oil and gas
“By 2025, 70% of IT roles in oil and gas companies will provide or support new digital business services.” Gartner
The oil and gas industry is at the forefront of the challenge of meeting the world's energy needs sustainably and responsibly. The industry needs to develop new ideas and adjust to the changing demands of the 21st century. OG companies must cut greenhouse gas emissions, shift to renewable energy, maintain regulations, and find new sources of oil and gas. These challenges adversely present more significant opportunities for the industry to drive positive change and shape our planet’s energy future.
BUSINESS CHALLENGES
The oil and gas industry plays a significant role in global energy consumption. The oil and gas industry has substantial price fluctuations, which can affect the financial performance of companies. After the pandemic, the industry faced a massive demand and Supply, which led to a price drop in oil and gas. The rapid price change led to the global energy crisis. The oil and gas industry has a complex global supply chain that involves the extraction, transportation, and refining of oil and gas. This can create supply chain management challenges. Many investors started quitting the market in 2022 due to the price swings of the market.
As new technologies and energy sources are established, the competition in oil and gas companies rises. The industry faces increasing competition from alternative energy sources, such as renewables and traditional oil and gas producers. Companies should be highly attentive to the latest market trends and technologies to remain competitive. Extracting and selling oil and gas based on consumer demand becomes a significant challenge and highly competitive for companies. The rise in competition within companies results in a price reduction for consumers. Start-up companies need help to compete with enterprises.
Oil and gas companies must comply with various environmental and safety regulations, which can be costly to implement and enforce. A significant reason for strict rules in this industry is to safeguard the environment and public well-being. Companies can successfully sustain themselves with a clear market plan to face future challenges. Regulations are brought to reduce the risks to the ecosystems, like oil spills caused by oil and gas companies. Such rules decrease the negative impacts the industry has on the environment. Consumers face higher prices due to rising production costs from the regulations.
Oil and gas assets, such as pipelines and offshore platforms, are aging and require significant maintenance and upgrades to remain operational. Equipment used in OG companies for production, extraction, storage, and transportation is susceptible to destruction, such as fissures and corrosion. Such damages can lead to safety and environmental hazards. A significant challenge in the aging infrastructure for OG companies is the equipment failures that can lead to ecological disasters. Companies can resolve this challenge through constant maintenance and renovations that can elevate energy costs and interrupt operations.
The oil and gas industry is subject to various political and economic risks. This includes geopolitical tensions and economic sanctions, impacting operations and investment decisions. The sudden demand for oil and gas increases production in a short period. This paves the way for price changes that result in economic risk. Oil and gas companies resolve such risks by classifying their operations based on geography and products. Adapting to new technologies and staying current with market trends can reduce political and economic risks. Building an optimistic bond with consumers and offering various energy sources can resolve such troubles.
OUR SOLUTION
We offer customized solutions with Process Mining and Hyperautomation to boost the operational excellence of the Oil and Gas (ONG) industry. With our solutions, we streamline processes and identify the process bottlenecks to increase business productivity, customer experience, and operational efficiency.
Process mining
Process mining uses data from a company's digital systems to automatically create process maps and identify bottlenecks and areas for improvement. In the oil and gas industry, process mining provides benefits such as cost reduction, improved process efficiency, etc.
Improve Process Efficiency
Process mining can help oil and gas companies streamline operations and improve efficiency by identifying bottlenecks and inefficiencies.
Augment Data Analytics
Process mining enables companies to analyze data, identify patterns and trends, and use insights to make better decisions and streamline operations.
Reduce Costs
By identifying areas for improvement, process mining can help oil and gas companies reduce costs and increase profit.
Increase Compliance
Process mining identifies non-compliant areas with regulations and standards, allowing them to take corrective action and improve compliance.
Enhance Customer Experience
Process mining identifies process bottlenecks, helping oil and gas companies improve the speed and accuracy of their operations. This leads to better customer experiences.
Hyperautomation
Hyperautomation with RPA and AI improves productivity, reduces costs, and enhances compliance in the oil and gas sector. Enterprise-wide automation moves towards a maturity model, uncovering new opportunities through citizen developers and realizing strategic competitive advantage. In the Oil and Gas industry, hyperautomation improves efficiency and reduces costs by automating repetitive processes. Hyperautomation helps ONG companies enhance operational efficiency and customer experience, reduce manual errors, and increase productivity and cost savings.
Field Operations
Automation assists in check and alert management in field operations. It allows stakeholders and leaders to eliminate repetitive tasks in field operations.
Compliance Regulations
Software robots oversee gas pipeline regulations and digitize Material Test Reports (MTR), ensuring compliance and identifying exceptions through monitoring.
Inventory Management
Hyperautomation automates the tracking and management of inventory levels for products. It generates reports on inventory trends and automatically reorders products when inventory reaches a certain level.
Lease Record Management
Organizations have leases worth billions of dollars, complex legal entities, governance, regulatory bodies, etc. It makes lease record management a complex and time-sensitive task.
Order Processing
Hyperautomation can automate capturing and processing orders from various channels, including e-commerce websites, phone orders, and in-store orders.
Invoice Processing
Hyperautomation can automate capturing and processing of invoices, including matching invoices to purchase orders and verifying pricing and quantity information.
Business Process Transformation Suite
The Process Transformation Suite benefits organizations in understanding, managing, and optimizing business processes. Customized operational cockpits are built using business process transformation, combining real-time data and process management. With the process mining capability, they are monitoring the business processes to achieve operational excellence.
SAP Signavio is a Process Transformation Suite that helps organizations design, optimize, and automate their business processes. In the Oil and Gas (OG) companies, SAP Signavio can improve efficiency, reduce costs, and increase customer satisfaction. Signavio streamlines processes such as order processing, invoice processing, and customer service. SAP Signavio can help oil and gas customers in process designing, improving operational analytics, and enabling process automation.
SAP Signavio provides a visual interface for designing business processes, allowing OG companies to efficiently model and operational processes. It enables OG companies to automate processes using robotic process automation (RPA) and other advanced technologies. SAP Signavio integrates with other SAP products, such as SAP Process Automation.
SAP Signavio offers data and analytics tools that help OG companies analyze their process performance and identify areas for operational improvement. SAP Signavio includes tools for collaboration and communication, allowing OG companies to involve stakeholders. in the process design and optimization process and ensure all relevant parties align on process improvements.
Benefits
Cost Reduction
Enhance Efficiency
Manage Compliance Risk
Optimize Processes
Business Cases
OPERATIONAL ANALYTICS
Oil production companies face challenges related to data collection, which requires more time when manually accomplished. Employees in the operations center spent 25% of their time on data collection and analysis. Signavio offers solutions that help organizations manage tasks and maintain data processing with less manual effort. This benefits the oil and gas companies to overcome the issues on the productivity side.
Benefits
Reduction in Working Capital
Process Visibility
Enhance Operational Efficiency
Improve Production Forecasting
Engage Now.
Scale Disruptive.
Our solution prioritizes critical initiatives to maximize impact. We recommend starting small to witness positive results quickly and scaling up accordingly. Our tools can accelerate the completion of tasks that would typically take years, achieving results in just a matter of weeks. With our solution, you can expect staggering results. However, we caution that stopping once you start may be challenging. The benefits are unparalleled; once you experience them, you'll realize the inefficiencies you were unaware of
Schedule a Discovery Call
Execution Management System
Celonis Execution Management System (EMS) amplifies the performance level for the company to succeed with the available time and resources. Companies experience breakthroughs in execution capacity by involving process analytics, artificial intelligence, and automation. EMS comprises execution instruments, execution applications, a developer studio, and an EMS store to eliminate execution gaps and maximize execution capacity.
The Celonis Execution Management System offers tools, applications, and a platform for business executives and users. The Celonis EMS helps companies manage every facet of execution management, from analytics to strategy and planning, management, actions, and automation. Celonis believes that every company can unlock its total execution capacity. Celonis EMS provides this using process mining and Celonis Studio. It can analyze data from digital systems to help oil and gas companies identify inefficiencies and bottlenecks. This enables them to streamline operations and improve their efficiency. By identifying areas for improvement and reducing costs, Celonis' solutions can help oil and gas companies increase profit.
Celonis help companies identify non-compliant areas with regulations and standards. It allows them to take corrective action and improve compliance. By analyzing large amounts of data, Celonis's solutions can provide valuable insights to help oil and gas companies enhance decision-making.
Celonis's solutions can improve the speed and accuracy of operations for oil and gas companies by optimizing processes and increasing efficiency. This, in turn, can enhance the overall customer experience.
Benefits
20% Increase in FTE Productivity
$1.2M Cost Savings
100% Transparency
360° Visibility
Business Cases
PRICE MISMATCH FINDER
Oil and gas companies have encountered issues concerning improving their process efficiency and maintaining market value. EMS helps in optimizing the compliance and procurement process. The managing team involved in the procurement processes requires process visibility to enhance productivity. EMS aids with its analytics in providing process visualization and identifying the price mismatches in the invoice and purchase order.
Benefits
10% Reduction in Manual Efforts
15% Elimination of Reworks
50% Improvement in Invoice
360° Process Visualization
Engage Now.
Scale Disruptive.
Our solution prioritizes critical initiatives to maximize impact. We recommend starting small to witness positive results quickly and scaling up accordingly. Our tools can accelerate the completion of tasks that would typically take years, achieving results in just a matter of weeks. With our solution, you can expect staggering results. However, we caution that stopping once you start may be challenging. The benefits are unparalleled; once you experience them, you'll realize the inefficiencies you were unaware of
Schedule a Discovery Call
Automation
Hyperautomation is a technology that helps to build, deploy, and manage software bots. Robotic Process Automation (RPA) does the basic automation. RPA makes human activities easier by streamlining workflows that increase the business’ operational efficiency. Intelligent Process Automation (IPA) includes advanced technologies - Artificial Intelligence (AI), Machine Learning, RPA, and Intelligent Document Processing. Conversational AI involves chatbots to instantly connect with the users/customers that improvise the customer experience. IPA extracts and processes data from various sources, such as PDFs and handwritten documents. UiPath’s Document Understanding uses bots to extract data using AI.
UiPath is a robotic process automation (RPA) platform. It helps organizations automate repetitive tasks and processes, improving efficiency and reducing the need for manual labor. In the oil and gas industry, UiPath is used to improve operational efficiency, reduce costs, and enhance reliability and safety.
It is important to note that while UiPath can bring many benefits, it is not a panacea. It should be implemented considering factors such as the potential impacts on employment and the need for maintaining the aging infrastructure.
UiPath's automation solutions can help the oil and gas industry by automating repetitive tasks, which boosts productivity and cuts labor expenses. The technology can also help analyze vast amounts of data, providing insights to optimize operations and improve decision-making.
UiPath's solutions can increase efficiency, reduce costs, and improve decision-making for oil and gas companies. Additionally, UiPath can assist in complying with regulatory standards and enhance the speed and precision of operations. This results in a better client experience.
Benefits
Reduce Operational Costs
Enhance Performance
Improve Compliance
Augment Operational Efficiency
Engage Now.
Scale Disruptive.
Our solution prioritizes critical initiatives to maximize impact. We recommend starting small to witness positive results quickly and scaling up accordingly. Our tools can accelerate the completion of tasks that would typically take years, achieving results in just a matter of weeks. With our solution, you can expect staggering results. However, we caution that stopping once you start may be challenging. The benefits are unparalleled; once you experience them, you'll realize the inefficiencies you were unaware of
Schedule a Discovery Call