Digital Energy Journal- PIDX goals - transition, modernisation, adoption

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PIDX goals - transition, modernisation, adoption

Thursday, March 18, 2021

The goals for oil and gas e-commerce standards association PIDX, over the next 5 years, are around the energy transition, modernisation of the standards, and encouraging adoption, say board members Chris Welsh and Amit Sethi.

The strategic goals of oil and gas e-commerce standards association PIDX over the next 5 years are around the energy transition, technology modernisation and adoption councils, said Chris Welsh, CEO of OFS Portal, and Amit Sethi, global digital customer experience leader at Baker Hughes GE. Both are board members of PIDX.

Modernising standards

PIDX is also keen to find ways to modernise its standards. With so much software being cloud hosted, e-commerce can increasingly mean connecting together different cloud software systems, rather than finding a way to communicate electronically, said Chris Welsh, CEO of OFS Portal.

'We need to make sure PIDX is helping organisations talk to each other across the internet from cloud to cloud in a secure way.'

PIDX is looking at getting involved with cloud to cloud API integration.
It could set up standard data sharing agreements between PIDX members.

There are ways software can be developed to make data sharing easier between systems, including using JSON (JavaScript Object Notation), a data interchange format using human readable text, and RESTful Web Services, a software architectural style that defines a set of constraints to be used for creating Web services.

If companies increasingly use blockchain for managing data about transactions, PIDX could play a role in 'tokenisation', where secret data is converted to a token by a trusted third party, so it can be passed through the chain without revealing the data.

PIDX could also make the XML structures of its standards more flexible, by moving to dynamic XML schemas. Many requirements of the standards have changed over the past 2 decades since they were introduced, including different tax jurisdictions, governments doing electronic invoicing in different ways, tax reporting requirements and fiscal compliance requirements.

The standards could also be posted on GitHub, rather than just on the PIDX website.

Adoption

PIDX is keen to see more adoption of its standards. The standards are adopted by 80 per cent of companies in North America, but only 8 per cent in Europe and South America, and only 2 per cent in Asia, India and Australia, Mr Sethi said.

And in North America, not all of the standards have been adopted.

Many organisations make a decision to adopt the standard, but struggle to get it adopted in their company.

It might be useful if companies were encouraged to report on the business outcomes they gained from adoption, such as improvements in productivity or cash.

PIDX is considering setting up a 'Standards Adoption Council,' he said.

Associated Companies
» PIDX International

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