Control of Work software vendors in the Oil and Gas industry has been saved
Control of Work software vendors in the Oil and Gas industry
A market study
This publication looks at a cross-section of vendors that provide Control of Work software solutions to the Oil and Gas industry. We looked at each vendor and its solution against functional, technical, operational and strategic dimensions to provide some insight into the types of vendors who operate in this market.
27 March 2018
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- The Oil and Gas industry focus on Environment, Health and Safety
- The demand for tailored, industry-specific solutions
- Control of Work software solutions for the Oil and Gas industry
- More information
The Oil and Gas industry focus on Environment, Health and Safety
The Oil and Gas industry, like many in the Energy and Resources sector, has a strong focus on Environment, Health and Safety (EHS) as a means of driving operational excellence and ensuring employees have a safe place to work.
Companies who operate in the industry link many of their core values to ensuring that employees are safe and that their operations limit the impact on the natural environment. There is much at stake, with failures in the management of EHS being responsible in the past for devastating environmental disasters and loss of life.
Stringent regulation and an industry mantra of ‘safety first’ has driven the role of EHS deep into the core fabric of organisational culture and is interwoven into all aspects of management and operations across the industry. Likewise, software systems which support the management of EHS are an integral part of operations and organisational risk management.
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The demand for tailored, industry-specific solutions
Like many asset intensive industries, companies in the Oil and Gas industry are underpinned by numerous enterprise grade Information Technology (IT) and Operational Technology (OT) solutions, typically from large global software vendors. Large Enterprise Resource Planning (ERP) solutions dominate the core operational and back-office functions of most large Oil and Gas companies, surrounded by an ecosystem of industry or capability specific solutions for specific IT and OT requirements. Many of the large ERP solutions incorporate EHS either as an additional module or included within the core packages.
Often, these solutions will fit a large number of use cases across varied industries. Typically, the EHS solutions included with ERP packages are broad in functional scope but have a smaller focus internally for the large ERP vendors. The demand for tailored, industry specific solutions opens the door for an ecosystem of industry specialist and capability-focused software vendors to enter the market and provide customers with specific solutions to meet their requirements.
Control of Work software solutions for the Oil and Gas industry
Likewise, within the EHS domain there are numerous sub-domains of capability and even more specialist solutions and vendors available. For example, there is a market for Control of Work (CoW) solutions, specific to the Oil and Gas industry, encompassing people, process and asset safety management capabilities that support operational risk management and work-flow control of potentially hazardous activities.
The move towards increased integration and alignment between IT and OT in the Oil and Gas industry is a trend seen across the Energy and Resources sector at large. Driving forces behind the move include the desire for increased operational excellence, improved decision support capabilities and cost reduction. The ability to manage complex work-flows and approvals and provide aggregated information to support risk management and decision making is the essence of Control of Work.
The promise of increased operational excellence and reduced cost is expected to continue to drive growth in the CoW market. Large global ERP, EHS and Enterprise Asset Management (EAM) software vendors are also likely to face increased competition from specialty CoW vendors. As such, this publication includes a cross-section of smaller, mid-sized and larger sized vendors who provide CoW software solutions to the Oil and Gas industry with the aim of sharing some insight into the types of vendors that operate in this market segment.
Do you want to know more on Control of Work software vendors? Please contact Bart Cornelissen via the details below.