Implementation Of IT For Oman Oil Company Essay.

Usage of data and information required to conduct business in Oman oil marketing company

Discuss about the Implementation of IT for Oman Oil Company.

The report depicts the requirements of data and information that are needed to conduct a business in the competitive marketplace for the selected organization namely as Oman oil marketing Company. The report will illustrate the valuable constraints required for the development of the business.

The organization is started in the year of 2003 and it is the single 100% Omani owned fuels marketing companies in Oman. The company is headquartered in Muscat, Oman. The company itself is owned and is operated by the Omanis (Oman-oil.com 2016). The commercial business suppliers involve in the marketing and fuel and lubricants products are operated in different sectors. In order to improve the business structure certain specific strategies are needed to be involved. Considering the economic sector of the organization certain emerging technologies from the business context should be added to the traditional business model of Oman oil marketing organization.

From the current analysis it has been come to the spotlight that in order to achieve rapid business growth in terms of fuel marketing plans Oman Oil Company is going live with Oracle Hyperion system. In order to achieve combination of flexible financial and management data throughout the company has adopted the financial management portfolio of Oracle (Al Hatmi and Tan 2013). The data analysis capabilities will increase at a large rate after involving consolidation and reporting tools to it (Refer to Appendix 1). The current market revenue of the company can be determined from the business analysis of the company. The mission, vision and goal of the organization basically set the business future of the business.

Mission	Vision	Strategy
The mission of the company is to make continuous engagement of the consumers to enhance the stakeholder’s value (Looney 2013). The value is needed to be increased with static growth in the business strategies and convenient innovation in the products of the company to attract superior consumers from throughout the world.	The vision of the company is to make preferable choices which would be able to deliver best quality products with a friendly service.	In order to enhance the business benefit the organization is involving many technologies that might help it to obtain greater brand value from the competitive business market (Al-Shubiri 2015).

The concept of big data has transformed the traditional functionalities of the oil company. Apart from this, the social marketing sights also enhance the customer relationship management by incorporating big data analytical tools (Rajasekar 2013). Therefore, it can be said that, Business information systems act as a boundary spanning study relevant to ICT that helps to improve the commercial backbone of Oman oil marketing company.

Figure 1: Market revenue of Oman oil marketing company

(Source: Salim and Saci 2014, pp-91)

In order to achieve success in the oils marketing industry Oman Oil Company is firmly concentrating on the customer focused electronic business where the consumers can get attracted to their products through the help of the electronic medium (Salim and Saci 2014). Two major phases are involved to the electronic business of Oman oil marketing company. According to the business need the marketing phases are formed. These are as followed:

Oil electronic Customer Chain (OECC): This is the first phase of electronic business of Oman Oil Marketing Company where, a model is developed by the developing team of the company (Al-Quwaitai and Krishnan 2016). The company is developing the models in order to achieve a best suited IT based Electronic structure for the company. Over 36 IT based solutions processes can be achieved from the OECC model. The electronic business solutions are needed to be adopted as theses are required to accelerate the adopted IT methodologies.

Business information system

Pattern Analysis: This is the second phase of the E-business policies adopted by Oman oil marketing company. Around 20 best of the oil producing companies all over the world, are adopting the OEEC model in order to achieve the IT solutions during the electronic marketing of the company (Minnee et al. 2013). Pattern analysis is nothing but the categorization of three phases which are again divided into 36 IT solutions. Which pattern of the model should be feasible to the company is measured by pattern analysis.

An investigation rather a worldwide oil industry based survey, resultant that the future of Oman Oil Company in E-marketing is very feasible due to the adaptation of ERP (Enterprise Resource Planning) system (Oman-oil.com 2016). ERP allows Oman Oil Company to accommodate some of the best business practices. ERP provides several opportunities that help the company to run the business smoothly. According to Looney (2013), due to daily basis dynamic changes in the business ERP adaptation is very helpful to Oman Oil Company. In order to increase the operational efficiency Oman Oil Company is adopting Big Corporate Houses and Business Intelligence Solutions. The factors such as - Marketing and sales, HR management team, Inventory management system, shipping and manufacturing measurement come under consideration while implementing ERP (Refer to Appendix 2).

Rajasekar (2013) stated that, Oman Oil Marketing Company is adopting the latest Oracle enterprise resource planning system to improve the business efficiency and to spread awareness among the users of the company. SAP is also incorporating in Oman Oil Company.

Figure 2: ERP system of Oman Oil Company

(Source: Palanissamy 2014, pp-110)

Currently most of the companies are adopting CRM software system to establish potential relationship between the consumers and service providers (Palanissamy 2014). The CRM software system is offered by Ledgeview Partners to Oman Oil Company. The Oil industry is facing dynamic changes and pattern analysis gives opportunities to the company to choose the best suited CRM for them (Refer to Appendix 3). The company focuses on user friendly services so that they could engage more number of consumers and can hold the existing consumers. In traditional system the clients had to make face to face communication and the transaction process was also very long. In CRM there is an option of online transactions which is quite quick and secures (Rahimzadeh et al. 2015). The Company has adopted Microsoft CRM system to maintain the specified features:

1. Back office Accounting

2. Dashboard reporting

3. Cross sell

4. Notification on the price of the fuel

5. Opportunities in business processes

6. Digital access

7. Wallet management

8. Setting objectives

9. Stationary management

Figure 3: CRM system of Oman Oil Company

(Source: Rajasekar 2013, pp-140)

Dashboard management system is utilized by Oman Oil Marketing Company. In this system the managerial team can search for all the requirements at a glance (Al-Shubiri 2015). The sales, marketing, Human Resource management system and the production of the company managed by a database system and the managerial team monitor all these sectors. Oman Oil marketing Company is adopting dashboard management system which is mainly a geographical interface that shows the overall marketing strategy of the company (Varghese et al. 2016). The dashboard management system of the company is also referred to as the key performance indicator which enables the manager of the company to monitor and compare the key performance. The dashboard also helps the company to find out more target marketing (Refer to Appendix 6).

Electronic business

Oman Oil Company is adopting different software to ensure the security in terms of application of ICT management system within the organization. Cyber attack is increasing in a rapid rate in the oil industry of Oman. The factors that come under consideration during the analysis processes are as followed:

Security: From a current survey it has been found that, Omani oil industry is affected by different viral attacks. Thus, the company is adopting ERP management system to reduce the number of cyber attacks throughout the world.

Accuracy: CRM and ERP management systems are adopting by the company to make the consumer service more loyal and flexible.

Liability: As the back office functions will be automated, management can concentrate on increasing the safety of the workers (Refer to Appendix 5).

Conclusion

From the overall discussion it can be concluded that the Oman Oil company has turned into emerging Information and Communication Technologies in order to face tough challenges in the oils and gas industry of Oman and throughout the world. In the context of upstream and downstream, fragmentation are generated during the operations of oil industries.

(TOTAL WORD COUNT-1575 [Including Executive Summary])

References

Al Hatmi, Y. and Tan, C.S., 2013. Issues and Challenges With Renewable Energy in Oman. Gas (BCM), 4(9), pp.212-218.

Al-Quwaitai, A. and Krishnan, P.K., 2016. Study and Design of Flare Reduction Initiative in the Region: A Case Study of Gas Flaring Reduction at Oman Liquefied Natural Gas Company. British Journal of Applied Science & Technology, 14(5), p.1.

Al-Shubiri, F.N., 2015. The Impact of Economic and Financial Variables on Cash Conversion Cycle of Energy, Oil and Gas Sectors Listed in Muscat Security Market. International Journal of Energy Economics and Policy,5(1), p.174.

Looney, R.E., 2013. The Omani and the Bahraini paths to development: rare and contrasting oil-based economic success stories. Achieving Development Success: Strategies and Lessons from the Developing World, pp.419-456.

Minnee, F., Shanka, T., Taylor, R. and Handley, B., 2013. Exploring corporate responsibility in Oman-social expectations and practice. Social Responsibility Journal, 9(2), pp.326-339.

Palanissamy, A., 2014. Investor-relations-integrating social media into board–Oman perspective. European Journal of Business and Management, 6(24), pp.108-113.

Rahimzadeh, A., Einanlo, Z.T., Farajzadeh, A.A. and Reza, A., 2015. Review of Influence Market Return, Oil Price, Exchange Rate and Interest Rate of Stock Return Listed Firms Tehran Stock Exchange.

Rajasekar, J., 2013. A comparative analysis of mission statement content and readability. Journal of Management Policy and Practice, 14(6), pp.131-147.

Rithuan, S.H.M., Abdullah, A.M. and Masih, A.M.M., 2014. The Impact of Crude Oil Price on Islamic Stock Indices of Gulf Cooperation Council (GCC) Countries: A Comparative Analysis.

Salim, A.Y. and Saci, K., 2014. Co Integration of Stock Markets of the GCC Nations in the Wake of the Arab Spring of 2010: Analysis of the Relationship between Oil and Stock Market Prices. The International Journal of Business & Management, 2(6), p.91.

Varghese, t., john, s.s. and qatroopi, k.a., 2016. is oman and india having sufficient bilateral trade?. australian journal of business and economic studies, 2(1).

Zhong, M. and Pan, B., 2014. The Internationalization Evolution and Development of China National Petroleum. International Journal of Business and Social Science, 5(10).

Oman-oil.com. (2016). Welcome to Oman Oil Company S.A.O.C. [online] Available at: https://www.oman-oil.com/index.php [Accessed 9 Aug. 2016].