#Norway #IFS Cloud #Oslo #BW Offshore #Industrial AI

BW Offshore Chooses IFS Cloud for Operational Excellence

In a significant move to enhance its operational efficiencies, BW Offshore has announced its partnership with IFS, a leading provider of enterprise cloud solutions and Industrial AI software. This collaboration aims to streamline several business processes, particularly in project inventory valuation, cost control, and maintenance, allowing BW Offshore to navigate the complexities of the current energy market effectively.

A 15-Year Partnership

This initiative marks the latest chapter in a fruitful 15-year relationship between BW Offshore and IFS. The strategic upgrade is a vital step for BW Offshore as the company seeks to bolster its margins and mitigate operational risks amidst the ever-evolving dynamics of the global energy landscape. With the integration of IFS Cloud, BW Offshore is gearing up to leverage enhanced automation and Industrial AI capabilities across its operations.

Enhanced Data Quality and Reduced Errors

One of the primary goals of this upgrade is to improve data quality within the asset-intensive company, which has historically suffered from errors related to manual data management. By implementing AI-embedded processes, BW Offshore expects to reduce human error significantly, paving the way for more reliable decision-making and better financial oversight. This shift reinforces BW Offshore’s commitment to sustainable growth and operational excellence.

Streamlined Financial Processes

A highlight of the IFS Cloud implementation will be in finance operations, where BW Offshore will transition from manual to automated processing of supplier invoices. This change is projected to enhance efficiency in managing cash flow and consolidating financial reports, ensuring BW Offshore maintains agility even in turbulent economic times.

Optimizing Asset Performance

The enhancements afforded by the IFS Cloud also extend into asset performance. With advanced analytics at their disposal, employees will benefit from improved insights into operations, thus reducing the time required to report incidents. Furthermore, the user-friendly automation in maintenance processes will facilitate better time-reporting across multiple contractors, enabling them to update assets efficiently and initiate RFQ processes seamlessly.

Commitment to Digitalization

Fritz Ekløff, Head of IT at BW Offshore, remarked on the importance of digitalization in driving business value. He expressed confidence that the upgrade to IFS Cloud would deliver significant efficiency gains both onshore and offshore, reinforcing BW Offshore's commitment to maintaining competitiveness in a volatile energy market.

Customer Success Services

In addition to the technical upgrades, BW Offshore will also utilize IFS Customer Success services. This framework provides dedicated expert support throughout the implementation process, ensuring a smooth transition to the new system and ongoing assistance tailored to BW Offshore’s needs.

Future-Proofing with IFS Cloud

Ann-Kristin Sander, Managing Director of IFS Nordics, noted that BW Offshore’s adoption of IFS Cloud is a strategic move to secure growth and enhance efficiency across its operations. The capabilities unlocked through this upgrade are expected to transform BW Offshore’s operational landscape significantly, allowing for greater speed in accessing cutting-edge innovations that are integrated into IFS Cloud, ensuring the company remains at the forefront of its industry.

About BW Offshore

Founded on the principles of innovation and offshore engineering, BW Offshore specializes in floating production solutions. With a fleet of three FPSOs and aspirations for growth, BW Offshore harnesses decades of offshore operational expertise to deliver tailored energy solutions across global markets. The company employs approximately 1,200 individuals and is publicly traded on the Oslo Stock Exchange.

About IFS

IFS stands as a global leader in Industrial AI and enterprise software, catering to businesses that manufacture goods, maintain complex assets, and manage service-focused operations. With its revolutionary platform, IFS Cloud, the company enables clients to unlock transformative efficiencies, ensuring operational excellence tailored to their evolving needs. Established in 1983, IFS has grown into a trusted supplier with a dedicated focus on cultivating long-term partnerships driven by customer-centricity and innovation.

This partnership between BW Offshore and IFS Cloud exemplifies a strategic response to the challenges of the current energy market, showcasing a commitment to leveraging technology for enhanced operational excellence and sustainable growth.