04 February 2025

Building Resilience: Data Capture Solutions for Oil & Gas During Challenging Times

In October 2024, BP posted its lowest quarterly profit in four years. It was a stark reminder that market volatility can have a gross impact on performance. Markets continue to be sensitive to geo-political turbulence as we head into 2025. Inflationary pressures and dips in consumer confidence remain further contributing to the sector’s instability and competitiveness. What’s the answer? Automation and better insight.

The risks associated with unstable global politics and even pandemics, will never go away, and will continue to put pressure on the strategy logistics firms adopt. Boardrooms around the world cite the importance of building businesses that can withstand and respond to market tensions. But how can they achieve this cost effectively? Over the last few years, we’ve witnessed the evolution of more innovative technologies that support improvements to supply chain management.

Many of these solutions are geared towards providing insights that can help teams understand imminent risks and stay ahead of the effects of market volatility. These include mobile data capture solutions, that support real-time, intelligent decision-making.

Driving productivity with data insights

In December, leaders from some of the world’s largest automative and logistics companies met at the ALSC Digital Strategies Europe conference to discuss why having accurate and timely data has become invaluable during periods of uncertainty. In short, it provides clarity.

Companies can better prepare for managing risk and ensure the actions they take will keep the supply chain moving. In the case of fuel delivery operations, mobile data capture solutions provide the real-time insights needed to make better decisions about stock management. Data can be interrogated to find the trends and patterns that can be used to forward plan adjustments. This means companies can do more of what is proven to work and eliminate guess work. Not only that, but by using software to eliminate paper-based processes, companies reduce human error and ensure that critical data is instantly accessible across teams. This increased accuracy boosts productivity and agility and is vital when margins are tight.

Accelerating billing cycles to improve cash flow

Cash flow management is a critical concern for oil and gas businesses, especially during economic downturns. That’s why mobile data capture systems, which digitize and streamline the billing process, are being adopted to overcome the challenges associated with traditional paper-based workflows. The greatest benefit is faster billing cycles.

By reducing the time between delivery and payment, improvements to cash flow can be made, providing companies with the financial stability needed to weather uncertain times.

Supporting remote operations during crises

The COVID-19 pandemic underscored the need for flexibility and remote capabilities. With many administrative staff working from home, businesses reliant on paper-based processes faced significant challenges. Mobile data capture solutions bridge this gap.

By digitizing critical workflows, teams can be given remote access to essential information. This ensures continuity and resilience, even in the face of widespread disruptions.

Optimizing inventory to reduce costs

Stockouts and excess inventory can have significant financial repercussions for the balance sheet. Fuel delivery companies are therefore looking for solutions that offer real-time inventory data. These systems provide the full line of sight through the supply chain. As a result, optimal stock levels can be maintained, and, when necessary, used to manage demand fluctuations.

When considering a return on investment, it’s helpful to look at the prime reasons early adopters cite - mobile data capture solutions are helping to minimize the unnecessary expenses associated with overstocking, while ensuring critical supplies are always available. It’s clear that the smooth running of operations, even in unpredictable circumstances, can make the difference between profit and loss. Enhanced inventory management is therefore a boon as it reduces costs incurred from disruption to service.

Minimizing waste and reducing environmental impact

Efficiency isn’t just about cutting costs; it’s also about sustainability. By leveraging real-time data, companies can optimize delivery routes[MOU1]  so less time is spent on the road. This reduces overall fuel consumption and avoids unnecessary trips. This not only lowers operational expenses but also helps companies meet environmental goals and regulatory requirements—a growing priority in today’s market. Plus, it reduces stress across the workforce.

Room for more strategic delivery

Administrative overheads are a drain on resources, particularly during challenging times. In the past, redundancy would have been used to balance the books. However, there are numerous firms that are bucking the trend by using mobile data capture systems to automate routine tasks creating more capacity to do strategic delivery.  

This leaner, more agile approach is helping fuel firms to deliver market change and be more competitive even when market pressures intensify. Building a resilient future In an industry as dynamic as oil and gas, resilience is not just a nice-to-have; it’s a necessity.

Mobile data capture solutions are rapidly becoming the cornerstone of modern, efficient, and adaptable operations. They provide the tools businesses need to adapt, streamline operations, and thrive, even in the most challenging environments. The oil and gas sector will continue to face challenges, of that there is no doubt, but with the right tools and strategies, businesses can build resilience and emerge stronger.

About the author – Gordon Hyland  

Gordon (54) has almost thirty years’ experience supporting customers with complex, field based, technology solutions. He has been with Touchstar Group for over seven years and became head of the Fuels Division in 2019. In his spare time he enjoys family life and his main passions are travel and skiing whenever possible.  

Contact Gordon at Gordon.hyland@touchstar.co.uk               

Contact Us

 


We retain the information you supply to us solely in order to deal with your query. We do not share your data outside of Touchstar Technologies and we do not use it for marketing purposes.

Please confirm to continue