RPA Can Help Oil & Gas Weather Industry Volatility


  • RPA Can Help Oil & Gas Weather
    Industry Volatility

We live in a world of uncertainty, a world in which COVID-19 continues to rage around us, disagreements between OPEC countries in early 2020 caused tension in the industry, and the world economy continues to suffer. This has resulted in unstable crude oil prices. In in the early months of 2020, the price of crude oil fell drastically. While these prices have rebounded, uncertainty still hovers like a spectre above the Oil & Gas industry.

Oil & Gas companies are working hard to navigate this unprecedented time in history, looking for ways to cut expenses as energy prices remain unstable. Cutting back on development, deferring projects to a future date, and focusing on regions that offer high tax incentives are all traditional tactics that help stem losses.

However, there is another solution that the Oil & Gas industry has previously been slow to adopt, yet can result in significant cost savings and increased productivity. It is the adoption of robotic process automation (RPA), which makes it possible for Oil & Gas companies to streamline processes and operations like never before.

What Is RPA?

RPA is an automation technology that uses intelligent software-based robots or “bots” to intelligently perform tasks that are important, yet repetitive and time-consuming. The result is that processes can be completed more quickly, while eliminating human error. This, in turn, results in increased productivity, lower costs, and the ability to free up employee time to complete high-value tasks.

How RPA Can Help

RPA can benefit upstream, midstream, and downstream Oil & Gas operations, improving and simplifying processes and so much more. From enhancing exploration and production with the use of powerful data analytics to monitoring field infrastructure and equipment to automating all aspects of shipping logistics, RPA can save thousands of human work hours. This leaves your employees with the time to analyze the data and make decisions that can mean the difference between just getting by and thriving. Here are some examples of how RPA can make a significant difference:

Enhanced Exploration

The interpretation of seismic data is critical when it comes to discovering potential drill sites. RPA algorithms can be set up to take raw seismic data, migrate and organize it and conduct a visual interpretation of that data, something that takes hours to do manually.

In addition, when exploratory wells are drilled and core samples are taken, the data from the samples can be fed into an RPA algorithm that can identify the presence of microfossils that are indicative of favorable geological layers for the presence of oil. In addition, the algorithm can analyze the porosity of the rock and estimate the amount of oil recovery that can be expected from cross-sectional images of the core samples.

Pipeline Monitoring

A great example can be seen with pipelines, which have become an increasingly important part of the transportation of oil and gas over long distances. RPA can be used to monitor and maintain thousands of kilometers of pipelines safely and accurately.

The data and reports that are sent in from field workers would take hours to go through manually. However, RPA can search through massive amounts of data within seconds, pulling meaningful insights from it that you then have time to review and analyze, so you can provide the best possible feedback to your field operators.

Optimization of Oilfield Services

Thanks to the Industrial Internet of Things (IIoT), sensors can be placed on all types of equipment, from service trucks to wells to chemical additive totes. RPA can then be programmed to analyze the data that comes in from these sensors, allowing intelligent cross-referencing of the chemicals, equipment and transport required in the field to the control of inventory and transportation management. In addition, RPA can be programmed to access data related to past safety incidents to determine systemic root causes so they can be addressed, improving overall safety in the field.

Predictive Maintenance

RPA can be programmed to take the unstructured data from operator logs and cross-reference that with the design specifications of the equipment, historical operational data, and records related to inspections and repair. The analysis of this data over time will allow the software to create a maintenance schedule for all equipment and automatically create and send out work orders for maintenance tasks as they are needed. This will prevent equipment downtime and ensure the equipment continues in good operation for its expected operational lifetime.

How to Get Onboard with RPA

Adopting RPA to automate processes and improve data management is a critical part of decreasing costs, increasing productivity and improving your bottom line. This means that RPA adoption is also a critical aspect of weathering the price fluctuations in crude oil as we ride out this COVID-19 pandemic and beyond.

However, the adoption of RPA has to be approached in the right way. It is vital that you assess your business and operational objectives and determine which processes should be automated first to provide you with the greatest advantage. One of the best things about RPA technology is that it can be customized to suit your unique circumstances and can be scaled to meet the changing needs of your company and the industry in which you operate.

To find out more about what RPA can do for your Oil & Gas company and how we can help, reach out to Tangentia’s automation team today.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
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Monthly Tangentia Byte November 2020

  • Monthly Tangentia Byte
    November 2020







Tangentia Byte – November 2020



Limited Time Offer
Expand Your Workforce Without Expanding Your Budget
Buy Automation Anywhere software licensing today & get: 
15 Months for the price of 12 Months
Get in touch with a Tangentia team member to learn more.

Video:
Tangentia e-Invoicing Gateway (TeIG) Benefits
Automate and gain control over e-invoicing and GST compliance with Tangentia. We can help you navigate the GST Compliance Regulations and seamlessly move your business to e-Invoicing with zero operational disruption – 10 days guaranteed!
Watch the video to know how TeIG solution’s scalability, partner ecosystem, and integrations set us apart from the competition.
Article:
Get e-Invoicing compliant within 10 days
Time is running out for businesses in India that have an annual turnover greater than Rs 100 crores. If this applies to you, you have until January 1, 2021 to become compliant with the new mandatory e-Invoicing requirements that have been established by the government of India. With this sense of urgency hanging over you, you might be wondering how you’ll become compliant in time. Fortunately, there’s a way – and it’s easy.

Making Automation More Intelligent with Hyperautomation
Hyperautomation is a term that was introduced by Gartner. It encompasses a combination of complementary automation technologies – RPA, AI, ML & iBPMS. Gartner believes organizations need to adopt the concept of hyperautomation, which they labeled the No. 1 technology trend of 2020.
A Quick Guide to Warehouse Inventory Management in 2020
The holidays are fast approaching, and that means retailers and wholesalers must be efficient in organizing their products and managing the inventory of their products.
Read a brief guide to help you understand the basics of warehouse inventory management.
Book a free website audit to see if your website meets Ontario AODA Compliance standards.
Tangentia along with Automation Anywhere are proud sponsors & partners of the Cloud – The Digital Infrastructure organized by TechCircle.
Mark your calendar for the 27th of November 2020 and be a part of this virtual summit that brings together industry experts to deliberate on the future of cloud, its implementation, challenges and solutions. 
Our team is growing and looking for talented individuals in India and Canada who have a passion for technology, innovation and growing their careers.
Current Positions:
Network Administrator Apply Now
RPA Developer Apply Now
Account Executive Apply Now
Business Analyst (Toronto) Apply Now
Project Manager (RPA & AI) Apply Now






Tangentia Byte – November 2020



Limited Time Offer
Expand Your Workforce Without Expanding Your Budget
Buy Automation Anywhere software licensing today & get: 
15 Months for the price of 12 Months
Get in touch with a Tangentia team member to learn more.

Video:
Tangentia e-Invoicing Gateway (TeIG) Benefits
Automate and gain control over e-invoicing and GST compliance with Tangentia. We can help you navigate the GST Compliance Regulations and seamlessly move your business to e-Invoicing with zero operational disruption – 10 days guaranteed!
Watch the video to know how TeIG solution’s scalability, partner ecosystem, and integrations set us apart from the competition.
Article:
Get e-Invoicing compliant within 10 days
Time is running out for businesses in India that have an annual turnover greater than Rs 100 crores. If this applies to you, you have until January 1, 2021 to become compliant with the new mandatory e-Invoicing requirements that have been established by the government of India. With this sense of urgency hanging over you, you might be wondering how you’ll become compliant in time. Fortunately, there’s a way – and it’s easy.

Making Automation More Intelligent with Hyperautomation
Hyperautomation is a term that was introduced by Gartner. It encompasses a combination of complementary automation technologies – RPA, AI, ML & iBPMS. Gartner believes organizations need to adopt the concept of hyperautomation, which they labeled the No. 1 technology trend of 2020.
A Quick Guide to Warehouse Inventory Management in 2020
The holidays are fast approaching, and that means retailers and wholesalers must be efficient in organizing their products and managing the inventory of their products.
Read a brief guide to help you understand the basics of warehouse inventory management.
Book a free website audit to see if your website meets Ontario AODA Compliance standards.
Tangentia along with Automation Anywhere are proud sponsors & partners of the Cloud – The Digital Infrastructure organized by TechCircle.
Mark your calendar for the 27th of November 2020 and be a part of this virtual summit that brings together industry experts to deliberate on the future of cloud, its implementation, challenges and solutions. 
Our team is growing and looking for talented individuals in India and Canada who have a passion for technology, innovation and growing their careers.
Current Positions:
Network Administrator Apply Now
RPA Developer Apply Now
Account Executive Apply Now
Business Analyst (Toronto) Apply Now
Project Manager (RPA & AI) Apply Now

Get e-Invoicing compliant within 10 days


  • Get e-Invoicing compliant within 10 days

Time is running out for businesses in India that have an annual turnover greater than Rs 100 crores. If this applies to you, you have until January 1, 2021 to become compliant with the new mandatory e-Invoicing requirements that have been established by the government of India.
With this sense of urgency hanging over you, you might be wondering how you’ll become compliant in time. After all, the transition comes with its share of technological challenges. Fortunately, there’s a way – and it’s easy. But before we get to that, let’s take a look at what e-Invoicing is.

What is e-Invoicing?

Electronic invoicing – or e-Invoicing – is a method of digital invoicing that is becoming increasingly common in the B2B world. The e-Invoicing system operates as an integrated solution designed to ensure that one Enterprise Resource Planning (ERP) system can electronically generate and send an invoice to another ERP system. The receipt and processing of the invoice is automatic.

How e-Invoicing works

As of January 1, 2021, companies in India will be required to generate GST invoices from their ERP system. They will also be required to register their transactions with the government’s invoice registration portal. This portal verifies the invoice, ensures it has been digitally signed by the Goods and Services Tax Network (GSTN), and generates the signed e-Invoice. This signed e-Invoice will come with an Invoice Reference Number (IRN) and a Quick Response (QR) code and it will be issued to the relevant business for their records.

How companies can prepare for e-Invoicing

In order to ensure compliance with the new e-Invoicing requirements, Indian companies and global enterprises operating in India must update their ERP and accounting systems so they can effectively manage their GST reporting obligations. This is particularly challenging for businesses that manually generate e-Invoices.
However, the benefits that come with e-Invoicing go far beyond compliance with the Indian government’s new regulations. Replacing paper invoicing with e-Invoicing will save you money, improve your cash flow, ensure shorter payment cycles, reduce errors, and make it much easier to file your returns.

Tangentia e-Invoicing Gateway

To avoid the complexity of switching to e-Invoicing and to take full advantage of what the e-Invoicing system has to offer, Tangentia has developed their Tangentia e-Invoicing Gateway (TEG). This is a e-Invoicing system that provides you with some amazing features, such as:

  • A reconciliation dashboard to create a transparent, friction-less experience
  • Seamless integration with ERP and multiple options for ERP integration
  • Extensive validation checks and real-time monitoring to ensure the legal accuracy of all e-Invoice data and to avoid the duplication of invoices
  • Auto-exclusion of documents that are not required for IRN
  • Bulk generation of IRNs, making it an all-inclusive solution for end-to-end IRN and GST compliance
  • An India-specific GST compliance suite to automate GST returns, reconciliations, and e-way bills

Don’t let the idea of switching to e-Invoicing prevent you from becoming compliant. Automate your e-Invoicing process and gain control over GST compliance with Tangentia. We can help you navigate India’s GST compliance regulations and seamlessly move your business to e-Invoicing with zero operational disruption. And all of this within just 10 days.

About Tangentia

Tangentia provides services to customers on a global scale. They proudly count 12 Fortune 500 companies among their customers, and they have achieved over $10B in SaaS transactions over the past 16 years.
Contact us today for more information about how the Tangentia e-Invoicing Gateway can help you become IRN and GST compliant in time for the January 1, 2021 deadline.

Get Started Today

Tangentia is a Platinum Partner of IBM and well as partners with Automation Anywhere, UI Path, Blue Prism, Adobe, Microsoft, Salesforce, Amazon and leading enterprise software vendors. We work with customers globally with offices in Canada and India to implement their RPA strategies using an agile methodology.
Read Now

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