The shift to cloud is now an urgent need for businesses across industries, with Oil and Gas companies standing at the forefront of this movement. There are numerous benefits that digital solutions on SAP Cloud Platform can bring to top players in the industry. Let’s look at some of the major value additions that digital solution housed in the cloud can bring to the business-
1. Relying on market-standard digital solutions means not having to re-invent the wheel at every turn to develop and maintain costly proprietary apps, processes and platforms.
The goal here is to reduce business and IT lifecycle costs by capitalizing on market economies of scale. The company can rely on market-standard, multi-tenant solutions housed in the cloud for the majority of its business processes, say about 80 to 85%, with the remaining IT infrastructure consisting of proprietary solutions. These solutions are the ‘special sauce’; custom digital processes and solutions that the company can leverage to differentiate, extend and transform its brand and its business.
2. Moving key business processes to the public cloud and embracing SaaS and PaaS solutions to create an intelligent enterprise, one that is more capable of leveraging its data to optimize the value of its field assets.
Companies are looking to realize significant gains in operational efficiency by replacing ageing, siloed, on-premises legacy systems with standardized, scalable enterprise-wide solutions. From internet of things sensor-equipped equipment in the field to data-driven, machine learning and analytics tools, to an enterprise-wide digital core that integrates them all, the latest breed of cloud-based digital solutions enables oil and gas companies to simplify and optimize processes, and to collect, analyze and strategically act upon data from across the enterprise, in real-time. That’s the essence of an intelligent enterprise.
3. Exploring and quickly scaling up promising new business models, and integrating businesses they may acquire
Exploration has taken on a new meaning for oil and gas companies as they diversify “beyond the barrel.” Having a digital platform capable of sourcing and modelling data from other industries is bound to help Oil and Gas companies develop a better and more profitable customer retail experience.
For companies in merger and acquisition mode, integrating two large and complex organizations becomes eminently more manageable with an industry-standard approach to digital infrastructure. Two companies’ previously disparate ecosystems, as well as their workforces, can be united seamlessly and quickly with end-to-end business processes and workforce management solutions, enabling data, learning and best practices to flow freely and securely across the newly merged enterprise.
The top Energy and Natural Resources companies in the world are realizing that in order to innovate, differentiate and compete in certain high-value areas of the business, they must be open to cooperating with their competitors in other areas of the business. Embracing market standards and the cloud gives them the means to do exactly that.
Incture® is a preferred SAP partner that has developed specialized digital solutions for the Oil and Gas industry on the SAP Cloud Platform. Incture’s solutions leverage the latest cutting-edge technology to create an end-to-end digital infrastructure that enables the value additions to churn out demonstratable results. You can learn more about our solutions, by requesting for demo: https://www.incture.com/request-a-demo/
About the Author:
The Senior Director of Industry Marketing—Oil and Gas at SAP, Brent is a global marketing/sales, business development, and business management leader in the industrial business sector. He has diverse technical, marketing/sales and business management background with extensive new business development experience on a wide variety of business models, including government and commercial. Brent has demonstratable experience in guiding personnel in technical and business applications and directing their efforts in a team approach to meet objectives.