Visit Us On : www.wrenchsp.com A holistic approach to business transformation by transforming people, process and technology. Takeaways: • Build a lower cost, more flexible platform for growth, both to begin recapturing lost revenues and grow business. • Rethink the use of technology -not just for collaboration but as a planning and monitoring business tool for complete project management or project delivery. Increase reliance on technology, decrease reliance on human effort. • Keep sight of the bottom line and get more control over cashflows by using software technology to ‘connect the dots’ i.e. to link budget to schedules, deliverables to quality, and so on.

1. Seizingadvantageinadownturn
How a leading American Oil & Gas EPC company turned the
recent global oil crisis into an engine of successful transformation
Speaker:
Varghese Daniel
Founder and CEO
Wrench Solutions

2. OurClient,today
Leaderin naturalgasprocessingandtreatmentand
compressionproductsandservices
Verticals
Oil & Gas
Power
Water
Business Lines
Product Sales
Contract Operations
Aftermarket Services
Geographic Footprint
North and South America
Europe, Middle East, Arica
Asia Pacific

3. Persistentchallengestogrowth
Acquisition-led Growth
Differences in processes,
methodologies, (multiple)
systems and culture
Teams and competencies
geographically spread across US,
Canada, Mexico, UAE and Singapore
High operational
cost structures of
internal teams
Thekeychallengesstemmedfromacquisition-ledgrowthandintegrationissues.

4.  Existing process were automated.
 Enabled collaboration between office.
 Off shored excess work to low cost vendors.
 No standardisation between multiple offices.
 ERP implemented in each location independently.
 Work executed by nearest factory with local offshoring
Engineering
Manufacturing
Theroadtotransformation– 1st attempt
AutomatetheexistingprocessusingTechnology

5. SurvivingtheOil&Gasdownturn(2013-2018)
1234 Reduce Fixed Cost
Balance Workload
Unify Processes & Systems
New Business Models
OilandGasprojectswentin disarray.In 2018,theyhadno projectsforover6 months.
THE WAY OUT

6. Theroadtotransformation-2nd attempt
Technology
Process
People
Transformandintegratepeople,processandtechnology

7. Step1- NewBusinessModel
 New ventures by transitioning
from Product company to Services Company.
 Solution offer by bundling multiple products.
 Faster time to deliver by offering solution from
anywhere.
 Offered customers end product at competitive
service cost by investing, designing, building
and O&M on a long term contract.
Devisenewbusinessmodelsandofferingsto bettermeetcustomersneedsaffordably

8. Step2 – Unifiedprocesses& Systems
 Unified processes independent of the office
location and people.
 Integrated all resource on an integrated
process for 24 hour execution cycle – “One
company”.
SetupglobaldeliveryProcesses
NORTH
AMERICA
SOUTH AMERICA
SINGAPORE
MIDDLE EAST

9. Step3 – Reducefixedcost& Balanceworkload
 Retained the engineering R&D teams in each
location and rationalised the no of offices.
 Leverage in-house expertise spread
geographically.
 Identified 16 high value partners globally for
generic work and integrated them on a
common platform (70:30 ratio).
Decentralisedtheworkforceandrebuiltit to leveragespecializedfreelanceandnon-full-timetalentfrompartners
to lowercostsandimprovequality
70%
Savings in
fixed costs
 Only the core equipment's were manufactured
inhouse
 Non-core equipment's were outsourced to vendors
and fabricators
Engineering
30%
Savings in cost of
inventory, material and
purchase
Manufacturing

10. Step4 - TechnologyAdoption
 Defined standard product catalogue and retrofits for
maximise reusability.
 Implemented 3D design application – Design for
easy maintainability
 Enforced quality management process across the
organisation – One Company
 Defined standard roles and responsibilities for
deliverable execution.
 Definition of approved vendors and definition of
access control across organisation.
Standardisation

11. Step4 - TechnologyAdoption
 Planning and definitions of Rule of credit for
deliverables and activities.
 Automated Engineering deliverable management
process across all stakeholders – Common platform.
 Collaborative Inter discipline digital commenting and
comment resolution management.
 Automated Design data management with audit trial.
 Digital exchange for review and approval with Client
and Vendors.
DigitalCollaboration

12. Step4 - TechnologyAdoption
 Digital exchange of Engineering specification and PR
with procurement.
 Digital exchange of Engineering and Material fronts
to Manufacturing.
 Realtime monitoring of activities and progress across
the EPC lifecycle
 Automated S-Curves and capture of schedule
variance.
 Automated Dashboards and reports for real time
monitoring.
 Automated notifications based on potential delays
and take necessary corrective action by forecasting.
Real-timemonitoringandcontrol

13. Step4 - TechnologyAdoption
 Access to Client for project reporting and handover.
 Unified the ERP process across the organisation.
 Integrate EPC deliverable with ERP.
 Implemented Process driven change management.
 Digital handover of As-build to Client at close out.
 Archival of all project data in central system for
warranty and service.
Integrationof systems

14. Voiceofthecustomer
Following one of the last oil & gas downturns, the need to have a single system that connects all the
operations, as well as interact with vendors efficiently became critical to execute large global integrated
projects. This global workforce model has allowed us to leverage the in-house expertise in critical areas,
improve global collaboration and minimize project team mobilization needs.
To ensure effective communication on these fast paced projects, we swiftly moved the operations to the
virtual space by setting up a global online collaboration and information sharing platform on which
vendors, consultants, and in-house teams would interact. The strategy showed success and the company
is looking at expanding this concept to operations.”

15. Takeaways,inthecontextofCOVID19
 This is the perfect time to build a lower cost, more flexible platform for growth, both to begin recapturing lost
revenues and grow business.
 Companies should rethink their use of technology - not just for collaboration but as a planning and monitoring
business tool for complete project management or project delivery. This is the time to Increase reliance on
technology, decrease reliance on human effort.
 In the midst of change, companies should keep sight of the bottom line and get more control over their cashflows by
using software technology to ‘connect the dots’ i.e. to link budget to schedules, deliverables to quality, and so on.
Engineeringindustryhassuccessfullyvirtualizeditsprocessandenabledworkfromhomein responseto COVID-19,
butnowexpectationshavechanged(bothin theworkforceandwithcustomers).
DOWLOAD white paper from
our website which walks you
through this transformation
exercise.

16. THANK YOU
www.wrenchsp.com
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