Introduction

Contract Lifecycle Management (CLM) is a crucial process for organizations dealing with complex contracts across departments and locations. Effective management of contracts enhances transparency, reduces risks, improves compliance, and boosts earning. However, this can be challenging, especially for oil and gas companies operating in a highly regulated and unsure environment without using ERP solutions.

Seyfertsoft provides an ERP Solutions for CLM to an oil and gas service provider, helping them overcome challenges and achieve benefits.

About the Client Company:

The client company is a leading provider of oil and gas services, including engineering, procurement, construction, and project management.

They operate in Asia Pacific region and serve clients in the energy, hospitality, waste management, marine, transport, logistics, and fuel filling station sectors.

Their projects are complex and involve multiple campaigns, work packages, and work orders.

The company faces challenges such as responding to multi-year contract tracking, handovers between departments, compliance with customer-mandated documentation, and tracking personnel training and certification.

Challenges Faced:

1.The ability to respond to EOI/RFI/RFQ/RFP within a short notice while obtaining information from various departments ranging from Engineering, HSE, QA/QC, HR, etc.

2.Tracking of Multi-year Contracts which are complex and involve multiple campaigns, work packages, and work orders.

3.Handovers and handshakes that need to happen between various departments.

4.Merging of functional updates from various teams involved in execution and operations.

5.Compliance with various customer-mandated documentation at every stage of service delivery.

6.Tracking of trainings and certification of personnel involved in service delivery.

ERP solutions Provided:

Seyfertsoft offers an ERP solutions that addresses the client’s CLM challenges and increases efficiency. It includes features like Engineering, Material, HSE, HR, QS, Procurement, QAQC, Plants and Equipment, Planning, Finance, Operations, Inventory, and CRM. The solution streamlines the client’s CLM process, improves process integration among departments, and ensures compliance with industry regulations and customer documentation.

Implementation of the ERP Solutions:

Seyfertsoft provides the client with a CLM software solution using an ERP that integrates different contract management processes. The ERP solutions includes the following key features/modules:

1. Engineering module: This module manages engineering-related data like drawings, specifications, and work instructions. This module also facilitates collaboration between the engineering team and other departments, such as procurement and operations.
2. Material module: The material module deals with inventory management, procurement, and supply chain management. This module allows tracking of material requirements and purchase orders, as well as inventory levels and consumption rates.
3. HSE module: HSE module tracks and manages safety, environmental conformity, and risk mitigation strategy. This module helps manage incidents, risk assessments, audits, and training programs related to health, safety, and the environment.
4. HR module: The HR module deals with employee management and also helps track employee training and certification requirements.
5. QS module: The QS (Quantity Surveying) module deals with cost estimation, budgeting and cost savings. This module also helps track and manage the financial aspects of the project, such as billing and invoicing.
6. Procurement module: The procurement module deals with the acquisition of goods and services required for the project. This module facilitates effective vendor management by handling vendor data, selection, onboarding, contracts, purchase orders, and other procurement activities.
7. QAQC module: The QAQC (Quality Assurance and Quality Control) module helps manage inspections, testing, and quality assurance procedures.
8. Plant and Equipment module: The Plant and Equipment module deals with managing all the assets, consumables, and other tools used in the project. This module helps track maintenance schedules, repair and replacement needs, and usage rates.
9. Planning module: The Planning module deals with project planning and scheduling. This module helps manage the project timeline, milestones, and dependencies, as well as track progress and identify potential delays. This module also manages the day-to-day operations of the project, such as resource allocation, task assignment, and monitoring. It helps track functional data and productivity metrics.
10. CRM module: The CRM (Customer Relationship Management) module deals with managing the customer relationship and interactions. This module helps manage customer data, track interactions and communications, and provide insights into customer needs and preferences.

Dashboards: The ERP solutions also provides a great deal of insights using customer centric reports that are customized for the oil and gas service sector.

Results Achieved: After implementing the ERP solutions, the client experiences significant improvements in its CLM process, including:                                                                                  

1. Improved response time to EOI / RFI / RFQ / RFP by obtaining information from different departments in real-time.
2. Enhanced collaboration among different departments through better visibility of contracts and tracking of functional updates.
3. Streamlined tracking of multi-year contracts involving multiple campaigns, work packages, work orders, and compliance with customer-mandated documentation.
4. Improved tracking of trainings and certification of personnel involved in service delivery.                                                                            

Conclusion:

 Seyfertsoft’s ERP solutions improves efficiency, cost, vendor relationships, and the vendor management process for the client in the oil and gas industry. It streamlines workflows, ensures compliance with regulations and customer documentation, and enhances enterprise collaboration among departments.