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Malcolm Roach, Open Door Technology Inc.

Microsoft Dynamics NAV for Oilfield Services

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The Need for Multi-Country Functionality for the Oil and Gas Industry

As the need for more advanced technology grows for oilfield service companies, they find themselves with foreign subsidiaries or parents, both of which raise operations and reporting concerns.  Higher cost operations and widely fluctuating currencies place a premium on real-time and accurate information.  There isn’t time for waiting until month-end to review financial statements.  By the time that information is sanitized and blessed by the accounting department and the auditors, it could be two months old.  Managers and executives today need up-to-date information.

This next statement will sound like a sales statement, and I suppose it is, but this very situation is what Microsoft Dynamics NAV excels at. There are many reasons why Dynamics NAV is an excellent fit for the Oilfield Service industry:

  • Information is as real-time as the last post.
  • Financials and operating information, subject to the usual month-end adjustments that may happen, is as current as the last posted transaction.
  • Multi-currency data is quickly converted to home reporting currency or reports can be produced in an additional operations reporting currency.
  • Field information, such as field tickets,  can be quickly integrated and processed into the payroll and invoicing systems.
  • Automatic reports summarizing yesterday’s activities and the status of key operating and financial metrics can be delivered daily to any number of recipients with available drilldowns back to the detailed information.
  • Cost-effective dashboard options are available for both graphical and numerical results.
  • Key metrics can be displayed on the desktop of the accounting users to track information such as cash balance, cash flow, sales by location, etc.
  • Unlimited companies can be quickly consolidated at month-end with unlike account structures, differing year-ends, variable ownership percentages, and different currencies.

At the end of the day Microsoft Dynamics NAV gets you critical information when it is still useful and with minimal effort.  It is scalable into hundreds of concurrent users allowing you to get 90% of the functionality of a tier one system for 10% of the cost.

Microsoft Dynamics NAV is a great fit for Oilfield Service companies, especially those who operate in a variety of business models including oilfield equipment rental, manufacturing equipment, or field mobility applications.

We are proud to say we have worked with many Oilfield Service companies to not only provide creative solutions with Dynamics NAV, but also unique business processes to gain competitive advantages.

By Malcolm Roach of of Open Door Technology, provider of Microsoft Dynamics NAV software for the Oil and Gas industry.

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