Archive Monthly Archives: January 2016

4 Ways To Cut Costs During the Oil & Gas Downturn

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These are hard times in the Oil & Gas Industry. With the price of oil below $40, all of us in the industry need to cut costs. Here are 4 quick ways to cut costs during the downturn.

  1. Look at your credit card and bank statements to look for recurring charges that can be eliminated. You’ll be surprised by how many services or subscriptions you might have signed up for and forgotten. It might not seem like much but these charges add up quickly. Cancel all subscriptions and services you aren’t using or can do without.
  2. Cut back on company paid lunches and other special perks. You really don’t need to go out for lunch everday but you can if you want. Just don’t make the company pick up the tab. These meals can add up quickly to hundreds of dollars a month.
  3. Hold off on hiring new people until you find ways to justify and pay for them. Too often we hire because we think we see a need but don’t take into account what those wages will do to the bottom line. Will hiring increase efficiences and add to the bottom line? If so, go for it. Otherwise be hesitant to add overhead.
  4. Look at other high cost items you’re using that might have made economic sense during high prices, but now are a drain on cash. One of these could be your monthly software costs. If you’re using an Oil & Gas Accounting system that made sense during $80 oil but now isn’t giving you enough in return for it’s on-going maintenance costs, it might make sense to switch to a lower cost alternative that has the same functionality.

We’ve helped many companies switch away from their high cost oil & gas accounting software to SherWare. The benefits include lower yearly costs for maintenance and increased productivty for your current staff. This is a win/win because you can cut costs and avoid adding more wages!

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Source: SherWare Blog

4 Ways To Cut Costs During the Oil & Gas Downturn

cost-cutting.jpg

These are hard times in the Oil & Gas Industry. With the price of oil below $40, all of us in the industry need to cut costs. Here are 4 quick ways to cut costs during the downturn.

  1. Look at your credit card and bank statements to look for recurring charges that can be eliminated. You’ll be surprised by how many services or subscriptions you might have signed up for and forgotten. It might not seem like much but these charges add up quickly. Cancel all subscriptions and services you aren’t using or can do without.
  2. Cut back on company paid lunches and other special perks. You really don’t need to go out for lunch everday but you can if you want. Just don’t make the company pick up the tab. These meals can add up quickly to hundreds of dollars a month.
  3. Hold off on hiring new people until you find ways to justify and pay for them. Too often we hire because we think we see a need but don’t take into account what those wages will do to the bottom line. Will hiring increase efficiences and add to the bottom line? If so, go for it. Otherwise be hesitant to add overhead.
  4. Look at other high cost items you’re using that might have made economic sense during high prices, but now are a drain on cash. One of these could be your monthly software costs. If you’re using an Oil & Gas Accounting system that made sense during $80 oil but now isn’t giving you enough in return for it’s on-going maintenance costs, it might make sense to switch to a lower cost alternative that has the same functionality.

We’ve helped many companies switch away from their high cost oil & gas accounting software to SherWare. The benefits include lower yearly costs for maintenance and increased productivty for your current staff. This is a win/win because you can cut costs and avoid adding more wages!

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5 Ways Using SherWare Helps During The Oil Slump

If you’re reading this, you’ve been affected by the oil & gas industry slump. There’s a glut of oil & gas in the world markets and the prices have plummeted. This affects everyone.

Especially so if you’re a small oil & gas producer or work for one.

We understand.

We’ve been in business for over 20 years and have catered exclusively to small oil & gas oilguys.jpgproducers. Hundreds of them depend on us for their oil & gas accounting software needs. We talk to them daily and understand their struggles during this downturn. 

When looking for oil & gas accounting software, you have a few choices. Here’s the top five reasons that SherWare is the best choice, especially now.

  1. We solve your accounting problems in the most cost effective way.

    In your search for software, you’re not looking for features, you’re looking for the solutions to the needs your company has. Using SherWare can solve those problems you face. We’ll be glad to tout our features, but we’d rather listen to you to learn what problems you need to solve and then help you solve them.

    If you compare the cost of software to solve your problems, you will definitely spend less using SherWare.

  2. There are less training costs associated with using SherWare.

    Starting with SherWare is very cost effective because we include in your software investment, the training you need to not only get set up, but also to start using the software to run your accounting.

  3. We have lower on-going costs.

    The costs of maintaining your SherWare software are lower than any other oil & gas accounting software out there. We offer a yearly support subscription that includes all updates and upgrades. We even offer an online chat support option to help you get instant answers.

  4. We give you options for handling your accounting.

    If you’re looking for a fully integrated oil & gas accounting system that includes everything you need, we have it. If you’re using QuickBooks™ and don’t want to replace it, we can help you there too. We have an application that handles your revenue distributions and joint interest billing that integrates with QuickBooks in real time. You only have to enter your data once.

  5. You don’t have to hire an accountant to run the software.

    Don’t get me wrong. We love accountants. But extra hiring in this industry climate is extra overhead you don’t need. Our software is the easiest to understand and use that you’ll find on the market. We take pride in how fast we can get you up and running and feeling confident.

We understand your predicament.

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Source: SherWare Blog