The Oil Field Service industry is in a time of unprecedented growth and globalization. Workers and companies alike are exposed to risk constantly meeting a complex array of local, national and international regulations and standards.
IMPACT ERM is the leading technology used by Global Oil Field Service companies to do all of the following:
- Lower exposure to risks
- Reduce losses
- Improve quality
- Raise productivity
- Provide comprehensive operation risk analysis
- Execute management systems and compliance initiatives
- Communicate High Value Learning Events and other pertinent information worldwide
Ways that Oil Field Companies use IMPACT ERM
For oil field services companies, IMPACT ERM is the ideal Operational Risk Management software solution - for single sites or across a worldwide enterprise. IMPACT can help organizations with Regulatory Compliance, Management System Execution, Interaction Management and Analytics & Reporting.
Regulatory Compliance
Oil field services companies know that keeping up with the latest regulatory compliance requires vigilance. They also know that fine tuning risk performance within the constraints of the complex array of regulatory and standards compliance (i.e. ISO 9001, ISO 14001, OSHAS 18001, etc.) across a global enterprise requires serious focus, communication and collaboration.
Trying to meet these demanding regulatory requirements affect local operations and global business strategies. Syntex’s customers in the Oil Field Services industry have found that they can meet these demands by using IMPACT software to standardize QHSE processes throughout their global operations. Lee Turner, VP of QHSE at Smith International recently said that, “The IMPACT software has become an integral part of the company’s QHSE Management Systems and ISO certifications, giving us more standardized QHSE processes around the globe. IMPACT will be a key tool in our efforts to develop a corporate culture where product quality, service quality, and HSE are just as important as other key business drivers such as revenue, EBIT, and market share.”
IMPACT can help oil field services companies strengthen risk mitigation competence and compliance by providing organizations with the tools and functionality it needs to identify the weaknesses in programs such as quality assurance, regulatory compliance, risk analysis, management of change, engineering design, and asset maintenance.
We have a long-standing commitment to helping companies identify risks and opportunities for process improvement. IMPACT ERM helps oil field services companies in their compliance initiatives by helping to facilitate inspections, audits, findings and analysis delivering to management a high level of crucial and actionable information.
Management Systems Execution
The value that a solid management system brings is more than a measure of how well something is done. It can be the difference between staying in business or not. The outcome from well executed management systems designed for quality, environmental, health and safety not only helps reduce risk and loss but increases profitability over the long term and helps your organization maintain a lead over the competition.
IMPACT ERM helps oil field services companies facilitate the management of system elements, compliance, continuous improvement, communication, analysis and reporting around a variety of management systems. IMPACT ERM excels in enabling the execution of these programs and provides the functionality to track processes and systems, identify risks, and analyze and report on compliance, risks and performance as well as demonstrate due diligence when required.
IMPACT works with existing management systems providing the Enterprise Risk Management (ERM) backbone to centralize, prioritize and mitigate risk exposures that are identified from both “reactive” incident management and “proactive” audit, assessment, or observation processes. IMPACT can help your organization consolidate disparate management systems into a single-integrated database system enabling the entire organization in continuous process improvement.
Interaction Management
Communicating risk on a timely and immediate basis can be the difference of life or death for many situations. For “High Learning Value Events (HLVE)”, such as failures and near misses with catastrophic potential, IMPACT can trigger alerts that are immediately sent worldwide to every employee and contractor in the company who needs to know. ISO and Safety managers have the ability to confirm that action items from ISA and other QHSE audits are finished on time helping to ensure a safer workplace, improve QHSE performance and decrease the frequency and costs of audits.
IMPACT enables leadership to communicate the importance of risk identification and mitigation and ultimately raises the awareness of managing risk that employees face every day in the workplace and driving to and from the work. This leads to fewer accidents and injuries making your organization a better and safer place to work.
Analytics & Reporting
Turning data into actionable information is difficult and time consuming without the proper analytical and reporting tools. Collecting accurate and timely data is a horse of a different color. Without the data, an organization can not produce the proper metrics to track and prove accomplishments of their HSE and other management programs.
Business Value for Oil Field Companies
Measure, manage, and mitigate risk.
IMPACT ERM delivers capabilities for operations planning, incident, assessment, quality and environmental management, regulatory compliance assessment, and other risk management. Integrated communication and workflow processes non-intrusively engage leadership and workforce in reactive as well as proactive risk identification and execution of action items to help strengthen risk reduction systems. Oil Field Service companies of any size can rapidly and affordably deploy a standardized set of business processes based on industry best practices.
As these processes propagate safer, more efficient practices throughout the enterprise, quality and productivity increase. These factors are generally where the highest profit margins are found.
Build a consolidated register of risk.
Many manufacturers face the same dilemma – they have islands of data scattered across several systems throughout the enterprise but no easy, centralized means for access. These systems are loaded with information about oil field services processes, compliance and other pertinent data that can be leveraged to improve performance. Companies need a way to access the data and extract information easily to make collaborative, informed decisions fast and even in real-time. IMPACT software helps consolidate these management systems into a single-integrated database system interfacing with a variety of business systems.
Understand patterns of operations and performance.
IMPACT Exec Analytical & Reporting Tool provides sophisticated analysis, reporting and scenario development tools. They help Oil Field Service companies analyze past experience to more accurately predict future requirements or gaps within the performance management system. Gaps and requirements become clear – such as regulatory non-compliance or potential for loss. Your system then engages all employees in prioritization of remediation and execution of action items.
Summary
For oil field services companies, the risk could hardly be higher: increased competition, changing regulatory landscape, higher quality compliance standards and of course, the human element.
Today, these companies must also conduct and manage daily operations across far-flung enterprises. They must deal with globalization, regulatory compliance, heightened environmental pressures, mergers and acquisitions, and ever-changing business and market conditions. All of this combines to make operational risk management increasingly difficult.
These are precisely the reasons why oil field services companies around the world that are among the most dedicated to reducing risk and improving safety have chosen to deploy the Syntex IMPACT ERM® solution for enterprise risk management.
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or oil field specialist
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