Five of the top seven global oil and gas companies use IBM Cognos software to gain visibility into their business, manage assets and drive performance. A major global oil company saved an estimated $140 million using IBM Cognos software to focus on customer profitability and retention.
Oil and gas organizations use IBM Cognos 8 Business Intelligence and IBM Cognos 8 Planning software and services to:
Drill the digital oil field
- Consolidate data from multiple oil and gas systems—production, reserves, accounting and well logs—into a single view of your operation based on common data definitions.
- Increase your ROI from ERP (such as SAP, and Oracle-PeopleSoft) and any platform (such as IBM and Microsoft).
- Identify trends, anomalies and opportunities, and model the effects of key business drivers, such as NYMEX prices, against various scenarios using IBM Cognos 8 Business Intelligence software.
Streamline and regulate financial processes
- Perform integrated operational and financial planning in real time for immediate visibility into resource requirements and future business results using IBM Cognos 8 Planning software.
- Automate workflow and aggregation by collecting volume and financial data from oil & gas source systems.
- Replace error-prone spreadsheets with a single, consistent version of corporate information.
- Structure your data and reporting processes to comply with Sarbanes Oxley and other regulatory compliance initiatives.
Manage the big crew change
- Understand the effect of 50 percent of the oil and gas workforce retiring in the next six years.
- Turn the challenge into a competitive advantage through effective succession planning.
- Get a view into key oil and gas workforce measures such as headcount and turnover, demographics, compensation and incentives, benefits and new talent recruitment using the IBM Cognos 8 Workforce Performance application.
Maximize supply chain efficiencies
- Monitor and analyze your supply chain with a view to controlling expenses going to labor, supplies, services and other areas across the chain.
- Identify and rein in rogue spending.
- Compare and benchmark oil and gas suppliers in terms of quality, delivery and price.
