When profits are squeezed, it might be time to look at a new way of operating. Energy companies are cutting the more obvious costs where they can, but according to technology experts inefficiencies seemingly built in to systems can be eliminated by integrating data-sharing.

Oil and gas companies “must avoid the temptation just to cut costs in hopes of surviving today’s price crunch,” Cisco Consulting Services said in a recent report on digital transformation of the energy industry. “Instead, they must view the current scenario as an opportunity to make technological and business process innovations that will drive competitive advantage now and in the future.”

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