8 Best ERP Software for Oil and Gas Industry
The ERP plays an significant role in any industry and when it comes to the Oil and Gas Industry, the role becomes more critical as the sector handles complex projects with real time traceability, thus it needs a ERP software that works the best in every way possible, This is a software suggestion list for the Best ERP available Software’s for Oil and Gas Industry, the business must ensure that they select the one which is most suitable software for their Oil & Gas ERP needs from the given list. The blog also provides a list of few challenges that are commonly faced by the Oil and Gas sector.
Odoo ERP Software
The Odoo enterprise resource planning software, is a complete business management software which simplifies the workflow within any organization. It allows the users to choose both on-premise and cloud-based versions according to their need and requirements. The software gives benefits like extensive Community Support, seamless 3 rd party integration, and easy to use interface.
Align Books
This is another ERP software that works for all businesses irrespective for their size, the software also provides mobile application for android users, which is not only a versatile option to work with also it provides extensive features like Bank Reconciliation, Document Management, Customer Relationship Management that helps the Oil and Gas Industry to have an advanced work system. The software gives a free trail option for a limited period of time and then follows up with yearly subscription.
Deltek ERP
Deltek ERP is a software that is designed with a project-based businesses approach, the user can cater their specific needs that suits their business the best. Also it integrates with various other Enterprise resource planning software’s like Microsoft Project, Salesforce, QuickBooks, Oracle, SAP to give holistic approach to its users. Deltek ERP gives advanced project management, detailed financial planning to maintain the processing.
Tally Prime
Tally prime is one of the most popular ERP solution that is especially designed to tackle the needs Oil and Gas Industry businesses, the solution offers 360-degree suite for service companies with various features like accounting, inventory management, and compliance management. The software allows ERP Implementing that can save a huge cost due to the improvement in inventory management practices like optimal inventory levels and minimized stock excess.
Cetec ERP
Cetec ERP is a web-native ERP that offers a cloud-based, user-friendly fully integrated system to its users. The software provides a single integrated platform that can be deployed in the cloud or on your local server. The software provides Systematic Document Management and an Easy Planning & Scheduling tools that help the user to build their workflow. The software comes with a price range of $3K - $40,000K.
Deacom
Deacom is a process control software designed especially for oil and gas ERP system; it can be an ideal choice for the user looking to integrate with PLC control systems as it works with the same. Deacom includes financial control, production cost visibility tools that further enhance the system. The software works on extensive integration service with numerous e-commerce platforms like PayPal, Shopify, Amazon, etc.
Datacor ERP
Datacor ERP offers both on-premise and cloud-based solution that give a complete 360 degree of applications to manage various business processes. The factors that make it popular among SMEs are its affordability and ease of use. The features like Automated regulatory tools, End-to-end supply chain management makes it stand out in the list of Best ERP available Software’s for Oil and Gas Industry. The software offers a price range of $30K - $1,000K that can be another beneficial point for small and medium-scale industries.
Enertia
Enertia is an integrated ERP software that provides tailored functionalities to the Oil and Gas Industry. The software works maintaining and segregating the data for better data-driven decisions. Enertia is an on- premises ERP system which works the best for medium and large size companies.
Common Challenges faced by Oil and Gas Industry:
The oil and gas industry are a vast industry that works on a systemic approach, despite this there may be times when the business face few issues, here are some of them
Cost Reduction
The production cost plays a vital role in the oil and gas industry as it works on catering to huge customers, the production cost is a parameter that decides the market approach of the brand. thus the companies are under immense pressure to regulate the production levels, through in-depth analyzing of technologies for better operational insights, and supply chains optimizing that reduce the overhead costs.
Environmental Regulations and Sustainability
The Oil and Gas Industry is the one that is mostly dependent on the environment as well as it also increases the scrutinized for its environmental impact due to its huge carbon emission, thus the industry should keep in mind the idea of promoting sustainable practices and invest in cleaner technologies that regulates the emission of carbon as Failure to comply with these regulations can lead to significant fines and reputational damage to both the environment and companies reputation.
Cybersecurity Threats
As the industry becomes more reliable on digital technologies, the threats against the same have also increased at a rapid pace. Thus it is important for the business to invest in cyber security that helps them to protect Sensitive operational and financial data.
Less manpower
The oil and gas industry are experiencing less manpower as there are less people interested in the sector. Also the industry needs an urgent growth in the current workforce which can help them in working with new technologies and practices which further leads to a progressive growth rate for the firm.
Supply Chain Disruptions
The supply chain is the distribution of goods and services in the oil and gas industry that has significantly changed after the COVID-19 pandemic. This disruption leads to load shortage, shipping delay, high cost and many other destroying factors. To solve such issues the company needs to develop resilient supply chain strategies that can work on these challenges effectively.
FAQs
What are the three main ERP systems?
There are three main types of ERP systems including cloud ERP, on-premise ERP, and hybrid ERP.
What is the most widely used ERP?
The Odoo enterprise resource planning software, is a complete business management software which simplifies the workflow within any organization. It allows the users to choose both on-premise and cloud-based versions according to their need and requirements. The software gives benefits like extensive Community Support, seamless 3 rd party integration, and easy to use interface.
What are the Trends for Oil and Gas ERP Software?
The few trends for Oil and Gas ERP Software are:
- Artificial intelligence and Machine Learning Integration
- Cloud-Based Solutions
- Cyber security advancements
Who is the competitor of SAP?
Odoo is an open-source ERP solution software that makes the first position in the list due to its flexibility and modularity, which is ideal for any construction company. The software helps various ventures to integrate their business function and align them with the current workflow. Odoo gives wide range of functions tailored to each firm these function can vary from business to business.
What are the technology applications in the oil and gas industry?
The two most common technology applications in the oil and gas industry are digitalization and automation.
