Last year the oilfield services sector took a huge blow when one of BP’s drilling rigs exploded in the Gulf of Mexico. It brought unwanted attention to the industry and to BP, while also devastating the Gulf’ ecosystem and the livelihood of hundreds of fishermen.
Many within the sector had to redirect their drilling efforts elsewhere after a moratorium was issued for the area, leaving industry insiders wondering how long it would take to recover from such a disaster. Well, the consensus seems to be - not that long.
Thanks to rising oil prices and unconventional drilling in North America, the sector is predicted to have growth in 2011 according to IHS, and with any luck, be back up to 2008 levels by 2012. With this growth will come an increase in active rig counts, more drilling programs coming online, more jobs/projects coming in – and a resulting increase in your workforce.
Anytime a company is experiencing high growth, especially after a recession, there are pains associated with it - and that is why it’s important to take a good look at your operations now. Take a look at how your dispatch is handled… does it allow you to see where your equipment is and who’s working on it? Does it allow you to connect payroll and third-party costs associated with specific jobs back to revenue generated from those jobs? Does your accounting program tie in directly to your work orders? Bringing all of this under one umbrella now, can save time, energy, and most importantly money as the sector continues to recover and grow.
Meet FieldVu
FieldVu is a flexible and highly-configurable extension of SAP Business One® that helps make this world-class business software the most powerful ERP solution for oilfield service, manufacturing, distribution and equipment rental companies. FieldVu includes sector-specific functions such as job and unit costing, preventative maintenance, field ticketing, warranties, service/repair, inventory management, equipment tracking and rental management. And because FieldVu is fully integrated into SAP Business One – you can connect all of this critical business data to your accounting, payroll, sales, CRM and other financial and operational data needed to run your business.
