Digital transformation for subsea SMEs: Common hurdles and how to overcome them
Digital transformation for subsea SMEs: Common hurdles and how to overcome them
Authored by
Darrell Knight
Executive Vice-President Market and Partner Development
Start up and scale up subsea operators often avoid the much of the legacy burden and baggage associated with larger players that are seeking to digitize. Fewer internal systems, ‘newer’, perhaps more digitally-native workflows, less overwhelming amounts of scattered or dirty data.
But it’s not all plain sailing.
The challenges native to a smaller or mid-sized player require a different approach to digital solutions. In this blog, I’ll take a look at what we’re seeing in the market, how brownfield and greenfield operators’ challenges differ, and discuss how highly configurable tools provide a solid foundation for scale, without trapping growing companies in the rigidity of off-the-shelf.
The issue with inherited assets
When smaller operators inherit mid-life assets divested by larger companies, they also inherit the age-old challenges of inconsistent data quality and entrenched legacy practices. This is part of the reason why we’ve evolved FieldTwin to support the entire project lifecycle, and precisely where a full-lifecycle approach becomes critical.
At a time when larger players are divesting assets to reduce costs and refocus on other priorities, smaller operators also have an opportunity to influence the industry’s expectations around digital discipline. By pushing for more stringent digital controls on projects - ensuring information is standardized, streamlined and preserved - we can prevent the data gaps and knowledge loss often caused by retiring corporate memory. Ultimately, this strengthens the value of inherited assets and sets new owners up for long-term success.
Getting it right in greenfield
There’s also a growing trend of smaller operators moving into greenfield projects, which we’re seeing in regions like Brazil and Africa especially. While this move towards greenfield can stretch resources, it does also open up opportunities to ‘get digital right’ from day one.
And as smaller operators move into greenfield, digital strategy becomes central to the ability to compete and operate safely. Instead of scale, success will come from using digital tools as a force multiplier; giving smaller teams the ability to manage complex projects without rapidly growing headcount.
As smaller and mid-sized operators enter more complex projects and expand their portfolios, a smarter, more adaptable digital foundation is critical. And pragmatism is especially important; finding tools that scale with operations, without the heavy commercial burden or rigidity of traditional enterprise platforms.
Considering commercials
Digitalization can be a force multiplier for smaller operators, enabling them to compete effectively from the outset. But, to gain the benefits, and ensure the platform will be ready to grow, an integrated, configurable environment is essential. One that delivers capability at a lower cost, removing the overhead of proprietary tools. A platform that adapts as the business evolves to ensure you're building efficiency, not technical debt.
Flexibility and interoperability are equally vital from a commercial perspective. Modular, cloud-native solutions allow smaller players to scale as new assets, workflows or stakeholders come online. Integration with partners and service providers strengthens information flow and accelerates decision-making, but it can also improve position in licensing rounds and joint ventures.
In short, the right digital foundation helps smaller companies do more with less, and remain commercially competitive.
Finding flexibility
As small and mid-sized operators look to scale, a flexible digital foundation becomes essential. When a platform is too rigid, the business ends up conforming to its guardrails and parameters; something that may work initially but quickly becomes a problem as new stakeholders, data sources or workflows emerge. A platform like FieldTwin can absorb this evolving ecosystem at a fraction of the cost and resource it takes to build and maintain a solution in-house.
Building a foundation
Our goal with FieldTwin, and how we've seen it best put to use with smaller operators, is to create a foundation that becomes the backbone of the entire digital ecosystem. Keeping systems connected while remaining fully configurable. This allows the platform to grow and adapt alongside the organization, rather than forcing the organization to adapt to the platform.
Final Thoughts
Ultimately, success isn’t about size. It’s about willingness to be open-minded and adapt digital solutions to fit unique contexts. The technology should never lead the transformation.
So, when starting a request for tender (RFT) to digital providers, it’s critical to look for partners that tailor their approach to each situation. Digitalization and automation holds huge opportunities to improve operations at scale, but to begin with, the more granular and specific the approach, the better.
If you’d like to discuss how FieldTwin could support your organization's digital journey, please get in touch.
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