For some companies, it’s that big project they could’ve won, but didn’t. For others, it’s that stack of customer invoices that never seem to get out the door. It could be when a project comes to a stop because labor certifications have lapsed.
To Jory Lamb, all these could be signs that an oil and gas service company can’t go any further with manual record-keeping or mix-and-match computer systems.
“It’s amazing how long some companies get by with a really basic system,” says Lamb, President of VistaVu Solutions. “A company could have $10 million in revenue, but it’s still keeping track of its equipment with a whiteboard. Companies may have $20 million in sales but still run the show with a simple spreadsheet.”
As a company grows, however, the closer it comes to needing something much better. At a certain stage, manual systems and spreadsheets start to cost you time, money and reputation with your customers.
The key issue, as Lamb sees it, is that these tools aren’t scalable. They may work well enough for a company with a few employees and a small yard full of equipment. These tools can’t, however, grow as your company grows.
“If you have a single system that allows you to manage your entire business from one platform, it works the same for a $200 million company as for a $20 million company,” says Lamb. “Very importantly, over time, your initial cost becomes smaller relative to the size of your growing company.”
There’s no alarm bell that goes off the moment a company hits a systems tipping point. Many companies soldier on with basic systems years past the point when it’s costing them money. In Lamb’s view, this moment of truth is all about the company’s prospects.
“It’s a question of a company’s growing maturity and confidence in the future,” he says. “They know they’ll be in business for the long haul, and they decide it’s time to do things right and keep more of what they make. That’s the moment they talk to VistaVu.”
