Invest in Oil & Gas Accounting Software that Scales With Your Growth
When looking for new oil and gas software, select a program that will scale with your company. Here is a short list of characteristics that show software programs will decrease with the growth of your company. The number of businesses during that time decreased by 2.1 percent and the number of employees fell three percent, said Ibisworld.
Flexible programs with many options and features allow you to handle many different situations. Rigid programs limit data entries, processing, and correction. This limitation will force you to change your process or handle special situations outside the program.
If this program offers an optional module, they allow you to add additional features needed when you grow.
Select the software that can be installed on the server and workstation. You also want a solid security process that allows many users with access to designated areas of the software needed.
A growing company often adds new employees, which generates the need for additional computers with access to distribution.
New employees need to be brought up quickly to run distribution. Select software that offers various platforms for training and support.
General video tutorial provides an overview of the program.
Helping files and manuals allow new users to dig into certain features.
Live Web Training provides one on one discussion with an expert guiding Trainee through the setup process.
Training in place is helpful when a group is trained, but often expensive and not as effective as some web live training.
A knowledgeable support desk allows you to quickly complete questions or problems that appear.
Find software that provides most of these tools for smooth transitions because new employees are added.
Unique offers in the oil and gas industry create challenges that have never been dreamed of software or software processes. Some software companies are willing to make special processes and reports for your company.
Willingness to work with users and make a custom process will convince you that you will be able to overcome every new challenge that appears.
The advanced reporting module gives you the ability to make your own report is also the main feature for growing companies.
Accelerate Switching Oil & Gas Accounting Software
SWITCHING To OIL & GAS ACCOUNTING Software is difficult. One difficult reason is because of how it is needed to transfer and train your office on a new system. It doesn’t have to be like this!
Here are 5 tips to help speed up the switch:
Come with a plan for execution about what you need to do. It’s much easier to switch from your current oil & gas accounting software to a new system if you know the steps you need to do. Having deadlines for each step also helps move the project faster. Part of this plan must also spell who is responsible for each action item. The Houston Chronicle article, “Oil field service company faces other Tough slogs,” describing my strait. He reported, “Energy service company faces a difficult slog because they recover from a deep decline in industrial
Plan transition during down-time accounting. You need your accounting system every day but there are times during the month you cannot do with it. These times are when you need to process the distribution of income or billing joint billing. Planning to run the software switch at the latest accounting time between the processing cycle. This will make the transition less stressed and help make it run more smoothly.
Determine the best cut time for your current data converted to a new accounting system. The best time to convert is when you don’t have many open items roaming. This is usually right after the distribution processing cycle before you start entering data for the next cycle.
Schedule training with support team to help your team the information they need when they need it. You need to study the new oil & gas accounting system and you need to learn it quickly. We have developed a training program that works for you and is included with the purchase of your software. This training is broken down into the pieces of “the size of a bite” that gives you the information you need and help you digest it. You work with your data during training that helps create a “real” procedure.
Confident that you get the correct information from the new accounting system. The best way to do this is to run parallel income distribution or shared interest bills. Ideally you will have a small run that you can do on both systems that lets you compare numbers. After you see that you get the right results, you can advance with confidence.
How IOT has benefited the oil and gas industry
The oil and gas industry is not necessarily fast to adopt digital technology and data in the past. But as a profit margin narrowed, there had been a greater internal urge to spread iot devices. This is how to use low power sensors and edge computing has increased visibility and efficiency:
Equipment management and maintenance predictions.
Remembering complex operations, oil and gas companies have a lot of critical and expensive equipment – in the game. Insights Real-time data can determine how equipment is used, ensuring that resources are allocated efficiently. If there is an unexpected gap in the available machine, a plan can be stopped. Overall, using sensors to track the current location and the use of resources provides very necessary visibility.
Maybe even more critical, better data can support a more appropriate approach to diagnostics and repairs. Cheaper to maintain equipment based on predictive steps – cracks cheaper than total breaks. Prevent downtime to pay off quickly. For example, Texas operators found that a pump that failed was worth $ 3 million a month. By using IoT sensors to monitor pump conditions, these costs can be easily mitigated. At the same time, the sensor can also assure you when the equipment runs well, helps you avoid swapping unnecessary parts or make expensive improvements too far before.
Real-time, remote monitoring and tracking.
Other key capabilities of IoT devices that specifically benefit the oil and gas industry are remote monitoring. The company has begun to take advantage of this ability to manage operations in various environmentally accessible environments and low connectivity, such as offshore rigs and cargo ships.
At present, many facilities have a real time sensor that tracks problems such as tank levels, pressure, and flow rate, allowing faster troubleshooting. The advantage of the remote IoT device in particular is that you can simultaneously monitor many assets, without increasing manual workforce. Operational efficiency rises without requiring talent that is more difficult to find. What’s more, it has a real-time overview of all these data – along with automatic warnings on the main changes – enabling companies to mark the relationship between incidents and doing more effective forecasting analysis.
Safety and environmental risk reduction.
Oil and gas companies spend a lot of money and risk management efforts, and for good reasons – the list of safety and environmental risks associated with production is sobering. But using IoT sensors to track equipment conditions can also benefit the company when it comes to reducing risk, preventing injury, and reducing company responsibilities.
Many human security problems – such as explosions, fires, and machine hazards – have the potential to be avoided with greater insight into current equipment conditions. The right data IOT can signal signals that it is too dangerous to enter certain areas. And the ability to track certain processes is more accurate, such as deep drilling, can help avoid situations that lead to human injuries. If you have real-time data about drilling errors, for example, you can stop production before causing incidents.
Likewise, accidents from pipe leaks to oil spills can cause a large penalty and significant reputation damage. Smart companies invest in proactive monitoring through IOT software development services, replacing intermittent manual inspection on pipelines, pumps, and filters with more efficient and more accurate automatic checks.