Executive viewpoint ///

The recent drop in oil and gas prices over the past year has, in many instances, taken the industry by surprise, leaving oil and gas companies—large and small—looking to streamline their businesses and cut down on expenditures. Most recently a study by Calgary-based Enform, a safety performance specialty firm, found that as many as 185,000 jobs in Canada related to the oil and gas industry could be lost this year. With no clear end in sight for oil price recovery, companies must adopt sustainable strategies for cost reductions, and the deep short-term cuts that have begun to occur will put a heavy strain on operations. As a result, IT budgets are being stretched to a breaking point, and incremental efficiencies are yielding a poor return.

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