September 1, 2020
Tracking Assets in the Oil & Gas Industry
The case for tracking assets in the oil and gas industry has never been stronger. Advancements in technology have made it possible for oil and gas companies to run more efficiently. In order to preserve that efficiency and maintain high standards of safety, the IT fixed assets that make those processes possible must be routinely serviced. Oil and gas companies are no different than any other company from the standpoint that they, too, are under pressure to keep their operating costs in check while keeping their production at a high level. An IT asset tracking platform is one of the best ways to ensure the efficiency of your operations, manage any potential risk or security issues that do arise, and ensure the safety of your equipment while continuing to meet standards of compliance.
Many of the IT assets that help keep oil and gas companies running smoothly routinely change hands, which makes it easy for them to go missing in action. Without a reliable system for tracking assets that compiles all of your comprehensive asset data in one location and serves it up in real time, it can be extremely difficult to pinpoint where those assets should be. What often happens is that your employees spend inordinate amounts of time trying to hunt down those missing IT assets. The ability to determine in seconds the expected location of any IT assets eliminates that negative impact to your productivity.
When IT assets aren’t properly maintained, they slow down or even break down. Slow-moving assets also can leave your company vulnerable to hackers. The stakes can be very high when you fall victim to a security breach. Tracking assets with a formal asset management system enables oil and gas companies to effectively outsource that function. You can set up custom alerts and notifications so you never miss critical updates and other maintenance. Some systems allow you to create work orders as well. The system stores the entire lifecycle of any asset, including its complete asset maintenance history, warranty expiration, insurance policy, lease or purchase information and value, among other details. And, because you’re keeping up with the preventive maintenance your IT assets require, you maximize the lifespan of these assets and avoid the costly repairs, rush orders for parts, and even replacements that can come from poor or nonexistent asset tracking procedures. And when you do order new IT assets, you can do so based on factual information – not guesswork about how many assets you think you might have, or what you think might be their current condition.
Some additional key benefits of tracking assets are:
- Organizing your data by specific projects or groups, which again saves time and eliminates frustration
- Establishing custom security based on location or employee
- Improving communication with your workers on-site in the field
Tracking assets through a mobile device provides you with the convenience of instant access from anywhere at any time. In the past, asset data was tied to our desktop computers, requiring employees to be in the office in order to pull up information on an asset. Now, it’s as easy as reaching for your smartphone or tablet. You can enter and verify information, view updates from other members of the team, create reports, schedule service and much more 24 hours a day.
Asset Panda’s approach to tracking assets is powerful, customizable, and flexible, yet streamlined and intuitive. It’s easy to learn and delivers significant savings of time and money. Most important, you’ll have the peace of mind that comes from knowing your critical assets are properly maintained – so you can focus on what you do best.