September 12, 2018
Quorum Software Releases myQuorum Data Hub to Maximize the Value of Data for Energy Companies
Quorum will feature the new data-as-a-service offering at booth #635 at SPE ATCE
HOUSTON, Sept. 12, 2018 – Quorum Software, the leader in digital transformation for the oil and gas industry, has launched its next technology evolution with myQuorum Data Hub, a platform extension, which helps companies realize the strategic value of their most critical asset – information.
“Quorum prides itself on creating software that helps our customers. This latest myQuorum extension brings data front and center, delivering it to our customers in an easily consumable manner so they can use almost any tool they want for reporting and analysis,” said Tyson Greer, Chief Product and Technology Officer at Quorum. “It isn’t enough to simply provide the functionality needed to run the energy value chain, we have to actively progress the modern energy workplace, and that starts with data.”
Whether in the field or the office, data helps to inform decisions, measure successes and failures, and is critical to ensuring healthy oil and gas operations. Yet, companies and business users are faced with challenges. Harvard Business Review reports only 3 percent of companies’ data meets basic quality standards, and over 60 percent of workers are seeking better access to business data.
Business users need streamlined access to quality data in order to trust insights and make well-informed decisions. myQuorum Data Hub pulls vital data from myQuorum business applications and, after cleaning and simplifying it, stores the data securely in the cloud for access by any leading business intelligence application, like Microsoft Power BI. With myQuorum Data Hub, users don’t face the traditional challenges of maintaining databases, reports, connections, and data models. Decoupled from the core application infrastructure, Data Hub makes critical operational and financial data available to business users, decision makers, and analysts.
“Data underpins the ongoing digital transformation, which in turn drives emerging corporate strategies. Traditional revenue streams for oil and gas companies and utilities are experiencing disruptions of 15 and 29 percent respectively through 2018. The companies that will successfully navigate the ongoing transition to the 3rd-Platform are prioritizing data integration and access to fully extract DX’s promises of operational efficiency, increased profitability, cost reductions, and improvements to customer satisfaction and employee productivity,” said Kevin Prouty, VP Energy Insights, IDC.
By combining decades of oil and gas business processes with expertise in business intelligence, Quorum’s new offering helps customers move to data-driven decisions and away from instinctual reactions. The incremental approach to delivering application-specific packages for Data Hub ensures that customers and users see value immediately as well as reducing the burden on business analysts and bolstering returns on data initiatives.
Quorum will be exhibiting myQuorum Data Hub, as well as Reserves and Economics, Well Lifecycle Reporting, and Production Operations, at the SPE Annual Technical Conference and Exhibition (ATCE) in Dallas, Texas September 24 – 26, 2018. As part of the Modern Energy Workplace, these solutions drive efficiency and agility for upstream businesses and put data at the center of all decisions for improved actions and insights. Quorum will be exhibiting these technologies during SPE ATCE at booth #635.
myQuorum Data Hub is available for select myQuorum applications with several customers already live, and new packages adding new data sets each quarter. For more information on myQuorum Data Hub, visit quorumsoftware.com/platform-overview/myquorum-data-hub.
About Quorum Software
Quorum offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. From the field to the back office, defying complexity is coded in our DNA and our software. This unmatched experience is why Quorum is the choice of eight of the largest public energy companies worldwide, 75 percent of LNG exporters throughout North America and 80 percent of all natural gas processed in the United States. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought. At Quorum, we’re helping visionary leaders transform their business, and the energy industry, for a digital world. For more information, visit www.quorumsoftware.com.