Opportunities in hydrocarbon accounting software
The cost of legacy hydrocarbon accounting software and production reporting systems is not simply about the prohibitive costs of procurement, deployment and upgrades. It’s about the opportunity cost incurred by the inability to respond in an agile fashion to changes in the business.
A traditional software solution like Energy Components can be breathtakingly expensive and take an age to implement. Changing it is often hard, requiring highly specialised skills, and just doing an upgrade can be surprisingly costly. Indeed, having to pay someone both for the upgraded software, and for implementing it, is evidence of a broken process. When you buy Office 365, you don’t have to pay Microsoft to upgrade you every time they make a new software release: it just happens.
Over the past ten years we’ve saved an increasing number of clients from the problems and pain of legacy systems. We’ve delivered a modern, cloud-native, fully configurable platform that lets them make changes quickly and easily, without coding. Our solution is evolving, and regularly delivering new features without problems or hassle. We’ve demonstrated that the cost of change is really, really low relative to the ongoing costs of feeding the legacy beast.
We live and work in a fast-moving world and we don’t want anyone to be left behind. Our industry is too important to be artificially limited in what it can deliver. Sticking with legacy systems, paying for upgrades, and managing performance as assets change and agreements evolve, is no longer necessary. A new world awaits.
When we started the development of the EnergySys Cloud Platform, we took some time to look at the problems with traditional solutions. What’s intriguing is that we started that job some ten years ago, and legacy systems still exhibit a lot of the same problems.
We felt that it had to be possible to do it better. It had to be possible to create a system that would allow the configuration of any asset on one standard platform. That it had to be possible to do upgrades of the core platform without disrupting a customer’s configuration. And to keep delivering innovation and new features at no additional cost and without any hassle. We didn’t want our customers to have to worry about procuring and managing infrastructure and backups and disaster recovery. And we didn’t want them trying to work out how many servers they’d need to run their business.
Most of all, we wanted to change the business model. We wanted to minimise the work required to deliver a solution, so that our partners could focus on services that truly add value. Instead of teams of ten and years of implementation, we wanted to be able to implement complex systems having thousands of wells in under six months with two people.
As a result of this vision, our focus changed from man-time services to technology provision. We made it possible for customers to configure entire assets themselves and created a market for partners to deliver systems on the EnergySys Cloud Platform. We made it possible for customers to have solutions that align exactly with their business, now and in the future.
Finally, we wanted customers to stay on EnergySys because they love the platform and they love the service. We don’t want them to stay because we lock down their data in proprietary formats. We support open, secure data integration. So, you can use the tools you love like Spotfire and Microsoft Excel and PowerBI to interrogate, extract and analyse your data.
The future of hydrocarbon accounting software
Legacy HCA is a pain, but changing it is both possible and extremely cost-effective. We know that the sunk cost argument is a difficult one, but there’s neither need nor sense in pouring good money after bad. We have a proven migration service and a great team of partners. There’s never been a better time to move to a modern solution.
Don’t wait to find out what your legacy system provider is going to charge you next week. Get a proper upgrade. Move to the EnergySys Cloud Platform.
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We are delighted to announce the appointment of two new Directors to the UK board. As part of a long-term growth plan, Kirsty and Stuart will help the business develop a strong partner network and support for oil and gas businesses looking at energy transition.
We have a fantastic relationship with AWS, relying on their infrastructure to power the EnergySys Cloud Platform. Together we have a strong history of delivering exceptional customer success in the energy industry. We currently hold data for over 56% of the North Sea Hydrocarbons and almost 70% of Australian production.