Dubai, United Arab Emirates: Jedox, an award-winning provider of Enterprise Performance Management (EPM) solutions for Financial Planning and Analysis (FP&A), today announced that Shelf Drilling, an offshore drilling company providing shallow water services to the oil and gas industry, has reduced the time spent on the transfer and consolidation of operational data by 98% following its implementation of the Jedox EPM solution. Consequently, this has enabled the company to enhance efficiencies across key functions including rig maintenance and fuel tracking.
Headquartered in Dubai, Shelf Drilling operates 30 rigs across eight countries and has 12 onshore locations, with approximately 3,100 employees and contractors. As it sought to modernise and digitalise its operations, the company was looking to implement an integrated planning system. Because of the low bandwidth of the satellite links that connect Shelf Drilling’s rigs to its headquarters, the company needed a solution that could replicate data offline and in the background.
The company’s evaluation found Jedox’s offering not only met these requirements, but also offered the ability for its decision makers to effortlessly visualise planning and operational data through intuitive dashboards and reports. By integrating Jedox’s solution with its existing enterprise resource planning (ERP) and business intelligence (BI) tools, Shelf Drilling can now maintain a consistent, always up-to-date, single source of financial and operational data. This near real-time data is being used for different purposes and among different departments, namely for the maintenance forecasts, project authorisations and emissions tracking.
“With Jedox, everyone in our organisation – from our headquarters to our offshore rigs – gets a close to real-time view. Business users can simply assemble the data in the system and the required operational data is immediately available for use in models and reports,” said Bryan Teo, ERP director at Shelf Drilling. Offering an example of how this data enables the company to enhance its operations, he said, “With the very accurate transfer of almost real-time data on fuel consumption from the rigs, we can optimise our engine hours, save fuel, and be more sustainable.”
Shelf Drilling has also built another solution on the Jedox platform utilising the in-built approval workflow engine, to manage project authorisations. This solution helps eliminate paper approvals that previously had to be scanned and emailed to the next approver before being uploaded to the ERP system as evidence of project authorisation.
“With Jedox, we were able to streamline and simplify our data management process. Information collected is automatically synchronised in the cloud and seamlessly consolidated, providing a single source of the truth. Further, the online approval functionality within Jedox has enabled us to digitalise project authorisations company-wide, increasing compliance while eliminating paperwork,” said Ian Clark, Executive Vice President at Shelf Drilling.
“We are proud to have been selected by Shelf Drilling for this landmark digital transformation project which enables them to enhance collaboration, planning, operations and forecasting across their entire enterprise. We are especially excited to see how they are continuously maximising their utilisation of our platform by introducing new, innovative use cases, as they roll it out to additional departments such as marketing,” said Andreas Simon, Regional Director MEA at Jedox.
Jedox is an Enterprise Performance Management software solution for planning, analysis, reporting and optimization of value creation processes. Whether finance, sales, human resources, marketing or procurement – all business units get a shared view on all relevant financial and operational data. On this basis, they can collaboratively create strategic and operational plans and continuously measure, monitor and improve their realization.