In a complex, competitive and fast-paced industry such as oil & gas, managing data and processes effectively presents a plethora of challenges. Combined with the elaborate operational dynamics, financial processes and regulatory pressure, the O&G industry faces considerable downtime impacting their ability to deliver on time.
Having the ideal system in place to capture crucial data, ensure accurate reporting and streamline operations is imperative. In such a scenario, a robust Enterprise Resource Planning (ERP) system such as SAP Business One is one of the best systems for operational efficiency and profitability.
Why the Oil & Gas Industry Needs ERP
An ERP software like SAP Business One helps oil & gas industry brings together all the key functional areas of the business at one place. It handles all the key functions such as finance, marketing, sales, HR, and logistics from a central platform, thus saving a lot of time and money while increasing business agility, productivity and efficiency.
Benefits of SAP Business One
SAP Business One is a complete ERP and business management system for SMEs and subsidiaries of large companies. Right after deployment and implementation the measurable benefits of SAP Business One as integrated ERP application can be observed.
The major benefits of this application include:
- Streamlining operations which leads to targeted business growth
- Faster response times to customer queries and complaints that translates into better customer retention and improved customer satisfaction
- Elimination of redundant tasks and manual data entry errors
- Cost-efficiency in technology deployment and implementation
- Improved supply chain management
- Better relationships with customers, vendors, employees and key stakeholders
How SAP Business One Helps the O&G Industry
SAP Business One helps the oil and gas industry in multiple ways, some of the key benefits are:
Improved project planning – It helps improve project and capacity planning at the department and organization level.
Accuracy in costing – SAP Business One ensures accurate costing by providing an accurate picture of margins, material and labor, as well as helps compare planned budgets with actual ones.
Efficient dispatch tracking – It helps track oil and gas equipment in transit, idle state, or when placed in a specific job site.
Proper rental management – With this ERP, businesses can manage all their rental transactions in one window, whether it’s the movement of equipment, scheduling, or billing rates and cycles.
Integration of functions – This ERP can integrate seamlessly with the accounting and finance departments across different verticals to ensure easy sales and cash reconciliations for various locations, as per city or fuel station.
Timely checks and repairs – The tool monitoring features of SAP Business One for the oil and gas industry ensure timely tracking of status, alerts, checks, maintenance and repair. It also allows users to monitor DG set status, fuels and transmitter flows.
Also one of the real advantages of SAP Business One as an ERP is its swift implementation and easy training features. With minimal training employees can handle the system themselves thereby eliminating resistance, and saving downtime and costs.
Today’s oil & gas companies are exploring newer ways to streamline their operations and increase their speed to market. Production environments are getting complex and access to real time data and analytics is becoming increasingly critical. As O&G companies look for a solution to these emerging needs, SAP Business One offers the best solution as a robust and effective ERP system.
See how SAP Business One for Oil and Gas can future-proof your business with reliable and proven solutions to meet the comprehensive needs of your business.