Using technology to help energy service companies manage growth

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1 Using technology to help energy service companies manage growth SPECIAL REPORT

2 GROWING OR STREAMLINING YOUR BUSINESS? such as duplicate entries, which can turn into unexpected errors, and resulting delays. Further, when information critical to your service business such as field tickets, billing or inventory tracking resides in different systems (or even locations), response times can lag making you less agile and able to respond quickly when business opportunities arise. When you're running an oilfield construction business in the energy services sector that's experiencing healthy growth, things are good. New job contracts are constantly coming in, your equipment is out in the field, and your workers are busy out at a number of different job sites. These are good signs. However, one challenge associated with periods of high growth in this industry is that as a business owner everything seems to be top of mind - from managing job contracts, billing and payroll to preventative maintenance. When you're trying to keep up with a rapidly growing business the right business software can make all the difference. YOUR CHANGING NEEDS When most companies are in the start-up phase they begin using simple applications for managing different aspects of their business - such as a basic accounting application for managing financials, which works great to manage their data for a few years. However, as your business grows you may find that accounting application a bit too limiting. In stages of high growth, having your sales, accounting, and operational systems and processes disconnected can create bottlenecks and cause productivity to suffer. Using multiple disparate systems creates additional work, There's a better way to manage your business' critical information that allows you to spend more time focusing on growing your business and less time managing your software applications - dealing with everyday operational details and ad hoc requests for information. With a single system that manages your entire business - from general ledger to budgeting, sales, CRM, reporting, field tickets, job costing, rentals, preventative maintenance and more - running your business gets a little less complicated. INSTANT AND COMPLETE INFORMATION With a system that captures critical business data across sales, customers, operations and financials in a single application for instant access and use across your organization, you and your management team can quickly and easily track revenues, costs, and profit margins and assess how your business is performing - and what business decisions can help accelerate it. Having all of your business financial information consolidated is crucial to getting visibility into how cash is flowing into your business and out of it, and being able to track how and where your business is growing. Integrated business management software can give you the insight you need to see the data that matters when it comes down to making key business decisions, such as balance sheets and cash flow analyses, so you can see

3 where your finances are in real time. BUILT FOR YOUR INDUSTRY Consider how much easier managing your business could be with a solution developed specifically for companies just like yours in the energy services industry. A solution that allows you to see everything that matters to your business - from field tickets, costing, billing to safety and production - fully integrated with you invoicing, inventory management and payroll functions. A solution that enables you to: View detailed project cost analyses See all pertinent details on any job - on the fly. Track and review the cost status of a job or project at any time to see whether you're making or losing money. Input time and materials with the correct data - and post to payroll and billing instantly with a single entry. See the time and materials associated with each project on the fly, and invoice for the correct amount every time. Understand your labor costs like never before. Easily track every hour for every employee without even having to think about it. Manage your equipment easily. See projected versus actual for budgets, allowing you to see what s profitable and what isn t at any given time. See where your equipment is in real time and track associated costs on any job. Even reduce down time and increase utilization by scheduling maintenance on your assets. Plus, with a seamless link to your invoicing, you'll never be out of pocket for unbilled hard costs again. Keep third-party billing in check Gone are the days of getting stuck paying third-party costs after a project closes. With integrated billing, you can easily make sure that items you bought or services you procured from a third-party for a job gets properly billed back to your customer. Minimize Days Sales Outstanding (DSO) We know that keeping your DSOs to a minimum is a key performance indicator many energy service vendors are using today - so we understand that the traditional billing process can hinder this KPI. By using electronic billing you can send your bills automatically, which can dramatically reduce collection time and help improve cash flow. See your entire business from a single application. SAP Business One integrated with FieldVu our field services application can help you manage your business growth, and is built with the industry-specific features you need to effectively manage the services side of your business. SAP Business One Completely integrated management functions SAP Business One is a single, comprehensive business management software solution that offers support to manage core business functions across sales, financials,

4 customers, inventory, and operations. SAP Business One is designed specifically for small businesses, which means it s quick to install, simple to maintain, truly affordable, and most important easy to use. By integrating core business functions, SAP Business One captures all critical business data in a single system that is instantly accessible across the organization. By using one system, you don t have to struggle with the challenges that result from having your business data spread across multiple systems - and can eliminate duplicate data entry, associated errors, and subsequent costs. FieldVu: Energy Services Application 360-degree visibility FieldVu is an all-in-one solution for start-to-finish project management that allows you to see everything that matters to your energy service business from initial job/contract set-up, job/unit costing, dispatch, field ticketing, labor, equipment rental, maintenance to billing and payroll. About VistaVu Solutions VistaVu Solutions is a leading business management software provider that has the industry experience, tools and tailored software solutions to help oilfield construction, pipeline construction, oilfield product manufacturing, well servicing, distribution and rental companies fully integrate their business operations and accelerate their profitability. VistaVu is also one of SAP s top North American channel partners not because we re good at selling, because we re good at helping small to mid-sized energy service companies reach their goals. Our team is dedicated to helping our customers become more efficient so they can maintain control of their business, better manage their operational processes and drive their growth. Contact Us VistaVu Solutions Toll free Built right into SAP Business One, FieldVu extends the capabilities of this world-class software application and adds functionality specific to the energy services industry. Beyond having your operations, sales, HR, purchasing and financial data centralized in a single system we ve made it possible to have additional industry-specific data captured in that same system. With a complete 360-degree view of your business you ll be ready to improve productivity, reduce costs, seize new opportunities, and anticipate new challenges like never before.

5 See the whole picture. See the whole picture.

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