Benefits to Consolidating Software in the Current Market

In today’s current market conditions oil and gas companies are looking for immediate ways to create efficiencies. We have seen capital budgets cut instantaneously and individual spending limits tremendously decreased. In addition to spending cuts we have unfortunately seen a large reduction in force. Simplifying vendor management and reducing costs can be achieved by rationalizing duplicative or overlapping tools. Not only does this translate to direct cost savings but the consolidation of software platforms can lead to streamlined access to data, increased efficiencies and smoother technology adoption.

How did we get here?

When oil is at a high, we all have larger signing authority. In the past each individual asset and each operation’s vertical has made siloed decisions in regards to software purchases. In addition to high budgetary authority, along with asset acquisition comes the inheritance of additional software platforms. While it takes time to consolidate platforms, there will be a cost benefit received from the software you decide to consolidate to.

Where do you start?

Great question. Consolidating software platforms might seem like a lot of work but while it will take some up-front time you will see huge gains in the long run. Common softwares that tend to flag as redundant are reporting & customizable forms. Capterra (https://www.capterra.com/oil-and-gas-software/) is a great site to view like platforms. As you dig a little bit deeper into your organization you will find that your company most likely has at least two, if not three analytics tools like Tableau, Spotfire or Power BI. Everyone in the field across all operations needs to perform standard operating procedures, job safety analysis or inspections. It is likely your organization has licenses for two if not three of these companies: ProntoForms, Form.com, Power Apps, Snappii or DocVue.  Once you identify a few repetitive platforms, that’s when the fun starts!

Who should research the consolidation of platforms?

Well, since you’re taking the time to read this post it seems like you would be a great project champion! The steps to consolidate are simple: identify duplicative softwares, contact each software provider to get competitive pricing, select the best company & price, migrate all users to one platform. Oh, and don’t forget to loop IT in to make sure all of your old data is stored and easily accessible. If you feel like your company is using legacy platforms, take the initiative and see what’s new in the market. You might find a platform that is a better fit for your organization in regards to functionality and reducing your cost.

Jenna Velardi
Sr. Director of Enterprise Sales
ENGAGE