Capital-intensive industries like chemicals, utilities, oil and gas, and mining are facing rapid changes in supply and demand. These companies often struggle to maximize the value of their asset information to keep their facilities running profitably during any economic condition. Information is often too disorganized and scattered across too many (often competing) solutions to quickly and easily access and find insights. This leads to expensive rework and downtime. Delayed access to information negatively impacts how project, operations, and maintenance teams meet deadlines, work productively, and adhere to compliance requirements – resulting in millions in lost revenue.
According to the Forrester Consulting report “The Total Economic Impact of SAP Solution Extensions for Asset-Intensive Industries,” it’s possible to break through this asset information trap. A unified, enterprise-wide core system of asset information management and master data governance can help capital-intensive organizations set the foundation they need to seize a US$17.7 million edge spread across the next three years.
Faced with these challenges, many businesses are recognizing the value of enterprise content management and master data governance when responding to demand highs and lows. Unifying enterprise content management and master data governance in an integrated solution consolidates everything from spreadsheets, emails, and test results, to controlled CAD drawings, operations and maintenance procedures, and asset information into one source. One executive surveyed by Forrester Consulting shared that providing such business-wide access to information helps ensure that the right person is sent to the right job at the right time with the right equipment, tools, and training.
For example, OpenText™ Extended ECM for SAP® Solutions and the add-on for Capital Projects and Operations allows organizations to connect a wide range of structured and unstructured content and integrate it with their existing SAP deployments. Operations users can quickly search for specific content about equipment, parts, or processes as key data attributes are associated with source engineering and process documents. Providing operations and maintenance employees with an efficient way to find the correct information they need ensures that they spend less time searching and more time on operations tasks. Furthermore, the likelihood that they use incorrect information to perform tasks declines, reducing rework while improving asset uptime revenues.
Bringing an information advantage in a market where every dollar counts
Let’s face it: capital-intensive businesses are facing unprecedented challenges – and it’s not ending anytime soon. By integrating enterprise content management and master data governance solutions, they can run an intelligent asset-management operation that’s ready to navigate every disruptive twist and turn.
Explore the calculated cost savings and business benefits of SAP Solution Extensions that support content management and data governance for capital-intensive projects and operations. Read the Forrester Consulting report “The Total Economic Impact of SAP Solution Extensions for Asset-Intensive Industries,” sponsored by SAP or listen to the recorded session with Forrester and SAP entitled “Economic impact of SAP Solutions for Asset Intensive Industries.”
Learn more about OpenText solutions for asset-intensive industries.