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Technology drives productivity in all aspects of the natural resource industry, from exploration to extraction and up to transport and sales. If a corporation truly wishes to increase its productivity gains, these processes must be linked and managed effectively. When you factor in the heightened risks, human resources challenges and communications needs of natural resource companies, management of the entire value chain becomes even more important. Despite the challenges facing the natural resource industry, new technologies in customer relationship management (CRM) are creating new opportunities for companies looking to stay competitive.
Natural Resource Industry CRM provides solutions to all these challenges and more, ensuring that corporations operating in the industry can respond to, and prepare for, the needs of a fluctuating marketplace. Natural Resource Industry CRM allows mining and energy companies to improve their operational performance, all while controlling costs. With fluctuating demand and unstable pricing, CRM can ensure that natural resource companies are operating efficiently, getting the most out of their business relations and lowering costs both on-site and across regional operations.
Because so many natural resource companies operate in remote locations and other harsh physical environments, operational risks, human resource liabilities and equipment malfunction are disproportionately high when compared to other sectors. Let’s face it: natural resource exploration and extraction is a tough business. Despite the recent mining boom, growth has been limited by global recession and prices have not exactly been favourable to producers. Thus, the impetus is on corporations themselves to carve out an efficient business strategy that responds to these challenges.
Natural Resource Industry CRM manages operational risks from the most basic to the most complex. With CRM in place, companies can monitor and thus manage operational risks, including worker injuries, equipment malfunction and delays in production. Exploration CRM in the mining industry can ensure that a mining operation adheres to SECA standards; Discovery CRM for upstream oil and gas producers can be specifically engineered to provide detailed information on wells, rigs and leasing requirements.
The key attribute of Natural Resource CRM is its ability to automate the entire management process of an operation. CRM in the energy sector integrates with leading well and production data sources that can be quickly leveraged and used to support the business side, leading to stronger marketing, services and sales. Best of all, CRM allows companies in the natural resource industry to integrate their operational systems with the rest of the organization, resulting in a truly complete information management system that can provide business analytics and improve profitability.
Natural Resource CRM is the best response to global uncertainty. By aligning their information management system with on-site operations and strengthening their business intelligence, companies can implement a more effective business strategy, thus preparing them for whatever the market has in store.