Why Microsoft Dynamics 365 for the Oil and Gas Industry?

Updated on: 1 Mar, 2023

In today’s complex, tech-savvy era, the companies that embrace digital transformations can address meet customer demands and sustain competition efficiently. In an ever-changing administrative and innovative landscape, Energy, Oil and Gas industry is no exception.

The merchants of the oil and gas industry usually encounter multifaceted challenges with the abrupt changes in business cycles, crude oil prices, overburdening regulation, intense competition, etc. Hence, it is imperative to streamline business process management to optimize business operations effectively.

Microsoft Dynamics 365 offers a complete enterprise resource planning solution that optimizes key business processes and helps them to increase profitability. The ERP (Enterprise Resource Planning) solution has a significant influence on the production and management of the oil and gas industry. Microsoft Dynamics 365 is the ideal solution for midstream and downstream energy companies that includes oil refineries, petrochemical plants, petroleum products distributors, and natural gas distribution companies. Let’s explore how Microsoft Dynamics serves the oil and gas industry;

Financial management

The system allows you to integrate daily financial operations with a single view to streamline different processes. This practice improves performance and ensures accurate reporting. Also, it can generate the cost customization with accounting functionality so that you can manage end-to-end billing and cost-control processes within one system.

Clouded Visibility

The cloud-based Microsoft solution increases visibility into the business processes that help to make informed decisions. Whether it is a configuring workflow-driven approval process, critical-path schedules, or exception-driven alerts, everything can be managed with improved visibility with the Dynamics 365.

Customer-focused services

The system enables you to keep track of customer progress by presenting dashboard views of
customers and sales management information. With the consolidating information across and within the enterprise, boost customer service and lasting relationships.

Workforce management

Optimize workforce management with built-in intelligence, remote monitoring, and tools. The system will enable you to manage the entire workforce even from a remote location. Also, you can organize and schedule their work from the system.

Apart from these, there are several other features of Microsoft Dynamics for oil and gas industry that helps the business owners to perform operation flawlessly to drive more revenue. To be more precise, here is the list of functionalities covered by Microsoft Dynamics solutions for the oil and gas industries;

– Expense Management

– Accounting management

– Asset management

– Schedule any particular job Purchasing and Ordering

– Production forecasting

– Aggregated field supply management

– Purchased volumes

– Storage and inventory management

– Scheduling processing

– Settlement – producing all source documents and related journal entries

– Invoice generation

– Facility charge invoice

– Net back and net out statements

– Reporting management

Key benefits:

– Increased productivity with automated business processes and efficient reporting tools

– Lower operating costs with better use of resources, materials, and equipment

– Less wasted effort drives higher profitability

– Unprecedented and aligned demand and supply chain management

– Real-time information accessibility

– End-to-end solutions with reduced execution efforts

– Prolific financial solutions for upstream companies

Microsoft Dynamics 365 is an idle solution for the oil and gas industry that covers all of the core utilitarian business requirements and processes to boost operational efficiencies. The solutions and schedule any particular job are designed uniquely for the industry that fetches profitable outcomes.

Want to get Microsoft Dynamics 365 for your oil and gas business?

Connect with us now. As a certified partner of Microsoft, Ecosmob offers robust Microsoft Dynamics 365 solutions for the oil and gas industry. According to your requirements, our consultant will guide you to get the right solution that empowers the growth of your oil and gas business. Whether you work with upstream, downstream, or midstream of the oil & gas business, you will get the right solutions.

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