In this episode I intro Mark Hall as a new cohost and we speak with David Borowski, a senior advisor of West Monroe around the current state of outsourcing in Oil & Gas and the challenges of value based contracts
We explore the factors that influence successful relationships and the cost of choosing the wrong partner, the evolution of services and the transition to digital work and the need to break old paradigms. The emphasizes the role of advisors in creating a forum for engagement and dialogue.
The conversation concludes with appreciation for the insights shared and the invitation for further discussions.
- The oil and gas industry still predominantly operates on a transaction-based model for IT outsourcing, but there is a growing need for value-based contracts.
- Data availability and trust are key challenges in transitioning to value-based contracts.
- Successful relationships require investment in governance structures and flexibility in commercial models.
- The focus should be on creating value and outcomes rather than just managing costs.
- The transition to digital work presents an opportunity to shift the mindset towards value creation.
- Breaking old paradigms and embracing new approaches is necessary for the industry to evolve.
- Consulting and advisory services need to focus on facilitating successful partnerships and providing real advice.
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