A mobile strategy can increase revenue by $33 billion

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A mobile strategy increases revenue

The global market for digital oil field in terms revenue is expected to reach $33.3 billion by 2022. The number one factor executives believe will have the greatest impact on their business for the next five years is mobile technology. The International Data Corporation (IDC) predicts that the smart device market will accelerate past 2 billion shipped units by the end of 2015. Mobile enterprises creates a whole new model of how business can be ran more efficiently, especially in an industry that is still using old and outdated methods. The importance of recognizing the industry trend towards mobile data synchronization in the oil and gas industry is a key factor in its sustainability. Innovation through a mobile strategy is becoming a key factor because it is a new sales tool that projects better, more accurate and precise data and removes inefficiencies that exists with the old method of using paper.

Using paper leads to gambling on contracts and the risk of losing sales.

A survey conducted by Oil and Gas IQ shows that 71 % of all employees use their mobile devices for work purposes but only 16 % of the oil and gas companies have employed a mobile strategy so far. Too be able to see what the features of having a mobile strategy as a sales tool can offer with the mobile impact that is upon us can be of great beneficial factor.

Field worker incorporated with mobile strategy

As a revenue enhancer, a mobile strategy is beneficial in several ways. A mobile strategy offers better fleet management, fuel management, field-force management and easier gross refining margin as data is being delivered in real-time. With the data being submitted in-real time, monitoring data both on-field and at an executive level is much easier. You risk looking unprofessional compared to your competitors if you’re still using methods that follows the old and outdated pattern. Data delivered on paper has a much longer cycle-time compared to a digital platform and provides your stakeholders with bad information. SEE Forge’s mobile app captures all of your paper into one place where it gets accessible straight away for your stakeholders to read and analyze.  This makes payoffs in labor costs, customer satisfaction and overall product quality in that sense everything runs much smoother and looks better compared to your old system.

SEE Forge’s mobile solution benefits both internal and external stakeholder with the data being delivered in real-time. The internal stakeholders will have a new streamlined process where information is being transferred in a much more efficient and sufficient way cross-company. The total insight one would achieve would make the company project better data and information for its external stakeholders. Customers, partners, suppliers and more will have fresh and professional looking data on their hands, making the overall product quality from the look company better.  With a mobile strategy external stakeholder service is simplified and has become much more responsive. The momentum of being able to project better information-flow for documents, reports, orders and furthermore will make them spend more time in the SEE Forge app because it is all accessed in the same platform. The option of real-time interaction makes cross-communication easier and might provde the competitive edge competitors can’t offer.

The increased communication and collaboration a mobile strategy offers takes away the process worry as unstructured processes are now set in system. Teams can communicate in real-time making it easier to make decisions or actions right away. A problem with today’s method is that there is no reporting standardization and that leads to bad reporting culture. The simplified method a mobile strategy offers makes it much easier for field workers, project managers and supervisors to report directly in a platform where employees at higher level can access the suitable information. This gains the company both at a management and operational level. It gets easier to see who gets the job done and who don’t. And when the process of submitting data gets more simplified, it gets easier to extract information that is vital in operating.

Not using a mobile strategy can risk the sustainability of the oil and gas industry.

Outdated processIn the survey conducted by Oil and Gas IQ 55 % of the CIOs asked believes the use of a mobile strategy will greatly enhance operations. They see what the oil and gas industry is leaning towards. Failure to follow trends has previously proven to be a crucial element in sustainability for an entire industry. The American car industry’s fail to innovate to an automatic car-building process made room for the Chinese market to grow rapidly as they used robots instead of manual labor. Automation creates a much leaner process than what is the case today, and with a mobile strategy the risk getting left behind is mitigated. Using old and outdated processes creates a room in the market for new actors to participate that are using new and better methods.

 

Sources referred to in this post:

http://www.oilandgasiq.com/articleiframe.cfm?id=15489

http://www.oilandgasmobility.com/media/8113/8194.pdf

https://www.fas.org/sgp/crs/row/R40924.pdf

http://www.oxfordeconomics.com/Media/Default/Thought%20Leadership/advisory-panels/Digital_Megatrends.pdf

http://www.idc.com/getdoc.jsp?containerId=prUS24314413

http://www.marketsandmarkets.com/Market-Reports/digital-oilfield-market-904.html

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