Realising successful Oil & Gas Digital Transformation: What makes IFS the best fit?

The challenge

Finance leaders and operational managers in the oil & gas sector tend to have complex and often competing priorities to juggle. These include the following:

• Continuity of supply. While security of supply is not a new concern, the war in Ukraine has pushed it to the top of the political agenda. In the current climate, an unplanned major outage is as much a political issue as an operational one.
• Cost reduction. In areas such as asset maintenance, this includes optimising inventories of spares and equipment, along with reduction of procurement and shipping costs.
• Alongside any initiatives in play to improve the efficiency of offshore operations, the highest standards for safety and environmental management need to be maintained.

The solution

The IFS cloud-based ERP solution comes with precisely the capabilities planners and operational managers need to meet the challenges associated with the management of offshore assets.

For instance, in the context of maintenance, robust ‘spares & repairs’ inventory functionality makes it possible to plan with accuracy for long lead times in custom fabrication, as well as transport order management.

More accurate resource planning provides greater scope for optimising inventories, lower levels of redundancy, healthier cash flow – as well as the possibility of greater leeway for negotiating lower equipment costs.

On the operational side, it can also mean reduced unplanned downtime and fewer delays due to equipment unavailability.

The challenge

Effective planning requires sight of the whole picture. This, however, is often easier said than done: particularly for an enterprise that comprises multiple assets in dispersed locations, and with production flows that span numerous drilling contractors, vessel owners and a multitude of other supply chain partnerships.

The solution

IFS enables you to break down the data silos that can emerge across scattered operational sites. In their place, you can have one version of the truth, and one set of numbers for the entire organisation.

For finance leaders, the solution can help deliver total real time visibility of the global business, including finance, project and asset management, as well as insights on performance across the entire on and off-shore supply chain.

The challenge

Collating transactional information from across the enterprise can be a challenge for any finance department. This is especially true for the case of the oil & gas sector – particularly when it comes to the reliable transmission of key financial information from isolated offshore units to onshore locations.

The solution

With experience of meeting the needs of the energy sector since the software’s inception, IFS is well aware of the challenges surrounding the management of scattered assets. Customers get the benefit of IFS Instant Replication as standard. This uses satellite technology to ensure that offshore operations always have system support – even in areas where communication links are poor.

On the other side, IFS Instant Replication also means that your onshore finance hub can always have access to current information on the status of each offshore asset: everything from serviceability and maintenance inventory on hand, through to data on that asset’s performance and contribution to cost and revenue.

The challenge

Collating transactional information from across the enterprise can be a challenge for any finance department. This is especially true for the case of the oil & gas sector – particularly when it comes to the reliable transmission of key financial information from isolated offshore units to onshore locations.

The solution

With experience of meeting the needs of the energy sector since the software’s inception, IFS is well aware of the challenges surrounding the management of scattered assets. Customers get the benefit of IFS Instant Replication as standard. This uses satellite technology to ensure that offshore operations always have system support – even in areas where communication links are poor.

On the other side, IFS Instant Replication also means that your onshore finance hub can always have access to current information on the status of each offshore asset: everything from serviceability and maintenance inventory on hand, through to data on that asset’s performance and contribution to cost and revenue.

The challenge

Especially when under intense pressure to lower overheads, agility is key when it comes to project management. When a viable new opportunity has been identified, rarely is it a case of being able to follow a cookie-cutter workflow. Success depends on the analysis of multiple unique dependencies, along with the ability to track cost, risk and timings in real-time.

Furthermore, problems can arise when organisations have discrete technologies in play for project management and asset management – particularly when it comes to questions over which projects to prioritise in the allocation of limited enterprise resources.

The solution

IFS offers organisations a truly integrated view of performance, with tools that include both project management and asset management via a single platform. This provides for greater visibility, more efficient risk management, and helps ensure resources are allocated and reallocated to deliver the greatest possible value.