A recent game-changer in the oil sector is the declining price of oil, which puts a stranglehold on future growth for companies serving this sector.
The outlook is further darkened by Royal Dutch Shell PLC’s plan to cut hundreds of jobs at its oil sands operation in northern Alberta.
One way businesses can weather this downturn is to become savvier about today’s technology tools. Using the latest accounting and business management software systems, for example, not only refines the bidding process but also works to cut operational costs. (Read more about Field Service software here.)
Why is new technology better?
A business management software system has a single database. This database holds all of the information from all departments, integrating it together into one seamless collection of data with real-time updating. In the past, small businesses may have skirted the issue of upgrading to a business management software system, but the latest research indicates that business management software system are here to stay.
The software, in addition to its single database and real-time updating, offers transparency across departments. This way, data changes occur everywhere simultaneously, and data is more accurate. You can also track projects in terms of their profitability as well as identify problem areas that might prevent a project from being project on-time and on-budget.
Business management software system makes inventory control project costing, service management, processing change orders, tracking hourly wages, and knowing true profitability of a project easier. It also removes the need for your business to use multiple programs that don’t communicate – what if your accounting software was directly connected to your customer relationship management software? In a business management software system, it is.
Want to learn more about getting a business management software system or have comments? Contact Asyma Solutions Ltd today.