Competition is fierce in the midstream sector of the energy industry. The companies leading the way are continually looking for increased efficiencies and tools to better serve their customers. SemGroup, which transports and stores oil, natural gas and other energy products in North America, is capturing an opportunity to enhance the systems that support its businesses.
Many companies rely heavily on spreadsheets to manage their day-to-day business, making real-time reporting not possible. Midstream companies have to reconcile large, complex spreadsheets to gain visibility into their business and determine their ability to accept nominations. Furthermore, reports are often not intuitive and require training to analyze and understand.
SemGroup adopted the Openlink Asset Transaction Management (ATM) solution to manage their physical asset business. ATM enhanced the ability to capture nominations, actualize tickets/movements, maintain consistent data, and produce needed reports and shipper statements. It also provided the ability to view a customer’s inputs and outputs by asset in a consistent manner – without relying on spreadsheets – in real time.
Built specifically to handle activities like pipeline shipping and nomination management, ATM gives midstream companies a single view of their operations. SemGroup now spends less time reconciling spreadsheets between multiple systems and more time focusing on strategy and building other areas of the business.
For the operations team, time and money previously spent on support decreased. ATM also produces reports that are more accessible across the business and to shippers. Key departments, including operations, accounting and scheduling, can now see intuitive data and follow shipper’s physical movements through assets in real-time. Teams now have improved forecasting: they can now see volumes committed and plan accordingly, even as the business becomes more complex.
To learn more about how Openlink Solutions can work to improve ROI and streamline operations in your business, contact us for a free consultation or no obligation demo.