June 24, 2009 - IFS enhanced its offering for engineering, procure and construct (EPC) contractors by launching the EPC Toolkit, a standardized, agile tool that enables complete control of projects, regardless of their size. Most contractors are unable to achieve this with their current business software. The EPC Toolkit can easily be integrated with all types of enterprise applications.The EPC Toolkit provides system support for all the operational processes in an EPC project, including project management, engineering, material management and job costing.Most contractors today have either fragmented IT solutions, home-grown solutions or standard enterprise applications that lack support for operational EPC processes.
At the same time, the industry is experiencing a significant change in the size of the projects they take on. Many enterprises have adapted their business applications to mega-projects, but are now faced with changing their procedures and methods to support smaller projects including asset modifications.The oil and gas industry is also experiencing new opportunities in the form of international projects, and new operators must be agile enough to adopt new standards and methods in order to handle these global projects safely and efficiently. IFS, which has long provided IT support based on NORSOK standards, will include IS O 15926 in its portfolio of standards supported by the EPC Toolkit.