The virtual command center’s view of the market is going to demand that most oil and gas companies shore up cash coffers. However, given multiple rounds of operational efficiency, workforce rightsizing, competitive sourcing and wider transformation efforts over the past five years, energy companies are short on cash optimization ideas that would hit the bottom line fast. Resorting to across-the-board cuts is not the answer. Organizations will need to shift from asking, "how much should we cut" to "what do we need—starting from a clean slate—to run our operations optimally". This line of thinking should have a specific focus on three areas likely to deliver 15% in CapEx and OpEx savings—Third-party spend, working capital forensics and streamlining the organization.

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The need to strategize spend at pace is going to force companies to embrace new tools and methods:

  • AI-driven mapping technology to understand cost variances
  • New scripting tools to process data
  • Visualization tools that enable focusing on the opportunity
  • Collaboration tools to drive actions


Fortunately, companies likely have the right budget tools already. If they link them to industry-leading practices, they can create a new kind of "spend visibility." In-house or external experts make it all the easier to create and develop real, practical solutions to budget woes quickly. To implement these tools and methods, companies can take a top-down or bottom-up approach:

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Projections based on Accenture analysis and experience working with oil and gas companies.

Disclaimer: This document is intended for general informational purposes only and does not take into account the reader’s specific circumstances, and may not reflect the most current developments. Accenture disclaims, to the fullest extent permitted by applicable law, any and all liability for the accuracy and completeness of the information in this presentation and for any acts or omissions made based on such information. Accenture does not provide legal, regulatory, audit, or tax advice. Readers are responsible for obtaining such advice from their own legal counsel or other licensed professionals.

Muqsit Ashraf​

Senior Managing Director – Global Energy Industry Sector Lead


Manas Satapathy​

MANAGING DIRECTOR – ENERGY, STRATEGY AND CONSULTING


Vivek Chidambaram

MANAGING DIRECTOR – ENERGY, STRATEGY AND CONSULTING

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