8 Best Oil and Gas ERP Software of 2023 (Pricing, Pros, and Cons)

Last updated on by Editorial Staff
Oil and Gas ERP Software

Navigating through the umpty number of ERP software options can be difficult for oil and gas companies seeking the optimal solution for their unique needs.

With a plethora of choices available, selecting the right system that seamlessly aligns with your business objectives can seem like an uphill battle.

This blog post will give you an overview of the eight best oil and gas ERP software solutions on the market today. Then, it’ll briefly describe each option and its key features and pricing. By the end of this post, you’ll be equipped to decide which system is right for your business. So, without further ado, let’s get started!

What is Oil and Gas ERP Software?

Oil and gas ERP software is specialized ERP software for oil and gas industry. It helps companies manage their operations, track production data, and comply with regulations.

There are many different types of oil and gas ERP software, and each one serves a specific purpose. Common examples include production tracking, accounting, and regulatory compliance software.

Why Do You Need Oil and Gas ERP Software?

If you are running an oil and gas company, you know how important it is to have a sound enterprise resource planning system. An ERP system can help you manage your operations more effectively, track production data, and comply with regulations.

There are many different types of oil and gas ERP software on the market, each with its unique features. Therefore, you need to choose a system that will meet the specific needs of your business.

1. Oracle NetSuite

Oracle NetSuite is one of the leading ERP solutions for oil and gas companies. It offers a comprehensive suite of features that can meet the needs of businesses in all stages of growth.

Its key features include financial, revenue, inventory, and project management. NetSuite is also highly customizable, so it can be tailored to fit the specific needs of your business.

Webpage of Oracle NetSuite

Key features

Oracle NetSuite ERP is a comprehensive solution that helps oil and gas companies manage their business processes and operations more effectively. It offers a range of features that can help improve efficiency and optimize performance, including:

  • Financial management: Oracle NetSuite ERP helps oil and gas companies manage their finances more efficiently, allowing them to keep track of their revenue and expenses more effectively.
  • Inventory management: The software includes features that can help oil and gas industries manage their inventory more effectively, including tracking stock levels and monitoring stock movements.
  • Customer relationship management: Oracle NetSuite ERP includes features that can help manage organizations’ customer relationships more effectively, including tracking customer contact details and customer queries.
  • Spend management:  The software includes features that help oil and gas companies manage to spend more effectively, including tracking vendor contracts and purchase orders.
  • Business intelligence:  Oracle NetSuite ERP provides tools that can help organizations gain insights into their business operations, including the ability to generate reports and analytics.

Screenshots of Oracle NetSuite

Oracle NetSuite Dashboard
Business alerts page

Pricing

Its license cost starts at $999 per month, and the individual user cost is $99 per user per month.

Pricing as per edition

It offers three types of editions. They are categorized based on the number of users, the size of your organization, and the kind of functionalities you need.

  1. NetSuite Limited Edition is a pricing plan for small industries with ten user licenses and less than 50 employees.
  2. NetSuite Mid-market Edition is a pricing plan for medium industries with more than ten user licenses and who are required to have merged financial reports across multiple currencies.
  3. NetSuite Enterprise Edition is a pricing plan for large industries with more than 1,000 user licenses.

Likes

  • It provides comprehensive functionality, scalability, and ease of use
  • It can handle various business processes, from financials and procurement to manufacturing and sales
  • It can also be scaled up or down to meet the needs of organizations

Dislikes

  • Subscription cost is expensive
  • May not be the best fit for all businesses
  • It can also be challenging to customize and implement the software
  • Additional costs are charged for advanced modules and suite apps
  • Steep learning curve
  • Accuracy in reports is lacking
  • Difficult to find the required information
  • Backend work slows down while navigating

User opinion

Oracle NetSuite ERP for the oil and gas industries is a comprehensive system that can manage all aspects of the business, from accounting and financials to sales and operations.

It is perfect for midstream oil and gas companies that need a system that can handle the industry’s complexities. In addition, NetSuite is easy to use, so even employees with no prior experience with ERP systems can quickly get up to speed.

It includes all the features and functionality that oil and gas companies need to run their businesses effectively. Overall, Oracle NetSuite is the best oil and gas ERP software today.

2. Infor

Infor is a leading business software and services provider with over 20,000 customers in over 120 countries.

Infor’s products are designed to meet the unique needs of specific industries, and its solutions span the entire breadth of enterprise applications, including financials, human resources, manufacturing, sales, and service.

Webpage of Infor

Key features

Infor for Oil and Gas industry is a comprehensive software suite that helps midstream oil and gas companies manage their business operations more effectively. Some of its key features include:

  • Accounting and financial management:  Infor Oil and Gas provides a robust accounting system and financial management tools to help midstream companies keep track of their finances more effectively.
  • Project management: Infor Oil and Gas has a robust project management module to help midstream companies manage their projects more effectively.
  • Enterprise asset management:  Infor Oil and Gas includes a comprehensive enterprise asset management module to help midstream companies manage their assets more effectively.
  • Supply chain management: Infor Oil and Gas provides a robust supply chain management module to help midstream companies manage their supply chains more effectively.

Screenshots of Infor

Infor Executive Overview Page
Executive overview page

Pricing

Infor ERP pricing can vary depending on the purchased modules, the number of users, and the business size.

  • However, license costs will range from $795 per user to $1095 per user.
  • It does not provide the pricing details publicly. Contact the vendor for pricing information.

Likes

Infor is a popular ERP software provider that offers solutions for oil and gas industries. Their software is designed to help businesses manage their operations and comply with regulations.

  • Reliable and easy to use
  • Adaptable for specific needs
  • It is easy to handle accounting functionalities
  • It ensures the accuracy of the costs
  • Runs the monthly process smoothly

Dislikes

  • UI is not user-friendly
  • Prepares unstructured reports
  • Generation of financial statements is not up to the mark
  • The implementation process takes time, and the cost is high
  • Software processing speed depends on the network speed
  • Fewer integration options
  • You need to open more than one page to view site locations

Other details

DeploymentCloud, SaaS, Web-Based
Supported languagesArabic, Czech, Danish, German, English, French, Croatian, Hungarian, Italian, Japanese, Korean, Dutch, Polish, Portuguese, Slovak, Slovenian, Spanish, Serbian, Swedish, Chinese (Simplified)
Supported deviceMac, Linux, Andriod, iPhone, iPad
SupportEmail/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live Rep),
Chat
TrainingIn-person, Webinars, Documentation, Videos

User opinion

Infor is an excellent company with top-of-the-line oil and gas software. If you use their products, you will be impressed with the quality and functionality of their software.

Infor is a world leader in oil and gas software, and its products are used by some of the largest companies in the industry.

More about Infor

3. Enertia

Enertia is specially designed for the oil and gas industries. It offers a wide range of solutions to help oil and gas businesses manage their operations.

In addition, Enertia’s ERP software is designed to help companies to comply with regulations and manage their finances.

Webpage of Enertia

Key Features

  • Accounting and finance –  Enertia helps businesses manage their finances and comply with regulations.
  • Land, contracts, mapping – Software is designed to help businesses manage their land, contracts, and mapping.
  • Production – Software is designed to help businesses manage their production.
  • Reporting and integration –  Software is designed to help businesses with reporting and integration.

Pricing

Pricing mainly depends on functionality, consulting, and hosting types. To get a custom quote, you need to contact Enertia.

Likes

  • It provides numerous features for oil and gas companies
  • It enables us to keep track of all essential information
  • User-friendly interface

Dislikes

  • The software is a little bit slow
  • System requires some upgrading
  • Process timing is slow
  • Reporting and customization need improvement
  • Frequent system errors keep occurring

User opinion

Enertia ERP is one of the top oil and gas software providers. It offers comprehensive functionality for managing all aspects of the business, from exploration and production to transportation and marketing.

It’s effortless to use, which helps reduce training time and costs. The customer service is excellent, and the company constantly works to improve the software. Overall, Enertia ERP is a perfect choice for oil and gas companies.

4. SAP Business One

SAP Business One is a software solution for small and midsize businesses. It offers a comprehensive suite of features covering everything from financials to production to customer relations, and it’s easy to use so you can get up and running quickly.

Webpage of Sap

Key features

  • Financial management – You can manage your finances more effectively with SAP Business One. The software provides comprehensive financial reporting and analysis tools to help you make better decisions.
  • Spend management – SAP Business One helps you manage your company’s spending more effectively. The software provides tools to track and control spending and budgeting and forecasting tools to help you plan for the future.
  • Supply chain management – SAP Business One provides powerful tools to manage your supply chain. The software can help you track inventory levels, manage supplier relationships, and optimize production processes.
  • Human capital management – SAP Business One includes tools to help you manage your human resources more effectively. For example, the software can help you track employee time and attendance and manage payroll and benefits administration.

Screenshots of SAP Business One

SAP Business One
Dashboard
SAP Business One Financial Management
Financial management

Pricing

Starting license package: Its starting price is $1357 per user for on-premise (maximum five users)

  • A price plan is generated for startups and small businesses
  • This license provides features for accounting, purchasing, item management, sales orders
  • You can upgrade to a ‘limited license’ or ‘professional license’ when your business grows.
  • Limited license package: If you want a limited license, then the price is $1666 per user
    • The limited license provides access to limited users to particular features like accounting.
  • Professional license package: To get a professional license, you need to pay $3213 per user
    • It provides unlimited access to all the features.

Likes

  • Automatic data entry
  • Integrates well with other apps
  • Customizable features

Dislikes

  • Expensive licensing
  • Complex software and a steep learning curve
  • Limited Human Capital Management functionalities
  • Limited customization
  • Poor security features
  • Complicated reporting features
  • Difficulties in finding local support

Other details

DeploymentCloud, SaaS, Web-Based
Supported languagesArabic, Czech, Danish, German, English, French, Croatian, Hungarian, Italian, Japanese, Korean, Dutch, Polish, Portuguese, Slovak, Slovenian, Spanish, Serbian, Swedish, Chinese (Simplified)
Supported deviceMac, Linux, Andriod, iPhone, iPad
SupportEmail/Help Desk, Knowledge Base, Phone Support, Chat
TrainingIn-Person, Webinars, Documentation, Videos, Live Online

User opinion

SAP Business One is an excellent option for small and midsize businesses. It has all the features and functionality you need to manage your business effectively, and it’s easy to use to get up and running quickly. We recommend SAP Business One to anyone looking for an ERP software solution.

5. IFS ERP

IFS oil and gas software company that provides ERP solutions to the energy industry. Some of the world’s largest oil and gas companies use IFS ERP software and is known for its innovation and customer-centric approach.

Webpage of IFS

Key features

  • Enterprise asset management helps companies manage their physical assets, such as wells, pipelines, and refineries, and their financial assets, such as leases and drilling rights. That allows companies to keep track of all their assets and make better decisions about where to invest.
  • Accounting and finance – IFS ERP provides a complete accounting and finance solution for oil and gas companies. That includes features such as project accounting, budgeting, and forecasting. It also consists of a comprehensive financial reporting module.
  • Service management – The software includes a module that helps companies manage their service contracts and operations. That includes asset tracking, work order management, and field service management.
  • Asset life cycle management – IFS ERP helps companies manage the life cycle of their assets, from planning and construction to decommissioning. That includes asset tracking, maintenance management, and disposal management.

Some screenshots of IFS

IFS Master Lobbies
Mater lobbies
Service management page of IFS
Service management page

Pricing

IFS has not mentioned pricing details publicly. Therefore, you need to contact them to get pricing details.

Likes

  • All-inclusive functionalities
  • Easily customizable
  • User-friendly software
  • IFS can be transferrable to excel

Dislikes

  • User interface is confusing
  • It is not affordable for all businesses
  • Difficult to set up the software
  • Complex documentation
  • Difficult to make the consolidation process
  • It takes more time to fix bugs
  • Lack of flexibility
  • Report generation is time-consuming
  • Difficult to access old data

User opinion

IFS ERP is one of the top oil and gas ERP software. It offers a comprehensive and customizable solution for the oil and gas industry. It is user-friendly and helps companies streamline their operations and improve efficiency.

More about IFS

6. Workday 

The software provides real-time insights into employee performance and productivity, allowing you to manage your workforce better and maximize output.

In addition, it simplifies and automates the expense reporting process, giving employees an inbuilt way to submit expenses while providing back-office teams with flexible tools to enforce spending policies and identify cost-saving opportunities.

Webpage of Workday

Key features

  • Human resources management
  • Spend management
  • Payroll
  • Planning
  • Analytics

Some screenshots of Workday

Workforce Planning of Workday
Workforce planning
Customer Orders of Workday
Customer orders
Budget Forecast Version Comparison of Workday
Budget forecast version comparison

Pricing

The vendor does not provide details. Contact the vendor to get details.

Likes

  • It allows administrators to upload a company background image
  • It helps you to generate spreadsheets from data and tables
  • Customizable to the company’s needs
  • Great tool for presenting information

Dislikes

  • Expensive user training courses
  • Tedious implementation process
  • Less clarity in navigation 
  • Slow and unresponsive at times
  • Difficult to troubleshoot issues at times
  • User experience should improve

Other details

DeploymentCloud, SaaS, Web-Based
Supported devicesMac, Windows, Android, iPhone, iPad
SupportEmail/Help Desk, Knowledge Base, Phone Support, 24/7 (Live Rep), Chat
TrainingIn-person, Live Online, Webinars, Documentation
Customer reviewsCapterra: 4.4 out of 5 (1212+ reviews)

User opinion

The Workday can access the best-in-class applications for finance, HR, and more – all built on a technology foundation you can trust. Artificial intelligence helps you empower decision-making at every level and solve your greatest business challenges. 

7. Oracle ERP

Oracle Enterprise Resource Planning (ERP) is a powerful tool that can help businesses predict, detect, and act on new situations. Its advanced analytics capabilities enable users to identify trends and patterns that may indicate new opportunities or threats.

Webpage of Orcale

Key features

  • Reporting and analysis
  • Payables and assets
  • Revenue management
  • Joint venture management
  • Expense management

Pricing

Oracle has not mentioned pricing details publicly. Therefore, you need to contact them to get pricing details.

Likes

  • Easy to use
  • Reports generated are on time
  • Convenient way and professional

Dislikes

  • Modification and cancelation of SOs should be easier
  • The cancellations should be easily reflected on inventory shipments
  • Network perimeter is missing in ERP
  • The software is sluggish
  • Modules cannot be customized
  • Many bugs can be encountered while working 
  • Very few training materials available for users

User opinion

Oracle Enterprise Resource Planning can automate and reduce the risk of errors by eliminating manual processes. That helps to free up valuable resources and simplify and speed up everyday work, allowing employees to focus on more important tasks.

In addition, Oracle ERP can help businesses launch new business models faster, enabling them to align with the competition and take advantage of emerging trends and technologies.

Oracle ERP provides a comprehensive solution for oil and gas businesses looking to streamline their operations.

8. Deltek Costpoint

Deltek Costpoint is a leading ERP software designed specifically for government contractors. Deltek ERP software provides a comprehensive solution to many industries, including oil and gas, to manage projects and finances, maintain compliance, and increase productivity.

Webpage of Deltek

Key features

  • Schedule management
  • Risk management
  • Project management
  • Cost management

Some screenshots of Deltek

Overview of Deltek
Project analysis
Direct Costs by Budget Version of Deltek
Direct costs by budget version
Utilization overview of Deltek
Utilization overview

Pricing 

Pricing is not mentioned on the website. Therefore, you need to contact them to get pricing details.

Likes

  • Software allows users to access their timecards and log times easily
  • Simple to use to track your hours worked
  • System is customizable
  • It can export directly to Excel as well as upload from Excel
  • Easy to navigate

Dislikes

  • User interface needs improvement for nonfinance and accounting users
  • Difficult to perform basic functions such as daily timesheets, expense reports, and approvals
  • For an enterprise solution, there are few options for individual sites
  • It could produce better reporting of amounts when there are negative entries
  • Features need to be improved
  • There are annoying messages while using the software
  • It is hard to create custom reports 
  • It is hard to search fields for employee data
  • There are no workflows or business rules regarding employee self-service for certain events

Other details

DeploymentCloud, SaaS, Web-Based
Supported devicesMac, Windows, Linux, Android, iPhone, iPad
Supported languages German, English, French, Dutch
Support24/7 (Live Rep), Chat
TrainingIn-person, Live Online, Webinars, Documentation
Customer reviewsCapterra: 4.0 out of 5 (204+reviews), G2: 4.0 out of 5 (216+reviews)

User opinion

Deltek Costpoint is an industry-leading ERP software that offers a comprehensive solution for government contractors looking to improve their project and financial management, maintain compliance, and increase productivity.

It is designed to increase productivity by streamlining workflows and automating manual processes. That includes time and expense management, procurement, and contract management. 

FAQs

What are the qualities of the best oil and gas ERP software?

The qualities of the best oil and gas ERP software are:
-It should be able to handle the complex needs of the oil and gas industry.
-It should be user-friendly so that users can quickly learn how to use it.
-It should have a robust reporting capability so users can get insights into their business.
-It should be able to integrate with other software systems used by the company.
-It should be scalable so it can grow with the company.

What should you look for in an oil and gas ERP system?

When choosing an oil and gas ERP system, it is essential to consider your company’s specific needs and requirements. Some features you may want to look for include comprehensive financial management, supply chain management, and project management capabilities.

What are the benefits of using an oil and gas ERP system?

Oil and gas ERP systems can offer several benefits to companies in the industry, including improved operational efficiency, enhanced decision-making, and increased profits.

Conclusion

The oil and gas industry is a complex and ever-changing landscape. Having the right tools to keep up with the competition is essential.

This blog post has outlined 8 of the best oil and gas ERP software options. Each of these solutions has its unique strengths that can benefit your business.

No matter your specific needs, there’s an oil and gas ERP software solution that can help you achieve your goals. So do your research and invest in the best tool for your business. It could be the difference between success and failure.

References