Oil & gas industry is not any easy sector to do business as prices and demand fluctuates regularly. Therefore, it is difficult to budget and moreover, supply chain costs are on the rise.Adding to the woes is the strict government rules.
However, this scene need not continue. An industry-specific enterprise resource planning (ERP) solution can boost revenue and improve growth. More so oil and gas industry ERP software would operate more efficiently.
Key Requirement in ERP software for oil and gas industry is as follows
- Among other features the ERP must not only be adaptable with process changes in modern companies, must also be employee friendly. This feature is very essential as far as the seamless working of the organization is concerned. The ERP software for oil and gas industry, particularly petroleum industry must be adequately flexible to the business.
- There is heavy competition in the global market in every industry. The top and best ERP software for oil and gas industry takes pride to deal with any procedures related to the organization. The software must have capacity to deal with money-related procedural dealings of the international market having different monetary forms and currencies. Moreover, the ERP must be robust enough to posses the capacity to handle rapid fluctuating cost and unpredictable supply in the global scene which is not an uncommon phenomenon.
- It is loud and clear that the best ERP software suitable to oil and gas industry must have the capability to get integrated perfectly with the solutions the organization currently using. It is therefore implied that an ERP with a range of integrated add-ons like Asset Management, Mobility Solutions is considered to be elementary. On the other hand, check these add-ons that will be discussed later in this article.
- The chief notion stimulating the best ERP software for oil and gas industry was to take out “data storehouses” or frameworks that may put away exceptional categories of data viz., HR & Payroll) in databases that were relatively not viable. The data storehouses made specific and continuous detailing inconceivable in addition to bonding up between departmental procedures. The ERP handles most of the task diligently and great reporting capabilities are one of the essentials features that inherently go with any ERP, for that matter.
Most of the problems can be resolved by ROBO-ENERGY powered by Microsoft Dynamics NAV. Undoubtedly, it is the ultimate and fully integrated ERP software for petroleum or Oil & Gas industry:-
P & L profit Center-wise (Bunkering, Terminal, Fuel Oils, Lubricants etc.)
B2B & In stock – Back to Back order
Central Credit Control Module
Parent-Child Relationship of Customer Accounts
Weighbridge integration
Auto Profit Centre Movement of PCM – in the even lubricant stock is sold by Bunkering Trader or stock is moved from lube to bunkering to arrive at the profit center-wise P & L
Quality Management – Quality Approval and Result, item Specification
Logistics-Own Logistics Management. Hired Logistics Management, Insurance Maintenance Management, Check-in, Check-out and Logistics Released Bookings.
Insurance Management – Insurance Quote, Insurance Order, Insurance Invoice/Payment/Claim & Approval.
Indent Management – Purchase Indent, Approval Link to Purchase order
Terminal Management
- Processing –Availability of Storage, Storage Quote, Storage Lease Agreement and storage
- Execution – Terminal Receipt, Terminal Shipment, Blending & Inventory Handling
Trade Finance – Letter of Credit, Trust Receipt, Bank Guarantee, Bill Discount, Post Dated Cheque& CMA
- Multi-Currency
- Multi Purchase order with single LC
- Price Tolerance functionality in LC
- TR settlement
- LC Settlement
- Roll Over of Limits
- PDC – Customers & Vendors
- Collateral Management
