Given the rigid regulatory standards, energy companies must provide consistent, transparent, and dependable services. Because siloed data and processes render it inconceivable to generate a full understanding of their diverse, intricate procedures, these companies are vulnerable to costly risks. It is critically important that the energy industry develop a solution that will comprehensively connect and help simplify siloed processes.
To make informed decisions or optimal effectiveness and efficiency, gas utilities, pipeline companies, and other asset-centric businesses must break down operational silos. Establishing a fully integrated approach that eliminates traditional operation silos will improve the insights and collaborative efforts needed for effective planning, energy risk management, and decision-making.
At the core of this issue are countless decisions surrounding pipeline operations that rely on similar information and results from several areas. To overcome silos and improve collaboration, data management and trust in supporting systems are essential. The lack of shared data or faith in outside sources creates barriers. To fix this, trust and a single dependable source of information are needed for each individual's job duties, regardless of which silo they belong to.
Why Delayed Risk Management in the Energy Sector Can Be Costly
Regarding risk management in the energy sector, delays can have devastating, costly consequences. Imagine that there is a leak in the pipeline. Once workers make their rounds and discover the leak, they must report it. They will have to send emails, make phone calls, and utilize other methods to notify a technician about the problem and have them service the repair.
Throughout the process, several state and federal regulatory agencies oversee operations and policies. These processes can significantly impact the time it takes for a problem to be identified and solved.
Fortunately, having an automated process that functions in real-time when it comes to identifying problems and notifying you and others that the problem exists can save a significant amount of time. Additionally, it can reduce the likelihood of being fined due to delayed response times. Systems are available to track daily operations that ensure compliance and sound the alarm when a problem is detected.
Having to manually locate, isolate, and notify another party of a leak can take time. It may not seem like much, but even a few minutes can have a dramatic impact when it comes to the potential loss. That's why ServiceNow is the optimal solution for enterprise risk management in the energy industry.
ServiceNow offers a complete solution on a single platform. Rather than trying to funnel through the chain of events required to achieve the resolution, an automated system can help to perform all these steps instantly. As you incorporate automation, you can ensure that it is implemented into the workflow and that all necessary workers are notified at once.
Why ServiceNow Is the All-Encompassing Solution to Energy Enterprise Risk Management
All energy organizations are under immense pressure to offer top-quality products and performances at a lower cost for consumers. Fortunately, integrating energy risk management with ServiceNow can help improve the efficiency of your processes, effectively track industry-wide trends, and streamline workflows without getting stuck in silos.
The following are just three ways ServiceNow works to keep your organization aligned and provides simplified solutions for the modern energy industry’s complex challenges.
1. ServiceNow helps eliminate human error.
ServiceNow establishes a repeatable workflow that takes the potential for human error out of the equation. It also ensures the data flows appropriately and consistently every time.
2. ServiceNow improves the accuracy and efficiency of communication.
When using ServiceNow, the program automates a desired response, ensures that all the required parties receive an automated answer, and provides all affected parties with the information they need to continue working effectively.
3. ServiceNow allows accessible integration.
ServiceNow allows you to effectively integrate multiple systems all into one place quickly and accurately. This benefit ensures that all the correct information is right where it needs to be. Access to the information can even be scalable, allowing decision-makers to see more data that employees may not need.
Ready to Reap the Benefits of Using ServiceNow?
ServiceNow is a powerful platform for energy operations of all sizes. The ability to simplify complex processes and increase efficiency make it an invaluable tool for energy companies looking to streamline their workflow.
By leveraging ServiceNow's customizable and expansive feature set, organizations can save time, money, and resources while improving customer satisfaction. Companies operating in the energy industry should consider adopting ServiceNow as soon as possible to take advantage of its many benefits. To learn how to get started, contact the CTG team.
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