HOW TO REDUCE THE IMPACT OF HUMAN ERROR AND OTHER HEADACHES USING REAL-TIME ANALYTICS

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Originally Posted On: https://engagemobilize.com/field-operations/how-to-reduce-the-impact-of-human-error-and-other-headaches-using-real-time-analytics/

If ever there was a time and case for optimizing production, field operations, and supply chains in industrial environments, it’s now. Over the past year, managers and other stakeholders in sectors such as oil and gas production, energy, and renewables have endured headaches as disruptions in manufacturing, processing, and shipping threaten to destabilize vital industries.

You can eliminate a lot of the confusion and streamline all processes by transitioning to fully automated, end-to-end digital fintech solutions that allow you to make data-driven decisions in real-time. These business productivity suites were designed to coordinate communications and consolidate all processes related to:

• Production
• Planning
• Maintenance
• Scheduling and dispatch
• Inventory control
• Billing
• Service delivery

Most of us realize that when you consolidate and digitize core processes end-to-end, it saves time and money. However, there are a number of advantages that usually aren’t readily apparent until such systems are fully implemented.

When you install and deploy scalable, robust fintech solutions that automate and streamline critical processes, you reduce touchpoints that create time and money-wasting drags on production. This results in shorter setup times, lower production costs, and less downtime. The outcome is a leaner, more efficient operation.

Here’s how such platforms impact specific areas of your enterprise in ways that reduce the cost of doing business while boosting productivity, staff morale, and revenue generation. That’s a win-win situation all around.

You can’t generate revenue if you’re unable to produce goods and fulfill orders. As such, the ability to create automated workflows and scheduling is more than just a “nice-to-have” addition to your set of managerial tech tools. They’re indispensable aids that allow you to coordinate and manage tasks on both a macro and micro level.

Field tickets can be prioritized and scheduled according to a predetermined set of parameters that are based on historic data and outcomes. Job and maintenance schedules can be set up in advance and tasks timed to begin or end automatically. What’s more, such activities can be tailored in real-time and ramped up or scaled down as needed.

Workflow and process automation can be coordinated so that repetitive tasks run on time and more efficiently. Real-time alerts and push notifications can be automatically dispatched to eliminate unnecessary downtime and disruptions. Job costing, billable hours, and payroll can be coordinated with accounting platforms and analytics.

In combination with a shift toward Just-in-Time (JiT) inventory management practices, disruptions in shipping and manufacturing have depleted stock on hand and all but halted production in some sectors. Shortages in manpower and other issues that affect the acquisition of raw materials needed for production further exacerbate the problem, creating a Catch-22 situation.

This comes at a time when demand is at an all-time high and has led to unnecessary shortages that adversely impact service delivery, productivity, and overall company morale.

With automated inventory control systems that predictively anticipate these issues, you’re able to proactively address such potential issues and devise actionable workarounds before they become a problem. This improves fulfillment obligation rates on every level and reduces the resulting headaches exponentially.

Timely, accurate financial transactions are essential to supporting adequate cash flow and a healthy bottom line. Automated accounting suites streamline financial reporting and allow a level of customization and efficiency that’s difficult to achieve with traditional, static platforms.

Through the use of Bid Data, predictive analysis, and other automated innovations, you’ll run a more efficient operation while reducing costs. These systems also all but eliminate the problem of human error while providing oversight to prevent and root out fraud and other criminal activities.

The ability to conduct reporting and analysis that’s based on real-time data is nearly immeasurable. Such capabilities provide an accurate snapshot of where your business stands at any point in time.

This level of historic data analysis helps identify and predict trends, prevent bottlenecks, and allows you to devise strategies to minimize risk and increase revenue streams.

Not only that, real-time reporting provides you with information that directly impacts such critical processes and activities as shipping and other essential supply chain components. This data reporting includes:

• Weather forecasts
  Stock prices
  Fuel prices and availability
  Shipping delays
  Product or service updates

What’s more, such information can be coordinated or compiled, updated in real-time and accessed across all platforms, and processed to provide everything from status updates to forms and reports needed for tax filing and compliance audits.

As stakeholders in vital industries, you know that making timely, data-driven decisions is essential for controlling costs and boosting productivity without sacrificing outcomes.

The team at ENGAGE specializes in crafting E2E fintech solutions that are rooted in real-time analytics and automated business processes for industries as diverse as energy, waste management, and renewables in both government and the private sector.

While we’ve worked predominantly with companies in the oil and gas industry, we’re looking to branch out and offer enterprises like yours the same level of service and innovation. Schedule a consultation today and learn more about how we can help your company to become leaner and more efficient.

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Our automated processes run the gamut from E-ticketing and E-invoicing to fully automated computerized maintenance management software (CMMS) and inventory management systems.