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IFS Applications for EPCI contractors offers the oil & gas industry a modern, proven, project-driven business solution for efficient handling of large modification and EPCI contracts. With projects and asset lifecycles in focus—from engineering and procurement to construction/fabrication and installation—IFS Applications for EPCI Contractors helps increase visibility and improve business performance.
EPCI is perhaps the most demanding business model yet conceived. Whether or not you are working under an actual EPCI contract or some other legal instrument, complex capital project management really requires the unique functionality that IFS Applications delivers.
Rosenberg WorleyParsons Erling Lange, Vice President Markets and Business Development talks about delivering quality EPCI projects and working with IFS. Rosenberg WorleyParsons is one of the major contractors within the oil and gas market on the Norwegian shelf. Rosenberg WorleyParsons serves a variety of market segments such as modules, modifications and repairs of ships and platforms, sub-sea installations and fabrication of structural steel and piping.
For most oil and gas industry contractors, projects are the cornerstone of their business, and being able to manage projects of various sizes and complexity is often key to success. Given their impact across the value chain, project-based parameters should control and determine schedules for engineering, procurement, document delivery, job setting and fabrication. An efficient flow of information amongst the different disciplines must be ensured. IFS Applications can deliver project ERP (enterprise resource planning), engineering software solutions, materials management, and document management. In IFS Applications, the project itself is the engine, ensuring high-level visibility and transparency throughout your enterprise.
Integration of engineering and purchasing/fabrication with other disciplines is always beneficial, but absolutely essential for oil & gas industry contractors. IFS Applications includes a central repository for multi-discipline engineering data, shared throughout the enterprise, ensuring efficient and error-free data handovers from engineering to purchasing, fabrication to installation and—in the event of last-minute design changes—from engineering to installation.
Traditional enterprise, or ERP, systems don’t adequately address sales & sub-contract complexities, potentially exposing an EPCI Contractor to undue risk. With IFS Applications, unlike with the traditional approach using purchase orders, users are able to handle complex contracts and unstructured deliverables using progress and invoicing rules. For example, subcontracts track more than just items received into inventory, but rather document complex agreements that define services scope and subsequent performance management, culminating in the application for payment process.
In IFS Applications, costs and revenues are budgeted, tracked and compared—not only in general ledger but project-by-project. This ensures real-time follow-up and tracking of incurred and actual costs, with reliable forecasting, both detailed and overall, based on EV principles, including ETC, EAC and S-curve. Managers look at near real-time project data and future performance projections, rather than just being presented—after the fact—with budget, schedule and specification results. IFS Applications helps you manage the future, not just the past.
IFS Applications for EPCI Contractors is a flexible, component- based industry solution that can be deployed as a stand-alone solution; integrated with existing corporate enterprise systems; or as a comprehensive IFS Applications deployment.
The solution delivers unique project, engineering, procurement and fabrication support, including a comprehensive, multi-discipline Engineering Register, all within the same integrated standard system.
IFS Applications for EPCI Contractors includes functionality for contract and project management, risk management, budgeting and forecasting, engineering, materials management, document management, fabrication and service management, all integrated with financials and human resources.
IFS’ technology for collaborative solutions and data exchange expand business processes out into your extended network of subcontractors, partners and customers. The solution includes interfacing tools for computer-aided design (CAD) applications and standard integrations to planning systems such as Oracle Primavera® and Microsoft® Project®.
IDC takes an in-depth look at big data and analytics technology to provide their perspective on the situation, future outlook, challenges and opportunities.
How EPCI contractors can identify technology designed to manage risk across design, fabrication and construction activities.