Top 10 Oil and Gas Software Solutions for Accelerated Business Growth
Over the past many years, the oil and gas industry played catch-up with e-commerce, banking, and healthcare sector when it comes to embracing digitization and advanced technology solutions to boost business efficiency and profits.
But, the situation is changing now. Many companies are now implementing oil and gas software solutions in their upstream and downstream operations to cut costs and streamline operations. Some of the largest oil and gas companies across the globe now leverage advanced technologies like data analytics, cloud computing, digital twins, robotics, Artificial Intelligence, and predictive maintenance to foster innovation in their business practices.
According to the Accenture2019 survey, 97% of the upstream and 91% of the downstream executives from the oil and gas sector agreed that technology has fast paced the speed of innovation in their business in the past three years.
In such times, its vital oil sector companies implement modern technology solutions in their business to join the digital revolution.
Here are some of the best oil and gas software solutions that businesses can implement to automated and streamline their company operations:
Oil and Gas Downstream Management Software Solutions
Downstream Oil and Gas Software
Downstream oil and gas production software refers to an integrated system that manages downstream activities such as customer management, transport management, contract & deal management, etc. for oil and gas companies. Having such software in place ensures faster deployment and collaboration across your oil plant. Using a cloud-based app or software for downstream operations also helps you enhance the overall customer experience by increasing transparency across the acquisition-to-distribution lifecycle.
Key Functions of an Integrated Downstream Oil and Gas Management System
- Contract management
- Customer and deal management
- Acquisition and supply chain management
- Transportation management
- Reporting and Analytics
Refinery Scheduling Software
A refinery scheduling software in oil and gas businesses manage multiple operational activities like dock scheduling, product blending, product distribution, and delivery of final products. By using custom software, you can reduce the costs associated with refinery scheduling to a large extent. It also improves your responsiveness and decision-making ability by allowing you to schedule all key refinery tasks from a single platform.
Key Benefits of Refinery Scheduling Software
- Optimal refinery planning
- Faster simulation
- Automated workflow
- 24/7 Support for balancing and threading
Oil And Gas Retail Management System
A retail management system in oil and gas operations automates payment processing and sales tasks. Such solutions boost the profitability of fuel retailers by improving their payment processing tasks. Having such software also protects your revenue from inventory loss or prevents downtime due to absence of a solid retail management solution. Having a faster payment experience also results in higher customer satisfaction with your services.
Key Benefits of Oil and Gas Retail Management System
- Improved Customer Experience
- Cost-effective operations
- Superior Fuel inventory management
- Seamless Integration with different payment options
- POS technical support
Oil and Gas Analytics Software
To lower operation and maintenance costs, the use of analytics software is a must for oil and gas companies. Analytics can be pretty useful in predictive maintenance, forecasting, analysis, and risk management and energy trading activities. From upstream to downstream oil and gas operations- predictive analysis can be applied by using custom software.
Oil and Gas Midstream Management Software Solutions
Midstream Oil And Gas Software
Oil and gas software for midstream activities manages the pipeline, marine & service, and supply chain operations. Apparently, the raw oil & gas material is transported to processing centers, and from there to end-users with the assistance of tanker, barge, pipeline truck, and/or by rail. A midstream oil and gas software streamline store, transportation, and pipeline activities to connect the producers to markets.
Key benefits of Integrated Midstream oil and gas software
- Streamlined Business Operations
- Improved Customer Experience
- Effective Operations Management
- Improved Gas And liquid management
- Cost Savings
Oil And Gas Transportation Management System
A oil and gas transportation management software streamlines the logistics operations, from dispatching, route optimization to product delivery. Such software integrates with advanced IoT devices, GPS, and other navigation tools for shipment and cargo tracking. It also provides in-depth analytics or reports for improving logistics network performance. For example, you can use a TMS tool to plan, optimize, or change the fuel shipment route if any transportation issues arise. You can use such tools for pipeline operations, LN, crude management, and much more.
Key Features of Oil and Gas Transportation Software
- Pipeline Management
- LNG management
- Crude Transportation
- Travel Analytics and Reports
- Customer Management
Pipeline Performance Tracking System (PPTS)
PPTS is a useful tool for the oil and pipeline businesses to ensure compliance with the industry’s environmental and safety standards. By using this software, companies can track and analyze the performance of their pipeline in real-time. This tool offers insights into areas of environmental stability, pressure & metering, remediation, and more. You can receive condition-based alerts or notifications when using cloud-based software.
Oil and Gas Accounting Software
Oil and gas accounting software is a software system that records, tracks, and manages financial transactions of businesses. It helps oil and gas companies achieve greater value from their complex assets. Tracking complex contracts, owner lease agreements, and capital expenditures become easier when you have such software installed in your workplace.
Depending upon your needs, you can choose from a variety of accounting tools like:
- Financial reporting software
- Fixed asset accounting software
Oil and Gas Downstream Production Solutions
Oil and Gas Contract Management Software
Oil and gas contract management software manages the entire contract lifecycle and ensures compliance with EHS and EPA standards for oil and gas companies. Non-compliance to Environment, Health and Safety (EHS), and Environmental Protection Agency (EPA) regulations result in heavy financial penalties for oil & gas businesses. So, having such software is essential for you, as an oil and gas business owner, to upgrade contract management practices and avoid any legal worries.
Key benefits of this tool include increased visibility into contract clauses, seamless tracking of contract data, standardized contract creation workflows, and 24/7 access of contracts from cloud computing consulting services.
Key Features of Oil and Gas Contract Management Software
Oil and Gas Land Management Software
Land management is a crucial aspect of the upstream value chain for oil and gas businesses. This is because every exploration and product organization activity is dependent on it. When done properly, companies can grow faster and outpace the competition. Leveraging an oil and gas land management software is the best way to streamline lease acquisition, interactive mapping, data analysis, and recommendation tasks for oil and gas companies. The presence of custom land management tools will automate the recommendation process, ensure one-click integration and superior broker management activities for your business.
Key Features of Oil and Gas Land Management Software
- Lease Acquisition
- Lease Management
- GIS mapping
- Document management
- Data Analytics and Reports
Additional Oil and Gas Management Solutions
Oil and Gas Asset Management Software
Due to the complex asset utilization, Oil and Gas industries require a robust management software to manage these assets. Asset management is the most complex task, hence a dedicated management team is employed for their monitoring and maintenance on a regular basis.
Reliable and robust management software can assure optimized asset usage and continuous operations monitoring. The high-end industries can track any kind of asset across multiple locations and enhance productivity through regular maintenance and repairs.
Key benefits of Oil and Gas Asset Management Software -
- Seamlessly and quickly process a large volume of data.
- Generate and manage many documents about company’s assets
- Integrate with document management systems.
- Manage inventory, spare parts, and materials.
- Monitor uptime, downtime, and productivity.
- Provide mobile apps for field employees to access data and submit reports.
- Plan inspections for preventive maintenance, track results and recommend corrective actions.
Oil and Gas Back Office Software
Like any other industry, back-office management is an essential need for the oil and gas industry vertical to address. Oil and gas back office management software focuses on both land records and accounting-related management needs. This software monitors financial asset depreciation, manages costing of complex operations, such as exploration, extraction, and production; track revenue from multiple deposit locations.
The back-office software is integrated with customer relationship management solutions to consolidate data from varied systems.
Key benefits of Oil and Gas Back Office Software -
- Sales volume calculation and revenue valuation automation.
- Oilfield invoice generation and payment procession.
- Contract management.
- Payroll and HRIS software solutions for labor costs.
- Analyze fixed or variable costs as well as profitability.
Oil and Gas Engineering Software
The oil and gas industries have multiple tasks to manage for which multiple software's are needed. Engineering software assists oil and gas industries to build and consume mineral deposits. This management software aids in effective and result-oriented planning to recover hydrocarbons at optimal cost integrated with highest safety measures. The software is best used for production, drilling, or reservoir engineers. It helps them to stimulate extraction processes as well as estimate them.
Key benefits of Oil and Gas Engineering Software -
- Easy data capturing and validating from multiple sources.
- Templates for different types of impact analysis.
- Compare extraction and production scenarios.
- Dynamic visualization for maps, rock structure, planning & deposits.
- Rock & fluid characteristics, reservoir capacity, or production forecast analysis report.
Oil and Gas Project Management Software
With multiple resources, operations, and their complexity, it is essential to keep track of all of them. A reliable and cumulative project management software can aid in tracking milestones for the investments made for expansion in the market.
Moreover, the integration of such software can aid with adequate risk management strategy associated with any kind of project, be it large exploration and other production activities. Project management software can be amalgamated with asset management software, which can further help for scaling accounting solutions, while calculating, allocating, and managing project costs.
Key benefits of Oil and Gas Project Management Software -
- Quick collaboration within different projects internally and externally.
- Estimation of project risk and track evolution.
- Take corrective measures by notifying users and managers.
- Complying with governmental regulations.
- Identifying project risks & profits, compliance with corporate processes & standards through reports.
Oil and Gas Simulation and Modeling Software
Oil and gas industry works on deposits, wells, infrastructure, and operations. The management includes appropriate and profit-oriented decision-making, which is only possible through simulation of all infrastructure and its processes.
A complete model focusing on types of equipment use, resistivity, & environmental effects gives a real representation of infrastructure. Simulation and modeling software helps oil and gas industries to explore and predict production results, evaluate potential risks.
Key benefits of Oil and Gas Simulation and Modeling Software -
- A customized pre-defined model for exploration and drilling.
- Quick comparison through different parameters.
- Managing characteristics such as fluidity, pressure, or temperature.
- Interrogate potential risks that can impact safety or productivity.
- Support for decision-making with the help of reporting and analytics.
Oil and Gas Training Software
Training has always been an integral part of any industry. With the help of adequate hcm solutions, the oil and gas industry can also offer specialized training for operations, such as drilling for enhanced productivity and optimal use of assets and equipment. Moreover, proper training software guarantees the safety of the employees and avoids disruptions.
The advanced software integrated with an optimum technology stack delivers high-grade product training. Integration of ar-vr solutions delivers immersive training for better understanding.
Key benefits of Oil and Gas Training Software -
- Certification and tracking expiration of the same.
- Analyze job requirements and allot requisite training.
- Access to technical documentation and simulation.
- Competency tests for feature evaluation.
- Updates in the training material.
Integrating training on multiple devices and its
Custom Oil and Gas Software Solutions to Boost Your Business Profits
In a nutshell, implementing modern technology solutions in upstream, midstream, and downstream operations boost business profitability, efficiency, and customer satisfaction rate for oil and gas companies.
If you are also looking to integrate custom oil and gas software solutions into your business, connect with A3logics.
We have experienced industry developers who understand the complexity and technical needs of the oil and gas industry. Our dedicated developers can craft innovative solutions tailored to meet the common challenges faced by oil and gas companies.
Connect with us to know more about our oil and gas software development services.
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