2022 marked a year of record profits for the Energy industry. But leaders know commodity price surges have no bearing on future success. It’s time to secure longer-term value from the things you can control: your processes.
Against a backdrop of geopolitical and macroeconomic fluctuations, Energy leaders are racing to ramp up the speed, productivity, and profitability of their operations.
Enter process intelligence, the only way to:
Instantly uncover high-value improvement opportunities in your processes – at scale
Take automated, data-driven, and targeted actions to capture them
Continuously adapt your processes for infinite value generation
Sharpen your upstream, midstream and downstream processes for maximum efficiency.
Reduce manual rework: Resolve root causes such as outdated master data to increase labor productivity
Leverage automation: Use a data-driven assessment to spot automation opportunities, enabling continuous process improvements
Speed up cycle times: Create touchless invoices, POs and SOs
Track everything in one place: Oversee legal deadlines, missing or pending work permits, utilization, and project progress from one dashboard
Accelerate cash flow to boost new investments
Streamline warehousing and logistics: Ensure raw materials are high-quality, compliant with safety standards, and being routed effectively – whether on onshore platforms or subsurface locations
Sharpen inventory management: Track bottlenecks in real time to accelerate slow-moving inventory, and update safety stocks based on actual consumption and replenishment trends
Improve Days Payable Outstanding: Prevent early payments, and payment term mismatches to make sure you pay on time every time
Improve Days Sales Outstanding: Speed up collections through touchless invoicing, automated dunning notices, and by prioritizing customers by their likelihood to pay
Protect your business and its ability to grow exploration and production
Improve on-time, in-full delivery: Prioritize and action credit and delivery blocks for key customers making sure inventory keeps moving as expected
Reduce bad debt: Use real-time, data-driven credit limits to assess credit risk
Invoice every order: Automatically surface and analyze old unbilled orders to accelerate invoicing and ensure on-time future orders
Prevent underpayments: Ensure customers always pay full invoice amounts and prevent customers from taking cash discounts too late
Increase contract usage: Decrease Procurement spend and ensure high spend under management
Improve reliability with cross-system visibility, improved master data accuracy and intelligent prioritization
Boost asset performance: Align maintenance efforts with improvements in reliability via intelligent prioritization and reduction of schedule break-ins
Reduce waste and unexpected maintenance costs: By aligning master data, material planning, and labor estimates
Minimize risk: Improve employee safety practices and avoid costly penalties by driving compliance with EHS and inspection regulations and internal policies
Our dedicated Energy industry solutions team is ready to chat strategies when you are.
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