UC-491
Improve Rig Rate and Renewal to protect revenue and get paid faster
Fills the rate and renewals page: every renewal ranked by its gap to the best comparable award.
TBDBuild Duration
XXXXIndicative ROI
XXXXBuild Cost
XXXXValue
The Challenge
The opportunity is to eliminate a renewal priced off last year's rate, a bid with no cost of the rig in it, and a term signed without the comparable set. The proposed workflow is source-linked, but the current operating baseline and financial value remain illustrative until validated with the client.
How It Works
- The engine holds every contract, its term, its rate and its performance terms against the operating days it covers.
- For each renewal and each tender it builds the comparable set: same rig class, same basin, same term length, same customer history, and the cost to run that rig from Engine 01.
- It then shows the gap to the best comparable award of the last twelve months, and what that gap is worth over the days remaining.
What It Removes
- A renewal priced off last year's rate
- A bid with no cost of the rig in it
- A term signed without the comparable set
Input Data RequirementsField tickets, contracts, rate cards, invoices, approval records and accounts-receivable status
Output FormatDashboard showing every renewal ranked by its gap to the best comparable award.
“Before I sign the renewal I want the best award for that rig class in front of me.”