Getting smarter about the future of oil and gas

There is no doubt that cost cutting is a must – even if for no other reason than executives and boards are forcing it. However, it is critical that you are able to understand and articulate the risks associated with the cuts you make, and that you also in parallel consider how you can improve performance along with the cost reductions.

Software solutions like business process management (BPM), which helps businesses define and automate core procedures, and enterprise architecture (EA), which allows businesses to model, analyze and improve enterprise initiatives, can help you identify excess overhead and underutilized resources and enable you to automate highly manual processes to generate greater efficiency and productivity - both functions that directly reduce costs. In addition, BPM and EA technologies also provide the platform on which to identify and accelerate innovations and become more agile in response to change, giving your business an opportunity to actually gain a strategic advantage while weathering the tumultuous market.

While use of BPM and EA technologies is relatively new in oil and gas, the technologies themselves are not new. Business process management and enterprise architecture software solutions from one vendor - Metastorm for example, have helped over 100 US Federal government organizations better understand and improve operations, plan for future needs, comply with regulations, improve visibility, and enhance security and collaboration. Ultimately these technologies enable better performance and allow companies to focus on important tasks rather than administrative responsibilities, equating to lower costs and increased productivity while at the same time giving them the process improvements, visibility and technology they need to manage upheaval (terrorism threats, natural disaster response, economic threats) with greater ease. These organizations, like today's oil and gas firms, are driven by an imperative need to optimize their systems and processes to achieve the fastest and most flexible automation possible, at the lowest possible cost.

BPM and EA software can help you address major risks, including uncertain energy policy, price volatility, aging infrastructure and human capital challenges while still containing costs. How? BPM software gives you the power to fully understand, document and automate core business processes so they are repeatable, auditable and readily adaptable to change. EA tools allow you to model all enterprise assets and understand the impact of upgrades and change, allowing you to make the best decisions at the appropriate times as you battle the 'rust' that so often threatens your capital infrastructure and struggle to make the right process improvements while getting the most out of your existing resources.  EA and BPM technologies can help with human capital challenges, serving as a collaborative platform for capturing the expertise of seasoned veterans while appealing to the younger, technology savvy workers who come on board, to keep your business running in peak form.

BPM and EA solutions can help prepare you for the next generation of business.  The extraordinary challenges facing the oil and gas industry offer a defining opportunity to implement innovative solutions today that will help you emerge as the market leader of tomorrow. Several firms in the oil and gas industry have already put EA and BPM software in place and are reaping great rewards from the improved efficiency, reduced costs, accelerated customer service, and increased flexibility and insight that these technologies deliver. There is a huge opportunity right now for you to get on board and make an impact. 

Metastorm's business process management and enterprise architecture software is in use by over 1300 organizations worldwide, across a variety of industries. For more information, visit www.metastorm.com/oilandgas.

BIO

Laura Mooney is Vice President of Corporate Communications for Metastorm. She has over 18 years of experience in articulating the value of software to business needs. Metastorm's enterprise architecture and business process management software help organizations better understand and improve core business processes for greater efficiency, governance, insight and agility.