Constantly evolving and intrinsically powered by innovation, the oil and gas industry is one of the most transformative sectors on the planet. Research and development is a major expense for companies of all sizes. The latest figures from Statista reveal just how immense spending is, reporting that in 2014 Exxon Mobil’s research and development costs amounted to US$971 million.
For companies wanting to arm themselves with a powerful competitive edge mobile apps are a hard hitting tool. As well as accelerating innovations they can also help oil and gas companies slash R&D costs. How? Read on for our guide to using handheld technology to up the ante.
Capture real-time data
By actively capturing real-time information during fulfillment and transportation processes, operations managers can gain valuable insight into the functionality of procedures. This data can then be used to develop bespoke solutions that actively boost productivity. Operations can change at the drop of a hat, which is why it’s so important for companies to use up-to-the-minute data when developing new innovations.
Automate the research process
Every year companies spend hundreds of millions of dollars researching new ways to optimise processes. This includes refining, maintenance/repairs, supply chain and distribution operations. Rather than channel a huge amount of manpower into manually analysing, recording and processing information, mobile apps can be used to automate the entire process.
Gain insight into company finances
By integrating mobile apps into the financial department oil and gas companies are able to review ROI in weeks, not months. Up-to-the-minute insight into expenses and profits is a guaranteed way to determine if resources are available to fast-track innovations, or fund additional research and development projects.
Mobilise R&D teams
Arming research and development teams with bespoke mobile apps will give them the flexibility to remain productive on the road. Whether they’re on-site or working remotely, they’ll be able to continue pioneering innovations from anywhere, at any time.
With oil and gas prices nowhere near as high as they used to be, it’s critical for companies to fast-track innovations and cut R&D costs wherever possible. As an industry-leading provider of a Model-Driven Platform-as-a-Service, appsFreedom exists to support the development of oil and gas specific apps that complement a multitude of industry specific back-end applications. From tracking internal operations to developing strategic budgets, mobile apps are a cast-iron way to stay competitive.