How We Help Service Companies
The Lumos 365 digital platform for Engineering, Procurement and Construction (EPC) companies providing services to the Upstream Oil and Gas industry enables you to develop and maintain facilities in a significantly more efficient and cost-effective manner.
ENSURING COMPLIANCE AND COLLABORATION
We ensure compliance with regulatory policies – such as Local Content and taxation – through correct tax code allocations, as well as improving communication and collaboration across different business functions and different locations.
INCREASING COST RECOVERY AND CONTROLS
We increase your cost recovery from joint venture partners and your cost controls, overcoming incorrect cost allocation at source, poor tracking and inefficient business processes.
MINIMISE DISRUPTION, MAXIMISE REPORTING
We minimise the high business risk, disruption, costs and pain of transitioning across the value chain, while maximising reporting of business-critical information through finance and supply chain applications.
The Elements of our Service Company Support
TOPLINE BENEFITS FOR SERVICE COMPANIES
The Lumos 365 platform improves spend control, ensures compliance, enables reporting on all business-critical data, strengthens collaboration and embeds operational excellence across your business processes. The platform was designed from the ground up to support operational excellence within the Upstream Oil and Gas sector.
- Increase Spend Control
- Ensure Compliance
- Enable Reporting
- Strengthen Collaboration
- Build Internal Capability
Increase Spend Control
Spend control is a critical component of profitability. Volatile Oil and Gas pricing impacts the whole supply chain and puts pressure on the need to control costs when the price is low. The Lumos 365 platform benefits from many features such as delegation of authority, budget checking and contract spend monitoring. Lumos 365 has in-built best of breed workflows supporting these activities from a process and productivity perspective. The Lumos 365 platform encourages end user adoption by facilitating spend control information for action and reporting. This is securely available in tools already used on a daily basis, such as Microsoft Excel.
Ensure Compliance
The contractual obligations placed on service companies by the Operator demands compliance with Local Content and local tax regulations. A breach of these obligations can result in significant penalties. The Lumos 365 Management Reporting and Analytics module will facilitate clear reporting on operational matters affecting compliance ensuring that working capital contributes to production not penalties. The Lumos 365 platform will help ensure compliance with regulatory policies, such as Local Content and taxation through correct tax code allocations as part of our standard best practice templates.
Enable Reporting
Reporting in the Upstream Oil and Gas sector is traditionally manual and labour intensive. It can consume significant executive and management time which is often exacerbated by geographic differences between remote operational sites and HQ. The Lumos 365 platform, securely hosted in the Microsoft cloud, removes geographic challenges and includes many prebuilt and customisable reporting templates to address the needs of the business. CAPEX, OPEX, Production, AFE, Inventory and HSE are all included in our standard reporting templates. Lumos 365 delivers real-time capture, analysis and reporting of all business-critical data.
Strengthen Collaboration
Remote operations create unique challenges for the Oil and Gas sector. The Lumos 365 platform is hosted on the highly secure and scalable Microsoft cloud, all data is available to any connected device anywhere in the world. Built on Microsoft Business Central and natively integrated with Microsoft SharePoint and Office 365 our platform benefits from the Microsoft ecosystem. Contracts can be stored in the Lumos Information and Data Management module but transacted in our Supply Chain module. Invoices can be approved through Microsoft Outlook.
Build Internal Capability
In a highly regulated industry, internal knowledge management and clear processes are essential. Critical information is spread throughout the team at remote fields and assets. This information must be retained and readily accessible to support rotating shifts for effective and compliant handovers. This will not support only day to day operations but increased knowledge management. The Lumos 365 Information and Data Management module, built on Microsoft SharePoint, facilitates control and retention of business-critical data with secure access from any connected device anywhere in the world. Information can also be synchronised for assets or fields without internet access.
TOPLINE BENEFITS FOR SERVICE COMPANIES
The Lumos 365 platform improves spend control, ensures compliance, enables reporting on all business-critical data, strengthens collaboration and embeds operational excellence across your business processes. The platform was designed from the ground up to support operational excellence within the Upstream Oil and Gas sector.
Increase Spend Control
Spend control is a critical component of profitability. Volatile Oil and Gas pricing impacts the whole supply chain and puts pressure on the need to control costs when the price is low. The Lumos 365 platform benefits from many features such as delegation of authority, budget checking and contract spend monitoring. Lumos 365 has in-built best of breed workflows supporting these activities from a process and productivity perspective. The Lumos 365 platform encourages end user adoption by facilitating spend control information for action and reporting. This is securely available in tools already used on a daily basis, such as Microsoft Excel.
Ensure Compliance
The contractual obligations placed on service companies by the Operator demands compliance with Local Content and local tax regulations. A breach of these obligations can result in significant penalties. The Lumos 365 Management Reporting and Analytics module will facilitate clear reporting on operational matters affecting compliance ensuring that working capital contributes to production not penalties. The Lumos 365 platform will help ensure compliance with regulatory policies, such as Local Content and taxation through correct tax code allocations as part of our standard best practice templates.
Enable Reporting
Reporting in the Upstream Oil and Gas sector is traditionally manual and labour intensive. It can consume significant executive and management time which is often exacerbated by geographic differences between remote operational sites and HQ. The Lumos 365 platform, securely hosted in the Microsoft cloud, removes geographic challenges and includes many prebuilt and customisable reporting templates to address the needs of the business. CAPEX, OPEX, Production, AFE, Inventory and HSE are all included in our standard reporting templates. Lumos 365 delivers real-time capture, analysis and reporting of all business-critical data.
Strengthen Collaboration
Remote operations create unique challenges for the Oil and Gas sector. The Lumos 365 platform is hosted on the highly secure and scalable Microsoft cloud, all data is available to any connected device anywhere in the world. Built on Microsoft Business Central and natively integrated with Microsoft SharePoint and Office 365 our platform benefits from the Microsoft ecosystem. Contracts can be stored in the Lumos Information and Data Management module but transacted in our Supply Chain module. Invoices can be approved through Microsoft Outlook.
Build Internal Capability
In a highly regulated industry, internal knowledge management and clear processes are essential. Critical information is spread throughout the team at remote fields and assets. This information must be retained and readily accessible to support rotating shifts for effective and compliant handovers. This will not support only day to day operations but increased knowledge management. The Lumos 365 Information and Data Management module, built on Microsoft SharePoint, facilitates control and retention of business-critical data with secure access from any connected device anywhere in the world. Information can also be synchronised for assets or fields without internet access.
HOW OUR CLOUD PLATFORM WORKS
From acquisition to abandonment, the Lumos 365 platform addresses and overcomes the challenges you face at every stage of the value chain. Cutting costs. Maximising efficiency. Extending agility. Our platform powers your business processes, adding more value to your operations.
ACQUIRE
Retrieving critical information from disparate systems with poor connectivity. Structuring financial master data. Extracting reports from acquired assets for analysis. Migrating financial and operational data. Utilising modules designed specifically to meet these challenges, our platform cuts cost, time and risk. MORE
EXPLORE
With a license granted, the need to structure, capture and manage a whole new raft of activities becomes imperative. Our modules create a sound financial supply chain system, laying the foundation for operational excellence moving forward to development and operation. MORE
APPRAISE
Getting a clear picture when spend visibility is poor. Retrieving, collating and exchanging information with third party service companies. Extracting and analysing management reports. It’s time and labour intensive. Our modules enable fast and easy spend tracking and data collaboration. MORE
DEVELOP
Managing significant CAPEX expenditure, JV partners, cost recovery, HSE, budgets and reporting creates the need to extend supply chain functionality to support and optimise the field development plan and sourcing. Our modules do just that, making management straightforward. MORE
OPERATE
This is where the foundations built earlier in the value chain with our platform really drive operational excellence. You gain control, cost recovery and compliance with process optimisation, while improving asset up time and reliability. MORE
TRADE
Poor control, recording and tracking of CAPEX, OPEX and G&A spend. Delayed delivery, poor sourcing, resources wastage and profit leakages. Compromised asset reliability and integrity. Lack of insights to support decision making. Our modules overcome every challenge. MORE
ABANDON
Cost-effective and efficient collation and aggregation of all asset data (contracts, compliance, financial, supply chain and plant) is critical. Our modules bring all this data together to maximise abandonment efficiency, save executive time and support due diligence. MORE
Let's Talk
To fast forward your business processes across the upstream oil and gas value chain, just get in touch.