These days there is no shortage of global energy demand, but the energy industry is now struggling to adjust to the workload this has created. The current global energy crisis and government sanctions have certainly widened this gap, but the increase in drilling activity last year was simply too much for many of those involved in the energy industry.
The work is there – but the lack of employee resources has become the issue for many upstream and midstream energy companies.
Let’s talk about workforce constraints
Companies realize that they need to DO MORE, with LESS (which seems like an impossible task). Recruiting departments are laboring to land quality candidates willing to perform the demanding work found throughout the sector, and often there is a need to spend more on bonuses and wages to encourage field staff to stay. These increased costs cut into one place, the bottom line.
I’ve reached out to countless upstream companies only to find out they have had to close their doors. It’s not because they didn’t have work - it's because their capacity, limited by staffing constraints, was exceeded by the workload paired with inefficient paper-based management of their operations. They had no insight into their financials, their revenue leaks, or their resource costing to allow them to see a complete analysis of their business needs.
So, “what’s the hack?” Well, as mentioned above – do more, with less. But how can you do that effectively? You can invest more in your billable resources – and then optimize administration to make it easier for your back office to complete your revenue cycle.
Simplifying the capture of labor, equipment, and materials in the field, and digitally connecting it to your back-office. This automation ensures accuracy, traceability, and repeatability.
By using a transactional field management software like Aimsio – you automatically improve your processes and speed up your time to revenue. Being able to automate those administrative tasks saves you the (unbillable) time involved in redundant data entry, clerical mistakes, and invoicing delays. It also streamlines timesheet reconciliation and payroll – keeping things accurate and fast for your back-office administration.
This will come as no surprise, but for your field crews let them focus on what they're good at, doing revenue-generating work; not compiling paperwork! Keeping things simple in the field is the key ingredient and removes the guesswork and paper chasing for your field crew. Simplifying their tickets by allowing them to simply verify and submit the work they have done is what every crew member and site supervisor wants. No more looking for tickets or timesheets in the front seat of the crew truck or entering the wrong rate/information for a particular job. A couple of swipes on a tablet – and your crew has submitted all their time, labor, material consumption, change orders, POS, billables, and safety forms – all back to the office attached to THAT job.
Aimsio is the hack you've been looking for. It allows you to save money off additional administrative hires or administrative burden and invest it directly into growing your field workers as the billable money-maker for your organization.