Financial leakage can affect any organisation, making it vital to review workflows and processes regularly.
Improvements can take many forms, from conducting training sessions and implementing consistent processes, through to integrating more effective technology. One of the biggest causes of financial leakage, however, is something that many companies overlook in their audits: inaccurate data.
This paper focuses on drilling and sampling workflows in the resource industry. Including how they are created, factors that are involved in the workflows such as people, plant, contracts and data capture, and activities that can lead to financial leakage occurring.
This paper also provides recommendations on how businesses can make changes to improve workflows in these many factors. It also discusses how accurate, real-time data can greatly enhance efficiencies ultimately enabling informed business decisions and improve operational profits.