How SAP for Oil & Gas Industry Helps You Meet Challenges
The Oil & Gas (O&G) sector is one of the biggest contributor in the country’s GDP. It thrives amid many challenges and regulatory pressure. As an owner of an O&G company, you face these challenges and intense competition also. Here, SAP for oil and gas lends a helping hand. In this article, we are going to see the top features and benefits of a SAP solution for oil and gas sector.
SAP for oil, gas, and energy (OG&E) industry can help your company to get an edge over competitors while paving the way toward a sustainable future of renewable energy. You can reduce operational costs from your existing business and grab new business opportunities with SAP oil and gas solutions.
Solutions for the oil and gas industry from SAP Business One
Out of several solutions available from SAP, we will mention two major ERP software solutions for oil and gas industry.
SAP S/4HANA Cloud for Oil and Gas
This cloud-based ERP solution is useful for hydrocarbon accounting and management. It can increase upstream productivity and enhance asset usage by unifying production processes. SAP S/4HANA Cloud can work wonders across engineering, planning, and asset management departments of your oil and gas industry.
SAP S/4HANA Oil & Gas
Useful for hydrocarbon management, this solution can provide accurate inventory information in real-time. You can get better visibility into your business and make insightful decisions efficiently with the help of SAP S/4HANA oil & gas solution.
Top Features of SAP for Oil & Gas Industry
SAP for oil and gas industry has many features that can benefit the industry in multiple ways. Some of its top features are-
SAP ERP solution is designed to monitor functioning of various equipment on a 24x7 basis. It is essential for reducing maintenance and repair costs significantly.
SAP Business One and other SAP ERP software offers a functionality to manage procurement based on available stock in the warehouse. It brings continuity in the process.
As an integrated software solution, SAP for oil and gas offers a single platform for handling multiple processes.It does not require technical knowledge to access the important information.
It facilitates the oil and gas industry to handle raw materials effectively and manage production planning accordingly. It also tracks stock reconciliation for ensuring more efficiency.
Budgeting and Planning
It enables users to make a budget as per the estimated production plan and assists you to maintain quality to add value to your oil and gas company.
Oil and Gas Industry Benefits from SAP Business One India
A range of ERP solutions including SAP Business One and SAP S/4HANA for oil and gas industry have many benefits to offer for this thriving industry. Some of these benefits are-+
- You can improve information processing and avoid data redundancy
- It is easy to analyze the production and purchase for ensuring seamless production
- You can get real-time visibility of materials and finished products
- It enables you to make insightful decisions, schedules, and proper planning
- You can get the benefit of stock localization process and comprehensive reports
Big Challenges faced by the Oil & Gas Industry
The oil and gas industry is facing a number of business challenges due to stringent regulations and environment-related controls. Some of these challenges include:
The oil and gas industry is cyclical, and prices can fluctuate rapidly and wildly. This makes it difficult for O&G companies to plan for the future and adapt to changing market conditions.
Difficulty in Maintenance
The oil and gas industry is capital-intensive, and many companies have aging assets that need regular maintenance or upgradation. It can be a pricey and time-intensive process.
The O&G industry is facing increasing competition from other energy sources. At times, companies face troubles in accessing data that results in slow responses to situations.
The oil and gas industry is a risky business and companies face a number of risks, such as price volatility, political instability, and environmental damage.
Many oil and gas companies have hidden capacity, which means that they are not using all of their assets to their full potential. This can lead to inefficiencies and loss of profits.
Many companies do not have good documentation of their complex business processes. This can make it difficult to train new employees, troubleshoot problems, and make changes.
These are just some of the topmost challenges that the O&G industry is facing. SAP for oil & gas industry enables oil companies to address these challenges and gain success in the future.
SAP for Oil & Gas industry solution for you Business
Why your Oil & Gas business needs SAP HANA solution?
As per the recent report, the global energy demand is expected to increase by 50% in 2030. The oil and gas sector will play a major role in addressing this surge. SAP S/4HANA Cloud for oil and gas can provide oil and gas companies with robust solutions for reserve replacement, productivity, asset effectiveness, carbon footprint, and changes in global energy policy.
With over 20 years of industry expertise and serving more than 700 oil & gas companies, SAP rules the sector with its efficient solution. SAP S/4HANA is useful for increasing operational efficiencies and ROCE. You can deal with the energy supply setbacks by optimizing asset management. Better insights and more visibility can enable you to handle daily processes and safety measures more effectively.
SAP Silver Touch is a renowned company to get SAP ERP solution in India. We build custom SAP Business One add-ons and ensure that your company can get the top-notch solution. As an official SAP Partner, we assist your enterprise to transform business processes cost-efficiently. Do you want to know more about SAP solutions or add-ons? Simply send us an email at firstname.lastname@example.org and avail free consultation.
FAQs About SAP for Oil & Gas industry
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