The oil and gas industry are broken down into three segments being upstream, midstream, and downstream. Upstream businesses consist of companies involved in the exploration and production of oil and gas and are often referred to as E&P exploration and production companies.
Midstream businesses are those that are focused on transportation and are characterized by shipping, trucking, pipelines, and storing of raw materials. Downstream businesses are refineries responsible for converting the oil and gas to products such as gasoline, jet fuel, heating oil and more; as well as the businesses involved in product marketing and finished product distribution to the customer.
Robotic Process Automation can be deployed in each of the above segments and add great value. Organizations operating in each of the segments above are large scale businesses employing several thousands of employees leading to significant volumes of tasks to be processed, be it in finance and accounting, human resources, or IT. Due to the nature of these businesses, they also engage with several vendors and therefore have huge procurement teams in place to ensure vendor registration and documentation takes place in a compliant manner.
RPA can not only streamline several processes within this sector but also save massive operating costs and increase efficiencies across the organization.
