The Future of Midstream ERP is Here: Why It’s Time for a Change
By W Energy
UPDATED: August 25, 2023
| 4 min read
In the energy sector, outdated ERP systems can be anchors, holding oil and gas companies back from capitalizing on new opportunities. Every tool, especially the foundational ones like an ERP, should be aiding progress, not hampering it. Unfortunately, when we speak with oil and gas companies, we find that this isn’t always the case.
As this industry faces fast shifts, it’s high time we evaluate if our systems are relics of the past or robust engines to aid future growth. After speaking with a handful of Midstream operators, these are the most common pitfalls of sticking with their existing ERP.
The energy sector is evolving, and while technology advances, some software remains stagnant, causing missed opportunities for growth. These systems come with hidden costs that might not be immediately apparent, but they trickle down, impacting the overall performance and decision-making capabilities of any midstream oil and gas company. Whenever we speak with a midstream company who is looking to switch to our cloud-based ERP platform, they are typically facing these same challenges…
Their legacy ERP lacks transparency
Transparency is not a mere “nice-to-have.” For decision-makers — from Controllers to CFOs — it’s paramount to have complete visibility into their ERP systems and why calculations are the way they are. Prospects express frustration with their legacy system because when a customer calls them with a question, they’re unable to fully see how the system calculated a specific number. In most cases it’s about confidently standing behind every financial statement, every contract decision, and ensuring that every division order is backed by solid, traceable data.
Their legacy ERP has time-consuming processes and lacks efficiency
Efficiency is at the heart of ever Controllers and CAO’s role. They operate in a space where time is often equivalent to cost. Prospects typically tell us that their ERP system hinders their ability to work quickly and often requires unwarranted workarounds. This doesn’t just waste time; it erodes confidence in data integrity.
Their legacy ERP is hard to work with and doesn’t offer quality support
In an industry built on contracts and partnerships, strong vendor relationships are crucial. Challenges with software shouldn’t turn into debates between the vendor and the customer. The Director of Contract Management, among others, needs swift and effective resolutions, not prolonged disputes. Most times when a prospect approaches us, this is one of their top complaints. The support for their current ERP is abysmal.
The complexities of the oil and gas industry demand software that’s not only sophisticated but also intuitive and adaptable. It’s not just about storing data; it’s about analyzing, predicting, and guiding. It’s not about providing a piece of software and leaving the customer alone; it’s about being there and supporting them at every stage of growth.
Enter the next-generation ERP system – W Energy Software. This is what we offer to midstream operators.
Transparent Calculation Views
Our ERP provides a crystal-clear breakdown of calculations. No more guessing or blind trust; You’ll know every number, you’ll know how it was calculated, and you’ll quickly strengthen both your decision-making and stakeholder confidence as well as your customer relationships.
Swift and Efficient Performance
Gone are the days of prolonged waits times for system calculations. W Energy has turned processes, which once took hours, into tasks completed within minutes. And it’s not just about speed—it’s about the efficiency and accuracy that this speed allows. W Energy allows for you to get more done with less.
W Energy is a Cloud-Based SaaS Company
In the age of digital transformation, on-premises solutions are increasingly being overshadowed by cloud-based platforms. These models, anchored in the cloud, offer unparalleled flexibility and scalability no matter how fast your company grows. Additionally, with Software-as-a-Service (SaaS), you’re always equipped with the latest updates without the hassle of periodic manual updates. So, remember that request you sent your legacy ERP 10 months ago? No need to wait any more.
Robust Customer Support
In the fast-paced energy sector, challenges need immediate attention. That’s where robust customer support comes into play. Beyond mere problem-solving, it’s about building partnerships that prioritize the user’s needs. No more tussles over trivialities or “nickel and diming” discussions—just swift, effective resolutions, so your business can keep its momentum going. We pride ourselves on our support. Come test it out.
Leveraging Data for Better Business Decisions with W Energy Software
Data is the pulse of the energy sector. W Energy Software ensures that this pulse is strong, steady, and insightful. For the Director of Division Orders and others, understanding the underlying narratives behind numbers is invaluable.
Data Analytics and Improved Decision Making
With W Energy Software, midstream operators and their teams can dive deep into analytics, transforming raw data into insightful narratives that guide the company’s direction. Our platform doesn’t just present numbers; it narrates the story behind them. You can easily navigate the intricate terrains of the industry, backed by our advanced analytical capabilities.
Flexibility and Adaptability for Future Needs
The world of oil and gas is constantly changing, and static ERP platforms will never be able to scale and change with you. Recognizing this, W Energy Software is built with the future in mind. Our system isn’t a fixed entity but an evolving solution, designed to scale, adapt, and modernize as industry parameters shift. We push regular updates out and don’t make you wait months to receive the next updated version. We fix bugs on the fly and always promise to deliver a solution that empowers you to do more with less.
In a competitive landscape, midstream oil and gas companies cannot afford to be hampered by outdated software – especially an outdated ERP system. The challenges are real, but so are the solutions. W Energy Software offers modern tools tailor-made for the industry’s unique needs.