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In the energy industry, where any downtime directly impacts the bottom line, long-term management and maintenance of assets is critical. Any operator that performs service, upgrades or lifecycle extension on assets needs a business application that meets strict official requirements and demands.

IFS offers asset owners an industry solution for more effective processes and—ultimately–reduced downtime.

With IFS Cloud, it’s easy to manage your operation with integrating project management, material management/logistics, maintenance planning, work/service order management, resource allocation, finance, document management, business intelligence, as well as HSEQ.

• IFS Cloud will increase efficiency and reduce cost and secure asset uptime with powerful maintenance capabilities and built for purpose supply chain management.
• Increased collaboration with suppliers thanks to sub-contract management and web-based collaboration portals.

IFS Cloud features advanced finance management and also supports Joint Venture Accounting by capturing expenditures and other relevant transactions from finance, project, supply chain and asset management against the joint venture entity, including cash calls, allocation and billing to partners based on their equity share and potential changes in those equity share.

Energy companies that own and operate complex mobile assets require enterprise asset management (EAM) and enterprise resource planning (ERP) software designed specifically for the offshore environment. Floating production storage and offloading (FPSO) vessel owners, drilling contractors and other complex vessels owners with global fleet   can increase profitability, improve efficiency, reduce business risk by implementing software that unites their onshore and offshore operations and provides management with a single version of the truth.

IFS Cloud for Mobile Assets owners

• Provides support for global and multicompany set-up and finance management, where the location of assets in international waters impacts tax and regulatory schema
• Unite project and asset management onto a single platform to track the condition of the asset over a lifetime that includes multiple refits.
• Deal with complexities of an international supply chain where inventory is distributed, and some spares and repairs items are shared regionally by multiple vessels.
• Build an enterprise platform upon which innovation can add real value through technologies like the internet of things (IoT).
• Supports in-built replication

Project-based services companies that provides as services related to installation, modernization, periodic overhaul, moving, and decommissioning that are project-oriented and, in most cases, utilize both labor, materials and equipment. Examples include installing a turbine for an energy customer, installation, maintenance, and repairs of submarine communications cable or implementing a control system into a new asset. Tasks are interdependent and often require multiple skill sets (for example, mechanical skills to install the physical equipment and electrical skills to commission). A project is considered successful if the company delivers the project on time, on scope, and on budget.

IFS Cloud will help these companies to:

• Set the accurate scope and price
• Translate the scope into an executable solution
• Achieving the schedule despite complex interdependencies
• Getting the right people, with the right skills, at the right time 
• Ensuring the delivery team’s ability to monetize through execution