Rationalization in Energy Industry Increases Demand for Smarter Data Management Tools
With oil prices at six-year lows, energy producers are expected to cut spending in the United States by as much as 35%, according to Cowen and Co. Many organizations will be restructuring and resizing, with a focus on making the remaining resources more effective. Companies that act resolutely in light of these market realities, rather than merely doing “less of the same,” will be rewarded in the near term. Weathering the current down cycle and better positioning themselves over the long haul will require organizations to invest in modernizing their data management systems.
Most organizations are poised to benefit from data management improvements, as many have invested heavily in their trade, risk, and back-office systems over the past decade, all of which require a reliable and automated feed of continuously validated data. ZEMA meets this need perfectly. With a proven track record of seamless integration with common downstream systems, ZEMA ensures that its benefits will quickly be felt across all systems.
Process automation is widely recognized as a means of improving performance while reducing costs. But it is often hindered by an organization’s a lack of internal IT resources, considering the skill required to build and manage such a system. The cost of managing data feeds internally is expensive as developers generally do not have a strong understanding of the market. Other factors that commonly inhibit the adoption of better data management processes include:
- Feeds often break, requiring full-time resources to manage.
- Company priorities change over time, shifting developers’ focus away from data management processes.
- There is an opportunity cost associated with building business applications and spending resources on data management.
- Repairs can be difficult and timely.
- Organizations typically cannot take advantage of economies of scale.
- Preparing for market restructuring is expensive.
ZEMA is a highly configurable off-the-shelf solution that alleviates pressure on expensive internal resources and quickly delivers the benefits of business process automation, which include improvements in:
- IP protection
During times of downsizing and rationalization, organizations have the opportunity to better position themselves to take advantage of the recovery. ZEMA helps put organizations in this position by enhancing their data asset and making all of the systems it is connected to more effective. To learn more, visit ze.com/the-zema-solutions.https://blog.ze.com/the-zema-solution/rationalization-in-energy-industry-increases-demand-for-smarter-data-management-tools/https://blog.ze.com/wp-content/uploads/2015/02/550x300blogimageA.jpghttps://blog.ze.com/wp-content/uploads/2015/02/550x300blogimageA-300x300.jpgThe ZEMA Solutionautomation,Back Office,business process automation,integration,oil,risk management,tradingWith oil prices at six-year lows, energy producers are expected to cut spending in the United States by as much as 35%, according to Cowen and Co. Many organizations will be restructuring and resizing, with a focus on making the remaining resources more effective. Companies that act resolutely in...Bruce ColquhounBruce Colquhounbruce.email@example.comContributorBlogs by data management Experts & Analysts | ZE