. At the time, many considered it ahead of its time. Today, I believe the moment has arrived.
The Shift Toward Cloud-Native MDM
Historically, MDM was delivered through expensive, on-premise installations with perpetual licenses and ongoing maintenance. Plus, a utility engineer trained on this expensive software would retire, use it occasionally, and forget the nuances of operating it. These legacy systems now struggle with the volume and velocity of smart meter data, which can arrive every 15 minutes or less. The rise of distributed energy resources, real-time pricing, and customer engagement strategies demands more scalable, flexible, and analytics-ready solutions.
Cloud-based MDM offers clear advantages:
- Scalability for fluctuating data volumes
- Lower TCO via OpEx vs. CapEx
- Faster deployment cycles and continual software upgrades
- Integration readiness across enterprise systems like OMS, GIS, and CIS
Unsurprisingly, major vendors—Oracle, SAP, Siemens, Itron, AVEVA—now offer cloud-based solutions. The industry has embraced what Verdeeco envisioned.
Verdeeco’s Original Model: A SaaS Vision Before SaaS Took Hold
When we launched Verdeeco, we aimed to democratize access to grid analytics. Utilities could subscribe to individual applications, like transformer loading or voltage optimization, and only pay for what they used. The pricing model was modular, charging per asset (e.g., per meter analyzed). It was a utility-grade app store long before “as-a-service” became mainstream.
For smaller utilities or those piloting AMI programs, Verdeeco eliminated the need for multi-million-dollar investments in traditional infrastructure. We proved that scalable, secure MDM could be affordable and immediately valuable.
Sensus acquired the platform in 2014 and later became part of Xylem. While the acquisition validated our direction, Sensus absorbed the granular flexibility of Verdeeco’s model into broader product offerings.
Why This Model Works Better Today Than Ever
The utility sector is finally ready for a new wave of Verdeeco-style innovation:
- Cloud Maturity – Utilities are more comfortable with cloud security and data residency frameworks.
- Budget Consciousness – OpEx models align better with today’s financial constraints and regulatory scrutiny.
- Use-Case Flexibility – Not every utility needs an enterprise-wide rollout; they want to solve discrete problems fast.
- Data Volume Variability – Pay-per-asset models scale naturally with data maturity and rollout phases.
- Faster ROI – Quick wins on focused use cases build buy-in for further digital transformation.
For smaller or mid-sized utilities, the ability to subscribe to only what’s needed, when it’s needed, makes digital modernization more attainable.
What a Next-Gen Verdeeco Would Need
To succeed in today’s market, a modernized Verdeeco would need more than consumption-based pricing:
- Robust compliance (e.g., NERC CIP, GDPR)
- Open integration with third-party systems and meter types
- Integrations with leading CIS systems (Oracle, SAP) and HES (Itron UIQ)
- Advanced analytics powered by AI/ML for predictive grid management
- User-first design with clean dashboards and customizable workflows
- Partner ecosystem to co-innovate with smart device manufacturers
- Proven ROI stories from early adopters and pilot programs
In short, any new entrant must deliver the flexibility of SaaS with the rigor utilities demand from critical infrastructure platforms.
Looking Ahead
The SaaS market for utilities is no longer theoretical—it’s a reality. The appetite for agile, modular, and value-driven platforms will only grow as the MDM market accelerates. A new Verdeeco, launched today, could strategically accelerate digital transformation — especially for utilities seeking to modernize incrementally without taking on massive risk.
The original spirit behind Verdeeco wasn’t just about the cloud—it was about choice, speed, cost-effectiveness, and easy access to applications and technical know-how. That legacy, I believe, still matters today.