Oil as gas companies currently face a volatile market. Yet, over time and regardless of the market environment, oil and gas executives have routinely identified cost control as one of their top challenges.
While some companies cut IT investments during a turbulent or depressed market, others have found that such a market is precisely the time when the cost-savings benefits that can be had with enterprise asset management (EAM) software will have the greatest impact.
These are the top 5 ways oil and gas companies are saving money with EAM solutions:
- Planned work
- Reducing spare parts
- Reducing equipment failures / improving uptime
- IIoT-enabled condition monitoring
- Warranty coverage