Building for the future

Published: 10.12.08

Where there is risk, there is opportunity – if you are ready for it. As Omega’s Chief Executive Officer reflects on the latest period in the Omega concern’s development he reveals an organisation that is adaptable and ready to maximise business opportunities.

Solid growth

Omega has experienced solid economic growth over recent years, a trend that has gained the attention of industry onlookers. Repeated listings in Deloitte Norway’s Technology Fast 50 (ranking the country’s 50 fastest-growing technology companies based on percentage growth over five years) and a recent ranked as Norway’s fourth largest software company on Kapital’s list for 2008, have seen Omega recognised as a prominent supplier to development projects. At the same time, the company’s solid financial performance has been supported by the achievement of HSE milestones and the ongoing development of a positive corporate culture.

The Omega concern achieved a turnover of 494 mNOK in 2007, and the predicted turnover for 2008 is likely to be in the vicinity of 650 mNOK. Omega AS itself is responsible for the majority of this growth; however Omega IAT (engineering and architectural services) is also experiencing strong growth and was featured on Dagen Næringsliv’s Gaselle list for Rogaland. Since the beginning of the year, Omega’s international operations have grown to approximately 80 mNOK in annual turnover.

Big enough to deliver, small enough to care is Omega’s motto. Despite Omega’s growth and success, the company’s focus remains on being small enough to care. It is often the little things that make big differences, and Aalvik is quick to point out the importance of looking after team members.

“Omega’s team is growing quickly. At the beginning of 2008 we were a team of 483, that figure is already 600. How do we make this dispersed workforce a team?”

Aalvik cites teambuilding events as having been one of the most instrumental means of developing Omega’s team focus. As part of the Advantage programme, several trips and get-togethers are organised for the employees each year.

“Telephone, e-mail and contact on TeamDocuments goes a long way, but it’s a hand shake and a ‘nice to see you again’ that really cements a relationship with a colleague. The challenge now for Omega is to ensure that even our busiest employees have access to attractive Advantage offers, allowing us all to take time out together whilst also building our knowledge network.”

It’s the little things that build a competitive and flexible team.

Structure for success

According to Omega’s CEO, the solid growth of recent years has not been down to chance, but is instead a product of Omega’s increased understanding of clients’ needs, achieved through hands-on project experience.

“Many members of Omega’s Management team have been engaged fulltime on oil and gas projects, and some have alternated between project work and their Omega responsibilities,” explains Aalvik.

“This hands-on approach allows us to gain a closer understanding of the challenges that Omega consultants, system engineers and clients face, allowing us to make decisions that we know will improve project execution.”

Omega is involved in projects that utilise Pims in many parts of the world, offering opportunities to those employees who are interested in international assignments. The company’s international focus is also evident at Omega headquarters in Ølensvåg, where Omega has established an International Business Support Team; the team is on hand to assist consultants with tax issues, visas and living requirements.

“The increased administrative support has made a big difference, but we still need a bit of pioneering spirit from our people in order to resolve some issues, particularly in new locations as we climb a steep learning curve.”

The move of former Omega PS (Project Solutions) President, Kjell Åge Iversen, from Houston to Singapore, has paved the way for growth in Singapore, and the move will offer him good preparation for the International Manager position he will take up next autumn.

In order to offer consultants more local and personalised service, the Project Services team has also been bolstered. During the last 12 months the team has been strengthened by the addition of four department managers, in three locations.

In the Project Systems department, Morten Sørenes was appointed Manager in early 2008 and several Project Managers were promoted to Department Manager positions to provide an improved platform for expansion. The change has already paid off with Project Systems having welcomed 13 new system engineers, new clients, and a wealth of new business opportunities.

Standing the test of tough times

With the drop in oil prices and market turbulence internationally, there is no doubt many of the industry’s key players will be paying more attention to their purse strings as they contemplate future activities.

“Sure, tough times call for new measures. Our clients will no doubt take an even closer look at the frame agreements they have in place and the organisations they have supporting their growth.

However, Aalvik is confident Omega has just the qualities clients will be looking for.

“What is it our clients will be on the look out for? Low risk players with strong reputations, streamlined business models and a HSE focus. The right people – experienced, hard-working professionals who have stepped up to the plate for them before; and systems that allow leaders to optimise project progress whilst managing spend. This is just what Omega delivers and I feel that we are doing so better than ever before.”

Milestones from 2008

• Appframe R3 was launched after a comprehensive technology development project. The framework is now being rolled out for many of our Pims clients.
• Omega was the first company to fulfil BP’s “digital security review” and “penetration testing” requirements.
• The Pims team in StatoilHydro, after a considerable effort, converted the functionality of the two companies to one shared Pims solution.
• The Shtokman project welcomed its first Omega team member.
• The new building at Omega headquarters was opened in January 2008.
• Omega was ranked fourth on Kapital’s list of Norway’s largest software companies.