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Oilfield Services Industry

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 Accounting and operations software to manage your oilfield services company.

Oilfield service companies provide numerous support services which are critical to the upstream segment of the oil and gas industry. Production companies hire them to do everything from site construction, fabrication and/or rental of specialized equipment, technical services, fluid transport, and more.  The market for oilfield company’s services continues to grow and become more competitive.

Compete better and act faster with state-of-the-art CBSi ofsERP® software powered by Microsoft, made for the oilfield services industry. 

 
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Adopting technology increases your competitive advantage

Some OFS firms are hesitant to take on a technology project to improve business efficiencies.  While their competition embraces technology to increase efficiencies, speed service, lower their cost of labor, increase conversion of A/R to cash, reduce equipment loss, and respond quickly to changes in key business performance indicators - they wait. This hesitation causes them to fall behind and the potential risk of lost customers and talent attrition becomes a reality.

Oilfield services challenges

Disconnected, manual processes lead to cascading problems

The complexities of the industry have caused typical oilfield service companies to deploy multiple independent systems and processes (see list on the right). This results in workflow inefficiencies, mistakes, and more labor costs to handle the duplicate entry or report on the busines performance. These problems began to erode the bottom line even before the collapse in prices and continues to do so today.

Further compounding these challenges are the complexities of changing external regulatory and customer requirements. Operators impose their own unique requirements for field ticket and invoice documentation often resulting in still higher admin costs and manual entry into spreadsheets and other silos of data. 

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Tracking supplies, tools, and equipment

If you can’t locate your equipment, rentals, supplies, and tools, your crew can be overburdened and forced to scramble. And without full visibility of your inventory and equipment locations, your team may be challenged to keep up with customer demand. A robust integrated software solution is the best way to protect your margins – You can avoid unexpected delays, lost tools, and keep on top of operations.

Fragmented workflows clog up your productivity

For Oilfield services companies, process is number one – and everything should happen in a prescribed order. If financial management, invoicing, field operations and expenses are disconnected from operations, you’re stuck entering tickets manually, resulting in many mistakes, delayed billing and additional clerical labor. The toll on the staff who are busy trying to reconcile silos of information is significant. And routine approvals of billing tickets become a major effort.  

 

The fallback solution has been to enter information into a spreadsheet, one that is not connected to anything. It’s easy to make errors, and hard to keep track of which version of the spreadsheet is the latest. Delays in billing your customers means your cashflow suffers; if you don’t know about an issue until a month goes by, it causes more work for your team. And field tickets that are not discovered until a month later often cannot be billed. 

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Overcome oilfield services challenges with ofsERP from CBSi

We thoughtfully designed a solution to streamline your work when we developed the ofsERP software powered by Microsoft. 

  • It’s intuitive and easy to use – no technical knowledge needed

  • Finance is fully integrated with operations 

  • 360 real-time visibility for faster informed decisions to take control of operations

  • Cradle to grave tracking of all inventory and equipment

  • Fully mobile – stay connected anywhere, anytime

CBSi professionals have the know-how to boost efficiency for OFS operations

Many of our long-time employees have hands-on experience solving the daunting issues you face. We understand the industry and bring years of know-how to improve processes, gain control of inventory, and bill and collect tickets faster. We’ll suggest best practices to improve efficiencies and help you compete better in a fierce market. 

Our people are masters at solving business issues with automation. If you are feeling the sting of disconnected systems, manual processes and the inevitable chaos it brings, we’d love to show you a better way. 

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