Choosing the best ERP software for your oil and gas company can be daunting. It can be hard to know where to start with so many options.
Of course, you need a system that will meet the specific needs of your business, but how can you be sure that you’re making the right choice?
This blog post will give you an overview of the five best oil and gas ERP software solutions on the market today. Then, we’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 software is specialized software in the 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 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.
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.
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.
- NetSuite Limited Edition is a pricing plan for small industries with ten user licenses and less than 50 employees.
- 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.
- NetSuite Enterprise Edition is a pricing plan for large industries with more than 1000 user licenses.
Like
- 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.
Dislike
- Its subscription cost is expensive and may not be the best fit for all businesses.
- It can also be challenging to customize and implement the software.
- You need to pay the additional cost for advanced modules and suite apps.
Our 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’s 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.
And 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.
Key features
Infor Oil and gas 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 robust accounting 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.
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.
Like
Infor is a popular ERP software provider that offers oil and gas solutions. Their software is designed to help businesses manage their operations and comply with regulations.
- Infor’s ERP software is reliable and easy to use, and it can be adapted to meet your company’s specific needs.
- It is easy to handle accounting functionalities.
- It ensures the accuracy of the costs and runs the monthly process smoothly.
Dislike
- It does not have a user-friendly interface. It provides unstructured reports.
- Financial statement generation is not so good.
Our 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.
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.
Key Features
- Accounting and Financial – 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.
Like
- It provides numerous features for oil and gas companies. It enables us to keep track of all essential information.
- It has an easy user interface.
Dislike
- The software is a little bit slow.
Our 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.
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.
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 ‘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.
Like
- There is no need to do manual data entry, and it integrates well with other programs.
- It provides features according to the business need.
Dislike
- It is more expensive and complex software.
Our 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 their software and are known for their innovation and customer-centric approach.
Key features
- Enterprise asset management helps companies manage their physical assets, such as wells, pipelines, 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.
Pricing
IFS has not mentioned pricing details publicly. Therefore, you need to contact them to get pricing details.
Like
- IFS offers comprehensive functionalities, and it is easily customizable.
- It is user-friendly software.
Dislike
- It has a complex user interface.
- It is not affordable for all businesses.
Our 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.
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 5 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
