The oil and gas industry can often be a volatile one. From fast-changing regulations to fluctuations in international markets, oil and gas businesses need enterprise software that is flexible, efficient and amenable to a changing landscape of regulations. In the face of these challenges, oil and gas producers must streamline processes, prioritize company flexibility and target every single area of waste.
NetSuite ERP is the ideal platform for oil and gas businesses to keep competitive because it fosters transparency throughout an organization. Leaders in every area can access an accurate, real-time source of information on company processes and results and then use that data to drive decisions and allocate resources efficiently. However, not every ERP platform can meet the challenges that oil and gas companies often face. NetSuite ERP-features for the Oil & Gas Industry
The #1 Cloud Financial Management Solution
Used by thousands of organizations worldwide, NetSuite’s financial management solution expedites daily financial transactions, accelerates the financial close and ensures compliance. Our cloud-based single platform architecture ensures complete real-time visibility into the financial performance of the business from a consolidated level down to the individual transactions.
NetSuite financial management seamlessly integrates with all NetSuite order management, inventory, CRM and ecommerce functions to streamline critical business processes.
Fixed Asset Management
NetSuite Fixed Assets Management provides you with the power to eliminate spreadsheets and manual effort from your company’s asset management processes. NetSuite’s complete and integrated solution gives you an easy-to-manage single version of the truth for your assets, a flexible fixed asset calculation engine, complete asset reporting and seamless integration with NetSuite’s core accounting functionality
NetSuite Fixed Assets Management enables you to maintain and control the complete asset lifecycle from creation to depreciation, revaluation and retirement. Its detailed asset management functionality supports multiple depreciation calculation types, handling of depreciating and non-depreciating asssets, maintenance schedules, lease and insurance. NetSuite Fixed Assets allows you the flexibility to select which accounting period to depreciate. As an example, with fixed assets seasonal withdrawal and depreciation, you can choose not to depreciate the asset using asset lifetime usage. Instead, you have the option to stop the asset depreciation during downtime. You can assign tax depreciation methods to an asset. These assignments enable tax reporting or corporate reporting methods to be tracked on the asset. Tight integration with NetSuite Financials creates accounting entries and fixed assets from purchases to help ensure that no equipment slips through the cracks
NetSuite’s project management solution enables project managers and team members to collaborate on projects and maintain current and accurate project status at all times, allowing managers to proactively identify and resolve potential issues with each engagement.
With NetSuite’s cloud-based solution, stakeholders can see, monitor and manage project status anytime, anywhere. By delivering complete visibility and control, NetSuite’s project management solution gives you real-time access to all of your project information. The result is a significantly improved project completion record, more satisfied clients and reduced non-billable work.
Optimize your procurement process for cost certainty with workflow driven approval routings
Purchasing can be a time-consuming and inefficient ordeal, especially when requests for goods and services have to be processed manually using a combination of phone calls, emails, paper catalogs and faxes. NetSuite’s procurement solution helps companies buy goods and services at the best cost and in a timely manner by saving employees’ valuable time with easy-to-use capabilities, reducing costs by channeling purchases to approved suppliers and pre-negotiated contracts, and improving visibility by rendering real-time information into company spend and vendor performance.
NetSuite also streamlines and improves the accuracy of the procure-to-pay process by automating and linking key procurement transactions and providing approval and matching workflows to support internal controls and compliance requirements.
Order Management CRM
NetSuite’s order management capabilities help streamline your order processing by eliminating manual bottlenecks, preventing errors and establishing a smooth flow from sales quote to order fulfillment ensuring timely invoicing and payment. NetSuite’s order and billing management capabilities integrate your sales, finance and fulfillment teams—improving quote accuracy, eliminating billing errors, strengthening revenue recognition processes and driving fulfillment accuracy and efficiency.
Supply Chain Planning
Virtually every company that manages a modern supply chain will be doing so across multiple continents and time zones, but how do you do that with a single application? NetSuite’s manufacturing, distribution and supply chain management capabilities are all built on the premise that the physical location that a product is made or stored in should be irrelevant to your decision making process—it may add to your lead time, but we let you manage all with ease.
Planning your supply chain is a delicate process of trying to balance demand and supply, potentially across the globe, in a way that provides your company with the right combination of cost control, lead times and service level. NetSuite uses advanced inventory management and demand planning techniques to help you make the right decisions and increase your on time delivery metrics. Each location where you store inventory can be set up with unique parameters to deliver unprecedented control over your supply chain.
Reporting and Business Intelligence
Getting an accurate view of the business is challenging. Information is stored across multiple, disparate systems and manually based data management processes are time- consuming and error-prone. From the executive level to the front lines, effective decision-making is compromised without reliable, timely data.
NetSuite Business Intelligence provides the power of built-in, real-time dashboards, reporting and analysis across all the integrated processes within the software suite. Realizing true value-added insights, business users gain real-time visibility to identify issues, trends and opportunities and instantly drill down to the underlying transaction to take action.
- Key Benefits
- Real-time transparency into company performance across all business functions — from summary level to transaction level.
- A single version of the truth with all of your data residing in a single source.
- Self-serve, personalized experience with easy-to-use reporting tools without requiring programming or technical resources.
- On-the-go access via web browser and mobile device.
With thousands of successful implementations, Oracle NetSuite has a deep understanding of manufacturing businesses across all sectors and the many challenges they face. As the pace of change in business accelerates— especially for those still relying on aged, onpremise ERP systems, manufacturers are struggling to keep up. While they strive to improve business performance and increase customer satisfaction in an increasingly competitive environment, they struggle with:
- Metrics based on unreliable data.
- Ineffective inventory utilization.
- Difficulty expanding into multiple channels.
- Inefficient order processes and inaccuracies.
- Inconsistent order orchestration and lack of inventory visibility.
- Manual processes that cannot scale
Human Capital Management
SuitePeople is a Human Resources offering natively built on the NetSuite unified cloud suite. Now, businesses can benefit from a single platform to manage their ERP, CRM, PSA, omnichannel commerce and HR. SuitePeople drives efficiency by integrating HR functionality into the same suite that companies use to run every aspect of their business, thus eliminating repetitive and manual processes. SuitePeople offers powerful functionality for organizations to manage their HR and workforce management processes, and an exceptional employee experience to complete most everyday tasks. It leverages the NetSuite platform to provide customizable workflows and