When large oil companies purchase miles of steel piping, their vendors have to be responsive and reliable in order to stay on their call list. A string of steel pipe can cost upwards of $30,000, making it a very expensive commodity of which to keep accurate accounts. Supply chain management of this industry has been a serious problem all over the world. In order for vendors to make the sales and function effectively, inventory management is the key.
Oklahoma-City based company Arecon Data has developed an asset management software program to address this large and reoccurring issue. To address this problem, a software program called Tally Wizard has been developed by Arecon Data President and Founder Jeff Arms that targets small and medium-sized pipe suppliers and can build efficiency in supply management.
The capabilities of the program supersede its target market into not only large enterprise pipe suppliers, but other industries, as well. With a user friendly interface based on a Microsoft platform, Tally Wizard is designed to be easy to use at the forefront, while making technical strides behind the scenes.
Additionally, Arecon Data has taken their software to the “Cloud,” making it possible for them to provide their services to companies all over the globe. They are working with clients in throughout the U.S. and in Canada, Great Britain, Egypt, Saudi Arabia and Scotland.
The Cloud service Arecon Data provides allows companies to see their inventory across multiple locations in real-time. Additionally, the security of these databases is strong, especially given Arms’ background in database security with the Department of Defense.
Arms has over 16 years of experience in the software and IT industry and has performed IT contract work on large federal infrastructure and database deployments and has worked extensively with Microsoft and McAfee engineers. He realized there was a huge industry need to bridge the gap between client needs and vendor information while he attended the University of Oklahoma and worked for five years as a pipe yard foreman. Using his expertise and passion for both industries, Arms began developing Tally Wizard and found a way to integrate the two biggest industries on the globe today: energy and software.
“Companies need the most accurate information as possible and they need it quickly. That’s the beauty of our product – it tracks and manages inventory while also eliminating guesswork,” said Arecon Data’s Senior Vice President, and spouse of Jeff Arms, Maria Arms.
Maria said the most prevalent inventory management system in the oil and gas industry today is a Microsoft Excel spreadsheet and that the rate of error in using this process leaves much room for improvement and added profitability. She said many users find other software to be too complex and time can be wasted due to lack of technology to meet business needs.
Jeff said his software is the the best program that an oil and gas company can invest in to track their assets in real-time because unfortunately there hasn’t been a standard for tracking to date, and there are still some companies and pipe yards that rely on legal pads and pencils to keep track of their equipment.
Arecon Data’s software is not just for tracking pipe, but is also for use to track expensive equipment, consumables and government regulatory compliance on leases and wells.
“We can take the most technically-challenged oil field worker and train them to use our software in less than an hour,” Jeff said, “and that information is then pulled from throughout the organization up to corporate-level so they can make real-time decisions and do things they never dreamed possible with managing their assets and staying accountable for government regulatory compliance.”
Maria realized the industry’s need and knew her husband offered a technical solution that had the potential to grow into something much larger. It was this realization that led her to explore the possibility of Arecon Data becoming a client of Moore Norman Technology Center’s Business Development Center and working with BDC Coordinator Greg Kieson.
“His (Kieson’s) connections and veteran status in the business community has been an added bonus to the whole picture. From the time I inquired with him, to the time we moved into the BDC, it all happened within one month. Greg knows exactly how to help small businesses move in the direction they need to in order to grow quickly,” Maria said.
“MNTC has the resources to help us achieve our goals. We are able to utilize such things as financial growth strategies and an international copyright lawyer,” Maria said.
A former business owner herself, Maria notes the difficulties that come with owning and operating a small business, but said the structure involved in becoming a BDC client give her and her husband the confidence to move ahead with their dreams for Tally Wizard and Arecon Data on a larger level.
“We have built the Arecon Data team with expectation of international growth and technology advancement. Keeping in mind the day-to-day process, we plan to meet the ever-changing demands of the oil and gas industry,” Maria said.
This spring Jeff was nominated as one of The Journal Record’s 2012 Innovator of the Year selections. Jeff said the nomination made him proud as an entrepreneur and said that gaining recognition for all of the effort his team has put into developing and growing the company felt great.
For more information about Arecon Data, or the Tally Wizard software, visit www.arecondata.com. To learn about MNTC’s Business Development Center visit www.mntechnology.com or call 405-809-3517.