Oil & Gas

The speed and accuracy of information that’s delivered from the well site to your company’s headquarters directly impacts your business. Documenting information through written records in the field can waste valuable time and resources. Effectively incorporating digital solutions on the ground allows data to be seamlessly communicated to corporate offices so you can make immediate and informed business decisions based on current data.

Scheduling and tracking crew activity accurately can be difficult as they travel from different well sites and locations in the oil patch. Adapting automated scheduling allows you to plan crew routes and itineraries more effectively and easily adjust plans as obstacles or new developments and opportunities arise. Digitally tracking this information also creates accurate records that can then be transferred to invoices and billing documentation without delay. This can help drastically reduce day sales outstanding (DSO) and improve your cash flow.

Oil prices are in constant flux, so you need real-time financial results as soon as possible. As transactions from the field are entered into your corporate systems, your financial results are updated. If you’re not able to access up-to-date metrics, your decisions might not be based on full, complete, and accurate information. By using real-time financial reporting and cloud-based solution like Oilfield Services ERP, supported by NetSuite, you’ll have immediate access to real-time financial data that will allow you to make the right decisions.

Defining key performance indicators (KPIs) quickly can help determine current and future planning and execution cycles. If your data only comes at the end of the month, you’re likely missing opportunities to shift strategies when needed. With digital and automated information gathering, you can identify KPIs early that help prevent future opportunity costs.