ERP solutions designed for oilfield drilling businesses
Oil and gas drillers are facing industry challenges including volatile commodity prices, ever-evolving regulations, remote management, workforce availability, and a need for improved data collection. An ERP solution built by Microsoft and delivered with customizations to your business by Rand Group can transform your day-to-day operations, help you overcome challenges oilfield drilling companies face, and deliver long-term success.
Manage your entire oilfield drilling business with a single solution
Oilfield drilling businesses that partner with Rand Group for robust ERP solutions have minimized operational costs, digitized business processes, and boosted the performance of their machinery and industrial assets. Our industry and ERP experts combined with the power of Microsoft technologies deliver connected systems with automated process and data flows, robust accounting tools, and comprehensive reporting.
Rand Group is your long-term partner to help you address industry challenges such as minimizing turnover, managing changing environmental regulations, adapting to volatile commodity prices, introducing new drilling equipment and more. We have been serving clients in the oil and gas industry – including numerous oilfield drilling companies – since 2003, and are a certified Microsoft gold partner.
Manage authorization for expenditures (AFE)
Set up different levels of approvals as well as a combination of dimensions that are required at each level to control expenses.
Use IoT devices and predictive analytics
Stay connected at all times with IoT sensors that transmit real-time data, allowing you to predict and detect issues with assets before they even occur.
Drive secure process and regulatory compliance
Drive efficiency with real-time access to business information across different channels, automated workflows to ensure quality and compliance, and robust reporting.
White Paper
How to choose an ERP solution for your oil & gas business
From fast-changing regulations to fluctuations in international markets, oil and gas businesses need enterprise resource planning (ERP) software that is flexible, efficient, and amenable to an ever-changing landscape. In this whitepaper, our industry experts will walk you through the process of defining ERP requirements, identifying the necessary modules for your business, and finding a partner to implement the solution.
White Paper
How to choose an ERP solution for your oil & gas business
From fast-changing regulations to fluctuations in international markets, oil and gas businesses need enterprise resource planning (ERP) software that is flexible, efficient, and amenable to an ever-changing landscape. In this whitepaper, our industry experts will walk you through the process of defining ERP requirements, identifying the necessary modules for your business, and finding a partner to implement the solution.
Enable remote equipment monitoring
To keep projects on track, it’s essential to increase equipment reliability, decrease downtime and unplanned outages, and schedule inspections quickly. Asset management in Dynamics 365 helps field service technicians complete work faster and helps managers monitor operations and optimize usage.
With Dynamics 365 you can:
- Use video, screenshots, and mixed-reality annotations to collaborate in real-time from another location
- Document calls, monitor assets through photos videos, and track important details of equipment for future reference and faster resolution
- Use IoT-enabled assets for remote monitoring
- Diagnose problems before they occur and schedule asset maintenance to create a proactive and preventative model
- Manage inventory, assets, spare parts, and materials needed for maintenance
- Track costs associated with repairs and inspections
Manage complex regulatory and environmental standards
The oil & gas industry is highly regulated and scrutinized with ever-changing environmental and safety regulations. Therefore, it is important to adhere to government regulations set by both the country or region you operate in and the country or region you might be doing business with.
Dynamics 365 connects data across your organization and creates visibility to:
- Manage and implement asset risk and regulatory requirements
- Ensure proper personnel training through certifications and assessment
- Enable planning and desired safety outcomes with predictive analytics
- Adhere to clean water, clean air, and sustainability regulations
- Automate monitoring with AI and machine learning technologies
Joint interest billing
One of the complexities off the oil & gas industry is handling accounting and communication between multiple working interests and controlling joint interest billing (JIB) functions. The JIB accountants and the software systems they use to conduct their daily tasks are essential for maintaining accurate records of the financial responsibilities of each partner in an oil and gas venture and for ensuring that those costs and expenses are fairly allocated to member partners.
Financial management with Dynamics 365 tailored to oil & gas businesses allows you to:
- Generate authorization for expenditures (AFE) cost estimates
- Allocate overhead
- Maximize billing to partners
- Allocate by cost center
- Create collated statements, invoices, and prepayments
Rand Group’s industry-tailored solutions for oilfield drilling businesses
Rand Group offers a variety of oil and gas-tailored solutions built by Microsoft to transform the way you run your operations. Our team will help you evaluate and select the best solution for your oilfield drilling business, then implement and customize it based on your specific processes.
Dynamics 365 for Oil & Gas
Dynamics 365 for Oil & Gas is a collection of end-to-end cloud solutions that manage finances, workforces, assets and equipment, projects, customers, and more. It is designed for all sizes of oil and gas companies including oilfield services, drilling, machinery, and others to connect and provide visibility to every aspect of the business.
Dynamics 365 Field Service
Dynamics 365 Field Service is a connected field service solution that uses intelligent IoT, machine learning, and mixed reality capabilities to enable proactive field service operations, effective resource scheduling, drive technician productivity, increase asset uptime, and boost customer satisfaction.
Related Insights
Top 5 2023 industry trends for the oil and gas industry and the role of modern Cloud ERP
The oil and gas industry has undergone significant transformations, and 2023 is no exception. From sustainability efforts to technological advancements, several trends are reshaping the landscape. In this blog, we will explore the top five industry trends for 2023 and how modern Cloud ERP systems can play a vital role in supporting and enhancing these developments.
Technology trends in the oil & gas industry
From rapidly-changing regulations to fluctuations in commodity prices, oil and gas businesses know the importance of staying agile and ahead of the competition. One way to combat industry changes is to stay up-to-date with the latest technology trends and evaluate if any make sense for your organization.
Digitize your oil & gas operations with a cloud-based ERP
The oil and gas industry is a volatile one, highly susceptible to fluctuations due to a variety of factors beyond just commodity prices. Because of this, businesses in the industry need the ability to make fast decisions and adapt processes to meet a changing landscape. One of the many ways to keep your business agile is through flexible software that meets your changing needs.
Let’s talk about how we can transform your business
