We’re in the midst of a new era of technology brought in by the fourth industrial revolution, aka Industry 4.0. At home, you enjoy the benefits of advanced tech, like the convenience brought by voice assistants like Alexa or better security through Ring doorbells. While we are seeing incredible advancements in the technology we use every day at home, there has been a lag in the technology used at work, especially when it comes to the back office of oil and gas companies.
As Lance Richardson, Co-founder of FieldEye, writes in his Industrial Technology Solutions Have Failed Us blog post:
“Our industry is no stranger to innovation. Developing and revolutionizing how we get resources out of the ground is at the heart of oil and gas. And sure, we’ve stepped up our game in making the most of GPS and RFID tech in the field, but bringing innovation to the back-office is practically nonexistent. I’m talking about those time-consuming, complex processes that fill our days with menial work. Things we do every day, like managing our job sites, sourcing equipment, tracking quotes, and the like remain completely unaddressed.”
The industrial technology available to the O&G space has been slow to address new capabilities and is overall behind the times. Luckily, there is a new movement in the world of industrial technology. Tech providers are embracing the capabilities of industry 4.0 and creating solutions that are proactive, easy-to-use, and highly effective.
This movement drives everything we do here at FieldEye—building an innovative platform that brings you job site management and procurement solutions in one centralized platform. With our platform, O&G companies can finally address the tedious and time-consuming problems they have been dealing with for years.
Problems and Solutions for Operators, Service Companies, & Vendors
Site and Spend Visibility
When it comes to site and spend visibility, oil and gas companies run into problems including:
- No visibility into what is happening across operations
- No place to plan out and organized all the necessary vendors, equipment, services and more across the different stages of a project
- No insight into rental costs across job sites
- Spend reports are delayed 60-90 days
Lack of visibility not only makes operations less efficient, but it also cuts into profit from the site. For example, an operator is trying to coordinate rental equipment and their own equipment across dozens of different sites and yards. At one of the sites, the operator rented a piece of equipment and didn’t properly track what site it went to. After the rental equipment was used for the specific job, it was put to the back of the site, where it sat unused for months. Finally, someone noticed that it's a piece of rental equipment instead of owned equipment and called to have it be picked up. Now the operator gets charged for months of extra time.
Through the FieldEye platform, you can gain real-time visibility into operations and spend across all your sites and yards. FieldEye makes it easy to plan and manage equipment, services, and more across projects, know which vendors are being used where, and see spend across all of your job sites.
When sourcing equipment, common problems include:
- A disconnect between field and office
- Constant scrambles and wasted time
- Difficult to find new vendors
Sourcing equipment can be a process that wastes both time and money when done without the right tools. For example, you realize you need a piece of equipment at a job site ASAP. You have to go to your list of approved vendors and start making calls. Not only does this process limit the number of vendors you will get quotes from, but it is also a slow process for a time-sensitive problem.
The FieldEye platform streamlines the process of sourcing equipment. You can easily request quotes for equipment, services, and more right from your planning stage. Only want to submit RFQs to your approved vendors? No problem. Select vendors from your network and send quote requests in a few clicks. Looking to evaluate the market and find new vendors? There are hundreds of vendors on FieldEye ready to work with you in over 200 categories of equipment, products, and services. When you request quotes, Provider Match connects you with vendors that meet your criteria.
Managing vendors can be a tedious process due to:
- Massive, redundant vendor lists
- Scattered and decentralized vendor information
- Not being able to see opportunities for consolidation
Vendor management is a vital part of operations while being tedious and time-consuming. Keeping track of huge vendor lists and communicating preferred vendors to folks in the field is nearly impossible, resulting in miscommunication and rampant inefficiencies.
Through FieldEye, vendor management becomes easier than ever before. FieldEye centralizes your existing vendor information to quickly view contact details as well as vendor-specific activity and history. Then, streamlines your procurement process and submit RFQs to your vendors in just a few clicks.
When tracking quotes, you can run into problems such as:
- No way to efficiently track quotes or quote requests
- Decentralized information causes delays
- Spreadsheets not being an effective solution
O&G companies often rely on spreadsheets or other very manual ways of tracking quotes, which causes inefficiencies in every part of this process. As a result, a disconnect between the field and office typically occurs, causing both budget and scheduling issues.
Track responses, respond to, and approve quotes and orders all in one place. With FieldEye, you can stop spending days dialing vendors to go back-and-forth on pricing, tracking quotes in spreadsheets, and organizing orders from project-to-project.
Insights for Operations
Solving the problems of O&G with technology that is convenient and comfortable to use drives everything we do here at FieldEye.
FieldEye gives you visibility into your rental spend, simplifies vendor management, and streamlines the request for quote process with one platform. Replace those disparate spreadsheets and out-dated solutions with streamlined industrial project management and procurement software.
If you’re ready to start solving the problems that have plagued O&G companies for years with easy to use and effective tech, we’re ready to help.