ERP Systems Fuel the Oil and Gas Industry

While the use of enterprise resource planning (ERP) in the oil and gas industry has been around for a while, it is estimated that only 30% of the industry has fully leveraged ERP throughout its entire organization. For that small percentage of oil and gas companies, ERP systems have been used to overcome price volatility and supply chain disruptions, mitigate the impact of rising factor costs and talent shortages, and make progress toward the goal of net zero emissions by 2050. 

ERP software can help you solve key business challenges when deployed across necessary departments of your oil and gas company. Whether you are upstream, midstream, or downstream, there are several ways ERP software can help.

Read our latest oil and gas ERP whitepaper:

Statistically, 75% of ERP implementations fail to reach full-scale deployment in the oil and gas industry. In our whitepaper, we discuss five strategies to help you fully leverage the benefits of enterprise resource planning to remain competitive and relevant in this market.

The benefits of enterprise resource planning in the oil and gas industry.

Improved Cost Controls and Financial Management

Real-time Access to Supply Chain and Production Levels

Managing Rising Factor Costs and Talent Shortages

Mitigating Risks and Maintaining Regulatory Compliance

Improved Inventory and Asset Management

Progress Toward Reduced Carbon Emission Goals

Improved Cost Controls and Financial Management

Real-time Access to Supply Chain and Production Levels

Managing Rising Factor Costs and Talent Shortages

Mitigating Risks and Maintaining Regulatory Compliance

Improved Inventory and Asset Management

Progress Toward Reduced Carbon Emission Goals

How to Choose the Right ERP for Your Oil and Gas Company

Not all ERP software is created equally, and choosing the right one is mission-critical to a successful digital transformation. In addition, each industry sector has specific needs, but for your digital transformation to be successful, look for these critical criteria in an oil and gas ERP system. 

When choosing your next ERP system here’s some criteria to keep in mind

Flexibility

Most ERP software will fulfill your financial management requirements, but make sure the systems you're considering offer the modules you'll need to meet your business's specific needs and can scale at the rate you need to achieve your growth goals.

Ease of use

Organizational change can be challenging, so we've provided strategies to help improve the adoption of your ERP system in our whitepaper "ERP Solutions to Oil & Gas Industry Challenges." But a key element to successful ERP implementation is an intuitive interface that is easy to navigate for administrators and end users.

Integration

The ERP system should integrate seamlessly with your existing IT infrastructure for maximum productivity gains.

Support

Be sure the ERP system you choose offers support that aligns with your organization's culture and operating schedule.

Why NetSuite is a Top Choice for Oil and Gas ERP

The best ERP solution for your oil and gas company will depend on various factors, including your industry sector, the complexity of your operations, and your budget. However, there are a lot of benefits to choosing NetSuite. 

Cost Management and Control

NetSuite for oil and gas allows you to automate financial processes and provides a comprehensive view of your business’s financials at any given moment, improving financial management and helping control costs. 

Supply Chain Management

With NetSuite, oil and gas companies can gain real- or near-time visibility into all parts of the supply chain. With this data, your managers can adjust operations accordingly to minimize shortages and prevent production stoppages.  

Reliable Customer Service

NetSuite CRM helps oil and gas companies manage their prospects, customers, and suppliers, automate the sales process and increase sales productivity.

Financial Management and Cost Control.

NetSuite for oil and gas allows you to automate financial processes and provides a comprehensive view of your business’s financials at any given moment, improving financial management and helping control costs. 

Supply Chain Management

With NetSuite, oil and gas companies can gain real- or near-time visibility into all parts of the supply chain. With this data, your managers can adjust operations accordingly to minimize shortages and prevent production stoppages.  

Customer Service

NetSuite CRM helps oil and gas companies manage their prospects, customers, and suppliers, automate the sales process and increase sales productivity.

Asset Management

NetSuite improves productivity for oil and gas companies by reducing downtime and improving system reliability, automating prescriptive maintenance, and using intelligent planning based on condition assessment, risk profiles, and failure analysis.

Workforce Management

Oil and gas companies use NetSuite to automate repetitive tasks and gain operational efficiencies through resource allocation and scheduling, incorporate safety procedures into all operations, and increase productivity and employee engagement to improve hiring and workforce development. 

Quality Control and Assurance

NetSuite can help oil and gas companies detect issues for quicker resolution with built-in process controls that help you adhere to regulatory quality control measures. 

Natural Resource Management

Because of the quality of data and reporting, NetSuite improves forecasting and inventory management accuracy, minimizing waste and optimizing production.

Production Scheduling

NetSuite will give you insights into all aspects of your business, regardless of location, through customized dashboards so you can monitor your operations from anywhere. You’ll be able to track and monitor labor and production against daily targets and improve productivity.

Regulatory compliance

NetSuite can notify you of changes in regulations, help you implement risk assessments to meet regulatory requirements, facilitate personnel training through evaluations and certifications, achieve desired safety outcomes, and ensure compliance with sustainability regulations.

Intelligent Asset Management

NetSuite improves productivity for oil and gas companies by reducing downtime and improving system reliability, automating prescriptive maintenance, and using intelligent planning based on condition assessment, risk profiles, and failure analysis.

Workforce Management

Oil and gas companies use NetSuite to automate repetitive tasks and gain operational efficiencies through resource allocation and scheduling, incorporate safety procedures into all operations, and increase productivity and employee engagement to improve hiring and workforce development. 

Quality Control and Assurance

NetSuite can help oil and gas companies detect issues for quicker resolution with built-in process controls that help you adhere to regulatory quality control measures. 

Natural Resource Management

Because of the quality of data and reporting, NetSuite improves forecasting and inventory management accuracy, minimizing waste and optimizing production.

Production Scheduling

NetSuite will give you insights into all aspects of your business, regardless of location, through customized dashboards so you can monitor your operations from anywhere. You’ll be able to track and monitor labor and production against daily targets and improve productivity.

Regulatory compliance

NetSuite can notify you of changes in regulations, help you implement risk assessments to meet regulatory requirements, facilitate personnel training through evaluations and certifications, achieve desired safety outcomes, and ensure compliance with sustainability regulations.

Zero Point Oil and Gas ERP Implementation

Whether you’re in the process of selecting the most suitable ERP system for your oil and gas company, migrating from a legacy system, or needing a NetSuite rescue, Zero Point can help. We have the skills and knowledge to help your oil and gas company improve efficiency, cut costs and reduce carbon emissions through digital transformation. Our oil and gas ERP services include ERP selection, project rescue, implementation, integration, app development, and technical support.