Automation Banking Consulting

Energy companies looking to bots for help

Robotic process automation (RPA) continues to gain traction in many industries as a way to perform multiple digital tasks in an automated, less costly way. Oil and gas companies are among those embracing the technology.

With RPA, a software ” ” replicates actions such as entering data into an enterprise software platform. Once the software has been trained to grasp certain processes, it can automatically manipulate data, communicate with other systems, and process transactions as needed. RPA “has the potential to make a significant impact in the oil and gas industry,” said Tony Mataya, director of the Energy Practice at technology consulting firm Information Services Group (ISG).

 From simple to more complex tasks

Many organizations in the industry are implementing RPA, from small, proof-of-concept projects to large-scale initiatives, Mataya said. “RPA automates repetitive tasks and manual integration of disparate data sets, improving efficiency, reducing or virtually eliminating error, and reducing cycle times,” he said. computing takes over from RPA when the processes are not as repetitive and there is intuition and thinking required, and a large amount of sometimes seemingly unrelated factors are considered.

“For example, when using systems in making decisions on drilling, engineers are able to identify patterns, read drilling data and sensor information, compare that data to previous experience with similar formations, and make significantly better decisions concerning a larger number of wells–with significantly fewer people,” Mataya said.

Very seldom are all of the factors the same in such decisions, “so RPA would not address all the potential combinations that need to be considered,” Mataya said.In a recent post , Peggy Krendl, global finance management consulting lead for Accenture’s Resources operating group, noted five points companies need to consider before automating oil and gas processes. One is to determine if there is a compelling business case for deploying RPA. For example, Krendl noted, a company might want to reduce an accountant’s tedious workload with a botA bot is a piece of code, which does a predefined set of actions on behalf of someone. Bots are used to manage Twitter Followers, they answer email requests or order more supplies as soon a certain item runs low., but it needs to think about the total costs of the technology, including software licensing fees and updates that will need to be programmed in as system changes occur, as well as organizational issues that need resolution. […]

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