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Oil and Gas Field Services Companies:
Multinational Oil Services company improves equipment utilization and streamlines accounting.
Improvements were made in multiple areas throughout the company including:
Equipment asset utilization
- Quick visibility of location of all assets in the field
- Visibility of profitability of each asset
- Billing for equipment usage in field
- Automated depreciation calculations for vehicles, equipment, and other fixed assets
Equipment maintenance
- Assures maintenance is performed before certain assets are returned to the field
- Tracks scheduled maintenance – by usage or time period
Consolidated “islands of data” into a single solution
- Replaced multiple spreadsheets, databases & accounting system, with a single operational and accounting solution for oil and gas
- Provided complete accounting with real time financial reporting
Oil and Gas Production Services company realizes cash flow benefits from electronic capture of field tickets and transfer to accounting / billing system:
- Reduced days lapsed from field work to customer invoice: 90%
- Reduced staff at head office no longer needed to re-key field data: 70%
Oil Field Services company improves visibility of crew performance and project profitability
Project costing and billing
- Improved visibility of profitability by contract or job
- Project variances can now be easily spotted and analyzed in unlimited categories including time, materials, subcontract, safety/health/environmental, etc.
- Time to invoice has been reduced and accuracy has been increased
Crew availability, safety, dispatch
- Enabled easy dispatching of crews and equipment to the field
- Supervisors can now quickly see availability, capacity and utilization of each person
- Personnel can be easily selected based upon skills, safety certs., proximity, etc.
- Automated tracking for expirations of safety certs, passports, & insurance records
- Safety compliance documents can now be attached to personnel, job, equipment, customer, subcontractor, and vendor records
Automated payroll calculations, processing, and direct deposit – saving hundreds of hours
Accounting – implementation includes full accounting functionality
Wireline Services company realizes substantial cash flow benefits from electronic field ticket transfer to accounting / billing system:
- Reduced days lapsed from field work to customer invoice: 86%
- Reduced invoice error rate: from 20% to 2%
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