The transformation and optimization of business processes is a necessary prerequisite in the mining, oil, and gas industry. Although they are two distinct concepts, with substantially different implications, transformation and optimization often go hand in hand. Otherwise, why else would a company choose to transform or overhaul its process if not to optimize it or achieve the best results?
The need for transformation and optimization
The mining, oil, and gas industry is undergoing a radical change. This is primarily driven by certain macro trends that are out of the industry’s control. So rather than resist the change, businesses need to go with the flow. They need to transform and optimize. Change is the new normal. But why?
Some of the major reasons driving businesses in the industry to re-evaluate their practices are volatile prices, increasing costs, and rapidly changing regulations. In the face of these challenges, small to medium businesses and large corporations alike must change or die out. This is not just an unfounded assertion. This is backed up by cold, hard facts and researched data. According to a Forbes Insights/KPMG report, almost 93 percent of the survey respondents in the industry were of the opinion that, if they were to stay competitive, they would need to realign their business models with the realities of the marketplace.
How exactly should businesses transform and optimize processes?
The best way to go about transforming and optimizing business processes is to align people, processes, and technology. These three elements usually evolve independently but function interdependently. The two key areas where such an alignment is needed the most are capital projects and safety. However, companies must also look beyond these areas and introduce changes across the board.
Amidst all the challenges, there are several opportunities as well – opportunities that should not be overlooked. One of these is the recent progress in the ‘four pillars’ of Information Technology: cloud technology, mobility, big data, and social business. There are also several business process management tools that may be utilized in the transformation and optimization of processes.
Where we step in
Rowe SMG – due to its years of experience in the mining, oil, and gas industry – is ideally placed to address your transformation and optimization needs. We understand how organizations and processes function. We know how to build effective relationships and work with key stakeholders. We can help your organization meet the present challenges. Therefore, if you need assistance in running sustainable value optimization and improvement processes, Rowe SMG is the solution.