Monday Metric: Mobile Asset Management In Oil And Gas

By Shikhar Srivastava

This week’s analysis focuses on the issue of mobile technology and enterprise asset management (EAM) in the oil and gas industries.

Creating and unlocking value in an organization starts with knowing precisely where things stand, and where the opportunities for improvement lie.  To help, SAP’s Performance Benchmarking group publishes a short analysis each Monday, highlighting hot industry topics and high-impact strategies. 

KEY QUESTION: What impact does mobile technology have on asset management in Oil and Gas?

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KEY TAKEAWAY: Oil & Gas companies around the globe are working hard to increase efficiency in their operations, bring down the maintenance costs and ensure higher asset availability. Many, however, continue to struggle in asset management – for instance, lacking visibility into not only key factors such as equipment downtime but also available materials, skills, manpower and tools.

The negative impact on performance can be substantial.  On the other hand, best practice companies in the industry have noticeably better results.  As an example, based on recent SAP benchmarking analysis, Oil and Gas organizations that report a higher adoption of mobile asset management technologies have 81% higher margins. Similarly, organizations that have improved and automated asset data collection methods report 10% higher wrench time. 

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Note to readers: SAP’s Performance Benchmarking program is a strategic service sponsored by its Value Engineering organization. Originally launched in 2004 together with ASUG as a forum to exchange metrics and best practices, the program today has grown into a global effort and one of the largest such programs in the industry—with more than 12,000 participants from more than 4,000 companies and studies available in 12 languages. Participants receive—free of charge—customized and confidential benchmarking comparisons against industry peers as well as aggregate analyses. To participate in the SAP benchmarking program, visit https://valuemanagement.sap.com.