The oil, gas, and mining industry have gained immense popularity due to its contribution in energy production sector. This has increased the economic activities along with the overall growth of all countries. Moreover, the oil prices nowadays govern the prices of all other services and goods globally. The high-cost working and complexity of the oil, gas, and mining industry and the impact of this industry on the sustainability and economy of a country calls for some kind of software that can be included in the business processes. There are different modules under business processes. They may include inventory control and management, research, procurement, distribution, finance, production, human resources, and delivery.
For enhancing the operational efficiency of the oil, gas, and mining industry, businesses are now using ERP software to support the working in real-time. An ERP software plays an essential role to standardize the business procedures in the oil, gas, and mining sector. It is mainly needed because the industry has large units scattered geographically with augmented competition and supply chain demands.
The Needs For An ERP Software in the Oil, Gas, and Mining Industry
Oil, gas, and mining industry is an expensive one. So, an ERP software plays a vital role in the industry to create and enhance the management and production of oil, gas, and mining. Below are some of the main benefits of incorporating an ERP software in this industry.
Easy Incorporation
The oil, gas, and mining ERP software is created to incorporate with the other 3rd party apps when it comes to costs and schedules. This software can help a company manage its resource and financial structure efficiently. Hence, the company is in a better position always to meet deadlines and deliver productively.
Effective Management of Various Projects
The oil, gas, and mining ERP software also lets companies efficiently handle the various aspects of onshore and offshore projects. They may include inter-department communication, product, procurement, project schedules, resources, and finance. Effective project management usually assists companies to finish their work timely and in the decided budget.
Effective Management of Project Risk
Oil, gas, and mining companies that include an ERP software in their operations can recognize the prospective risks associated with a project in advance. Hence, they can predict the project’s success of failure.
Simplify the Complicated Projects
Many joint ventures and international projects are a vital part of this industry. With robust and flexible ERF software, the industry can track the different business details like management of finance, currency exchange, observance of global regulations, and local technical assistance.
ERP Software Must-Have Features For Oil, Gas, and Mining Industry
If you want to create an ERP software, then below is the list of features you should definitely include in it:
Real-Time Assets Control: Assets control is one of the most vital responsibilities of the oil, gas, and mining industry. Its dependencies span many departments, including research and development, operations, refinement, and shipment team. Within such a complicated network, the ERP software should be handle to handle assets control efficiency with no errors.
Production Scheduling: Another vital factor that you should add in your oil, gas and mining ERP solution is scheduling ability for refinement and production. The software should be able to handle the management of schedules for every department, both for single units and high-volume segments. This assists companies to complete projects timely without calendar checks and manual labor.
QA/TQM Processing: With the continuous improvements and enhancements experienced by the modern businesses, monitoring and quality assurance are must, particularly in the oil, gas, and mining industry. Constant improvements are the main goal of every department, including cost management, material handling, supply chain, and R&D. Ensure to ask your software development company to create a ERP solution that helps maintain the specific checkpoints during their research.
User-Friendly UI: Your ERP software efficiency depends on how quickly and easily your users can understand your model and use its functionalities. Ensure to hire asp dot net developers having experience to make your software simple to navigate and less complex.
Regulatory and Compliance Management: The oil, gas, and mining sectors are well-regulated and scrutinized. Hence, it is vital to abide by the regulations decided by the county you work in and the one you will do your business with. Ask the software development company to create an ERP software to keep track of the latest regulations and auto reporting features.
Resource Management: Another important feature of an ERP software for the oil, gas, and mining industry is resource management. It helps to keep a track record of salary, staff details, schedules, responsibilities of every worker, and new hire records.
Data Recovery and Backup: Unlike any commercial ERP solution, the oil, gas, and mining ERP system include lots of data and global schedules that should be kept safely. So, the data recovery and backup feature lets the admin to back up all the data in a safe cloud-based system using safety measures to avoid data leakage and thefts.
Some other features that you can consider to include in an oil, gas, and mining ERP software are:
- Task allotments
- Partner regulations and details
- Inventory management and tracking
- Automated record management
- Risk assessment and training portal
- Chatting features and communication channels
