Summary
A multinational oil and gas company struggled with knowledge management and document organization. They had many users, an excess of information, and no single-storage location to host that information. Employees wanting supplier intelligence often went through an intermediary because only 50 people could access the intel. These bottlenecks led to difficulties creating effective higher-level strategies.
Over an ongoing three-year-long relationship with the client, our experts provided supplier and category intelligence and organized thousands of documents. When we released our Insightsfirst platform, the oil and gas company added market and category intelligence and a news flow to refine category intelligence.
The Challenge
The oil and gas company struggled with knowledge management and document organization. While the client had many users and significant amounts of information, they had no single-storage location to host that data. They experienced difficulty creating and implementing data-informed strategies and struggled to keep track of their supply-chain and financial data.
The oil and gas company brought Evalueserve onboard to solve these issues.
Our Solution
Evalueserve’s initial solution for the client:
- Organized thousands of documents using bifurcated pages.
- Introduced an easy-to-manage organization structure.
- Provided user access across the company.
Once we released our Insightsfirst platform, the client added market intelligence and a news flow for improved category intelligence.
Our experts provide quarterly reports on commodity pricing through a custom report feature in the Insightsfirst platform. The client’s users can submit a request form to reach out to our analysts with any special requests. A project counter allows both the client and Evalueserve’s team members to better track project status and delivery.
Business Impact
As a result, the oil and gas company gained a holistic view for analyzing suppliers and now sources new contracts with 30% lower risk. They receive timely updates on the financial positions of suppliers and associated risks, as well as regular updates on pricing. The client leveraged the data and intelligence on supplier pricing to make sure they were paying competitive rates across the market. This created approximately 50% in savings.
The client’s Insightsfirst platform has more than 3,000 users, a vast improvement over the 50 employees who had access to insights before. These users are provided with incredibly detailed data in customizable dashboards. They can customize and download reports and use the information to make data-informed strategic decisions. The platform integrates with Salesforce, making the insights much easier to access. Insightsfirst eliminated the need to go through an intermediary to receive category and procurement intelligence
