ERP systems tailored to oilfield drilling business processes
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 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 oilfield drilling operations with a single, cloud-based solution
Oilfield drilling businesses that partner with Rand Group for robust ERP solutions aim to achieve goals such as minimizing operational costs, digitizing business processes, and boosting the performance of their machinery and industrial assets. Our oil and gas industry and ERP experts combined with the power of Microsoft, NetSuite, and other 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 and Oracle NetSuite Solution Provider.
Manage authorization for expenditures (AFE)
Configure different levels of approvals as well as a combination of dimensions that are required at each level to manage and control expenses.
Stay connected with your equipment and utilize predictive analytics
Maintain a strong connection between your field equipment and headquarters at all times with IoT sensors that transmit real-time data, allowing you to predict and detect issues with assets before they even occur.
Maintain secure processes 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 to get a big picture view of operations.
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 effective 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 built into an ERP system helps field service technicians complete work faster and helps managers monitor operations and optimize usage.
An ERP solution built by Microsoft or NetSuite delivered with customizations to your oilfield drilling operations by Rand Group allows you to:
- 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
- Utilize IoT-enabled assets for remote monitoring
- Diagnose problems before they occur and schedule asset maintenance to create a proactive and predictive service model
- Manage inventory, assets, spare parts, and materials needed for maintenance
- Monitor and track costs associated with repairs and inspections
Manage complex and ever-changing 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.
An ERP from Microsoft or NetSuite delivered by Rand Group connects data across your organization and creates visibility to:
- Configure and implement asset risk and regulatory requirements
- Enable planning of desired safety outcomes with predictive analytics
- Adhere to clean water, clean air, and sustainability regulations
- Ensure proper personnel training through certifications and assessment
- Automate monitoring with AI and machine learning technologies
Configure joint interest billing processes
One of the complexities off the oil & gas industry is coordinating 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 an ERP tailored to oil & gas businesses allows you to:
- Generate authorization for expenditures (AFE) cost estimates
- Allocate overhead and cost by center
- Maximize billing to partners
- Create collated statements, invoices, and prepayments
Industry-tailored solutions for oilfield drilling businesses offered by Rand Group
Rand Group is proud to offer a variety of ERP solutions built by Microsoft and NetSuite to transform the way you run your oilfield drilling operations. Our team will help you evaluate and select the best solution for your business, then implement and customize it based on your specific processes. Explore Microsoft and NetSuite solutions below based on your organization’s unique needs.
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 connect 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.
NetSuite ERP
NetSuite ERP gives organizations clear visibility and control of their business from financials to supply chain, order management, procurement, production management, and warehouse management. It is scalable to meet the needs of all sizes of organizations and is highly customizable to the oil and gas industry.
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
