The field service industry is undergoing unprecedented structural transformation. Old trends (such as manual data entry and paper tickets) are no longer sufficient to meet customer demands and the industry's new standard of efficiency. Failure to adapt may result in a...
“Going digital” is a phrase that we hear more and more in our ever-changing world. The classic vehicle dashboard with dials and gauges is being replaced with touch screens just as the mechanical dials that used to be on your oven or washing machine have been replaced...
U.S. Government Signs $1 Trillion Infrastructure Bill At the end of 2021, the American government signed a $1 trillion infrastructure bill into law. The Infrastructure Law outlines a plan to: Build better roads and bridges: 173,000 miles of highways and roads in the...
Sunk costs. Like the Titanic, except without any loot. Costs that have either already been incurred or cannot be changed are sunk costs. Rent, fuel, gym memberships - the money spent on these expenses can’t be recouped, no matter how you proceed. If a project or...
Cash. The most basic success metric for any kind of business. Stakeholders often focus on profits to measure success, but for recession-tempered oil and gas service companies, cash flow is king. In volatile commodity markets, effective survival strategies are built...
After two consecutive years of significant decline (34 percent in 2015; 39 percent in 2016), the global directional drilling services market increased in value to $9.6 billion in 2017. While a resurgence in general upstream activity can be attributed to the overall...
For pipeline construction contractors, the demands of keeping up with the multiple prequalification and invoicing requirements mandated by each client is costly and labour-intensive. But, to be eligible to work on lucrative projects, companies must be willing to jump...
Revenue leakage. Now that sounds scary! When running your own business, it’s critical to closely monitor every aspect of your operations to truly understand your costs. Although revenue leakage happens in all types of business, it's especially damaging to those who do...
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