Enterprise Resource Planning for Oil and Gas Companies
Oil and Gas companies face operational, financial and regulatory processes that are far more complex in nature than any other industry. Each Oil and Gas company faces challenges which need real world solutions that are flexible and affordable. This is why Enterprise Resource Planning (ERP) offers Oil and Gas companies a way to save time and money with an easy-to-use system that includes the tools needed to connect and manage processes, assets to ensure, profitability and compliance.
The benefits of ERP for Oil and Gas Companies include:
The ability to address regulatory complexity
- With shifting regulations, the need for best practices around ensuring and demonstrating regulatory compliance is high priority for Oil and Gas companies
- Companies in Alberta must deal with issues around new regulations, co-management and land use as it pertains to ALSA in surveying of well sites, access roads and pipeline right-of-ways. In BC, the agreements between the province and Treaty 8 nations present a wide array of new complexity to Oil and Gas companies
- Ideaca's Oil and Gas solutions help address key issues around regulatory compliance with built-in Process Controls and Reporting
Easy management of joint ventures and international operations
- Comply with local and global regulations
- Support multiple locations, currency and languages
- Exchange rate adjustments
Accounting and financial solutions for Oil and Gas companies
- Accounting and financial solutions for Oil and Gas companies
- Authorization for Expenditure (AFE)
- Division of Interest (DOI)
- Gross and net reporting
- Optimize cash flow
- Allocate costs per well/owner
Intelligent forecasting and visibility
- View supply chain at a glance
- Comprehensive resource planning
- Access to real-time data
- Inventory/Equipment management
- Complete audit trail
- Accurate and detailed reporting
The ability to address "brain drain" issues
- A talent shortage looms as workers and experience shortages that are expected when more than half of oil and gas professionals retire in the next 10 years
- Ensure critical information and knowledge is passed on from one generation of workers to the next with document best practices and increased efficiency in the upstream environment
- Integrate people, processes, and technologies across the enterprise with composite applications that reduce time to market, accelerate prospect evaluation, and coordinate well planning, rig selection, scheduling, and drilling
Improved field service management
- Empower employees with timely, integrated information and resources
- Optimize work performed, work scheduling, assignment, and dispatch processes
- Streamline work order life cycle management
- Enhance tracking and management of personnel, assets, and contracts
- Boost profitability and customer satisfaction for a competitive advantage
Enterprise Resource Planning can also be implemented into many other industries, including Retail, Financial Services, Professional Services, Energy, Manufacturing and more. To learn more about Enterprise Resource Planning for Oil and Gas companies, speak to one of our ERP specialists at 1-866-816-4332 or contact us online.
