As a company that specializes in the oil and gas industry, run by people who were raised in the oil and gas life, we know exactly how devastating a downturn can be. You were doing everything right, your field hands were more hardworking than ever, the money was rolling in, then gas prices plummet and everything changes.
Downturns are felt in every corner of the oil and gas industry. Some companies hunker down and go into survival mode, laying off employees and selling assets. Recognizing the fluctuation prone nature of the industry, they are simply hoping to stay alive until prices rebound. Companies who take this approach may or may not weather the storm. But even if they do, once the industry improves they will have to start from scratch, rebuilding to what they had before. On the other hand, the Oilfield Service companies who are wise enough to see this as a time to improve operational efficiencies will not only be better equipped to do more than just survive the storm, but will also be stronger and ahead of the game once things improve.
One of the easiest and most cost effective ways to do this is by investing in a field service software. If implemented around solid processes, this will not only improve efficiency in the long run, but will also cut costs short term. That's where Cantrell Jackson comes into play. Regardless of what service your company provides in the oilfield service industry, we have a software that can help you do more with less, as well as allow you to have a much better handle on the numbers that matter. These are the types of improvements you must make in order for you to keep functioning while gas prices are low, and be more profitable when they go back up. Here are a few of the ways we can help.
As the market goes down, competition goes up. The more competitors in your field, the more cutthroat that competition becomes. There are two things Cantrell Jackson software can do to help you stand out from that competition. First, by doing more with less. One of our customers recently told us our software and processes allows one person to more accurately process as many tickets as five people were able to process using their old methods, and in just a fraction of the time. Since the annual cost of the software is a fraction of what most companies are paying ticket entry people, this allows you to cut significant costs in an area that does not affect operational safety. Lowering your costs means you can be more competitive in your pricing without hurting your bottom line. Second, getting your tickets from entry to invoicing much sooner means you can collect your fees quicker. In a time where every part of the industry is hurting, getting your fees as quickly as possible may be the difference in getting paid, and not getting paid. Plus, the operational efficiency says to your customers that you have a well run business that they can trust.
These types of improvements are what Cantrell Jackson is all about. Take a look at the infographic below. Notice that at each step, small differences in our processes result in large differences overall.
One of the other areas a lot of companies don't think about when things are going well, but becomes vitally important when the bottom drops out, is having easy access to the information that helps you make sound business decisions. In each Cantrell Jackson software you have point and click access to built-in reporting at your fingertips. This helps you do things like knowing where your tickets and invoices are in each step of the process, so you can find the roadblocks that are keeping you from getting paid. Or maybe you want to see a comparison of invoices out for signature, and invoices out for billing. That report is ready to go. You can even drill down by operator, lease, all the way to the individual tickets if needed. This helps you see if you have employees who are losing you money instead of making it, or which rental items are most profitable. And these are just a couple of examples.
That being said, we know it sounds counter intuitive to invest in a new software at a time when the budget is tight. However, the reality is, it is an investment that can make the difference between thriving, or not surviving. If you are ready to learn more about how we can help you make the changes and improvements needed to help you survive the downturn, visit our website, or click here to schedule a free demo. It costs nothing to explore the possibilities, but could cost you everything if you don't.