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ERP Software for Oil & Gas Industry is one of the most challenging industries for many reasons — uneven topography, strict government regulations, and handling and maintaining rugged equipment. Therefore, companies need to solve diverse industry challenges efficiently without cost-incurring delays. A comprehensive enterprise management solution that identifies challenges and has appropriate functionalities to meet them is the need of the hour. Fortunately, Sage X3 delivers just that.
Decreasing downtime and improving equipment reliability are two of the most critical challenges for oil and gas companies. Companies need to constantly run their equipment within the optimal range as mentioned by the Original Equipment Manufacturer (OEM), which helps boost the “Mean Time between Repair Replacement.”
The aging workforce is a massive challenge for every oil and gas company—the main reason being the high amount of risk and volatility in this sector. As a result, when experienced employees leave, companies feel the pressure of onboarding new contractors and employees. But the main problem is that they are less experienced in their jobs and unfamiliar with how processes are executed. Therefore they need a lot of training sessions before they can perform their job efficiently.
The oil and gas industry is susceptible to various large-scale events, such as shutdowns, turnarounds, lockout/tagout, and equipment isolation events that require a lot of planning and a few days, weeks, or months to return to normalcy. Also, oil and gas companies are easy targets for large-scale accidents during shutdowns and need extra care and planning to keep employees safe.
The oil & gas industry needs facility and equipment inspection at regular intervals. These inspections require emergency response equipment, temporary structures, operational readings, moving equipment, ladders, and much more. In addition, these inspections ensure that the processes go on efficiently, that there are no communication lapses between various departments, and that full measures are taken to ensure employee safety.
Oil and gas companies need to be wary of leaks and spills as they can cause massive destruction if not controlled on time. Many cases have been reported where employees have got third-degree burns or died due to failure in delivering a quick response.
The pipeline connecting the IT team with the field operations department is a one-way road, meaning it's challenging to send notifications, alerts, messages, updates, or requests back to the IT department from the field. So, field operators rely on manual courier services to send data back to the IT team, which leads to erroneous data.
On the other hand, ERP software facilitates the free sharing of critical business data with all relevant stakeholders, dramatically increasing the speed of notifications and approvals.
ERP system allows oil and gas companies to quickly detect issues and resolve them. For example, it can intercept the message from a field system and forward it to the troubleshooting team for resolution. Thus, the ERP system can set up automated alerts for delayed field activities.
Capacity planning is essential for every industry as it helps estimate the size of the workforce, raw materials required, and equipment needed. For example, ERP for oil and gas companies helps achieve a reasonable forecast, perform complex analysis on historical data, and create automated systems for performing jobs more efficiently and in a fraction of a second.
Typically, the supply lines in the oil & gas industry are too long as they travel from the main headquarters along various booking agents and suppliers to reach the end-user. Thus, companies must maintain excellent relationships with multiple stakeholders to resolve contractual issues that may come up due to the long length of the supply line.
ERP solution maintains the free flow of information between different parties, allowing easy collaboration with various industrial sectors and helps resolve issues quickly and efficiently.
Cyber attacks are rising rapidly. According to the report revealed by Ponemon in 2019, an average data breach causes companies to lose USD 3.92 million. So it's an alarm bell for oil and gas companies for securing their assets from falling into the hands of hackers.
Fortunately, an ERP solution has data security modules pre-loaded with the latest encryption algorithms that protect assets, especially pipelines, from hack attacks and shield the organization against significant losses.
Input is sent from field units to the central unit through a complex pipeline network in the oil and gas industry. As a result, data from different field units must be standardized to be recognizable during the integration process. Sage X3 is the best ERP software for the oil and gas industry because it helps convert proprietary data into a standardized format that stakeholders across the enterprise can analyze.
ERP software should work in tandem with the operational schedules in the Oil & Gas industry. ERP software's maturity level dictates the level of integration between the operational schedules and the ERP. New ERP solutions are better equipped to support these integrations, as they are more specific, narrower, and fully enabled.
The Sage X3 Route Optimizer stores details regarding quantities, delivery addresses, and preferred time windows. You can also capture information about vehicle types, allotted capacities, and driver shift details. This software calculates the most efficient delivery sequences that help deliver within the set deadline. Moreover, you can edit proposed routes and send confirmation to drivers with driving instructions and maps.
Sage X3 is built to maximize your productivity. It helps you reduce total acquisition cost, maintain equipments, and adhere to environmental safety regulations. Sage X3’s Enterprise Asset Management module enables reducing costly downtime and keeps the fleet and equipment in perfect working condition.
Sage X3 offers scalable and comprehensive solutions for development, exploration, and production in the Oil & Gas industry. The best part is that multiple local partners are available globally to help you set up operations. As a result, Sage X3 is a comprehensive suite of applications for all Oil & Gas industry-related operations as it facilitates rapid deployment.
Sage X3 provides standard management rules and a single frame of reference that facilitates a multi-company, multi-legislation, and multi-site structure. It automatically generates purchase flows and inter-company sales that provide a comprehensive view of operations. This software allows Oil & Gas companies to minimize errors in inter-company transactions, increasing profitability and efficiency in the long run.
Sage X3’s data analytics module allows executives, managers, and CXOs to create meaning from data. It also provides a clear picture of all the business activities, including operations, sales, and cost analysis on a single dashboard. In addition, this software offers a comprehensive and unified view by collecting and analyzing data from multiple sources.