Creating Value through Digital Assets within Oil & Gas

Across the oil and gas industry, forces are at work creating a need to transition information from the current document-oriented system towards the more agile, digital one. The industry has long relied on individuals building their own personal expertise over the course of their career. Baby-boomers in particular are in possession of a great deal of industry “know-how,” and companies will need a way to transfer that knowledge to younger generations before the Boomers leave the workforce. Additionally, regulatory policies will force companies to modernize as organizations will need to share operational information that once was for internal eyes only. Finally, as in any industry, cost and margin pressures will continue to require personnel to do more with less.

To make this transition, a concerted effort must be put in place to move away from a document-centric and manual process execution paradigm.  The current focus on generating artifacts and manually passing them from one function to another will slowly pass into history.  Replacing it will be a data-centric, technology based, workflow-driven model focused on creating digital assets and automatically routing them where needed across multiple channels.

The digital asset shift will fundamentally change how an organization views and processes information.  Users will access information from any device with a consistent user experience. They will be able to view content aggregated from a variety of sources, ensuring that the information is complete and accurate.  This is known as the digital revolution, and it has already begun.

This revolution creates a significant change challenge for any organization; however the benefits of this transition far outweigh the costs in terms of:

  • Higher quality information leading to better decision making
  • Better information transparency where and when it is needed
  • Creation of a seamless experience for business users
  • Decreased cycle times for business process execution
  • Greater knowledge capture and sharing to support employees
  • More accurate and effective communications with stakeholders

These outcomes all create value and enable faster attainment of business, operational, and safety excellence throughout an organization.  However, the task of accomplishing this transformation can seem impossible when looking at a macro-level.  Here are a few steps you can take today to start moving along the path towards digital transformation:

  • Define where you are and where you want to be: Assess your organization and its readiness for transforming to a data centric and digital asset culture. Check out our digital readiness quiz here.
  • Know how to get where you’re going: Map the journey your organization and your stakeholders will undergo to achieve your desired state of digital adoption.
  • Engage everyone from leaders to line employees: Establish the organizational alignment necessary to execute your digital transformation.
  • Build, test, and iterate: Build an agile environment capable of incrementally moving your company along its digital transformation.
  • Shape a new culture: Remove the barriers inhibiting a successful transformation and embed new ways of thinking and doing into your organization

North Highland understands the challenges that a move to a digital asset centric organization can present.  We’ve done this across multiple organizations and have deep expertise in helping structure and drive implementations in this space, and are supporting many of the major players in the industry across the Oil & Gas value chain.

To learn more about implementing digital transformation across your organization, download our whitepaper, “Getting from Zero to Digital: How to Future-Proof Your Bottom Line Through Digital Transformation.”

Jeff Gilley headshot

This article was co-authored by Jeff Gilley.  Jeff has over 13 years of experience in complex business transformation projects across a range of industries, including: oil & gas, computer hardware, national security, media, and healthcare. Specific areas of expertise include project management, change management, business process management, business analysis, data management and business architecture. Jeff has a successful track record of improving business operations and leading successful systems integration projects that deliver business value.

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