Change is the only constant and the speed of change has always been considered high and ever increasing. This is as true today as ever for the energy industry. We see a rapid increase of supply through the shale oil and gas in the US and a decline in demand. This has in turn reduced the price drastically. To make things more challenging on a short term, OPEC has stated that they will not reduce their production to push the prices back up. All this will force an entire industry to look for smarter and more cost efficient ways to work.
An industry or a company in distress has proven a very effective tool to promote innovation. You might have heard the term innovate or die or “burning platform”, both are responses to a crisis and you don’t want to be there. In Axess we believe in taking care of innovation on two levels. The first level is through every day operation and continuous improvement. This is the major part of all our development and innovation. By continuously improving and developing our services we don’t fall behind the competition.
The second level of innovation is when we need new knowledge, systems, partners, organizational structures or other larger and more complex improvements. The development of EquipTM is a good example of this. Axess had little to no experience in developing software. We had to build a new organization ending up as a subsidiary company in the Axess Group developing software complimentary to our services. Today we use EquipTM as our tool for inspection of all lifting related equipment offshore. This system is widely used by our customers with over 100 installations utilizing EquipTM. It has increased the value for the customer greatly in addition to raising the bar on efficiency in the industry. EquipTM was launched as a demo late 2012 and has grown to become a great success.
Both the short and long term development project has one very important thing in common, the customer is in the center. All our innovation projects are strongly funded on customer needs and usually co-created with the customer.
This way we ensure that all the needs are met and that the customer gets what they need and want. With hundreds of employees interacting with customers each day we discover unmet needs on a daily basis and respond to them in the best possible way.
We believe that our approach to innovation with both short term continuous improvements and the longer and more strategic development projects serves our customers very well. We are ready to meet the new challenges in the market and will continue to improve our existing services in addition to offer completely new services to our customers. We promise to stay ahead of the game by delivering great value to our customers, adapt to change and prepare for the future