What is a Service Master?

1. Service Number/Code – Unique identifier for each service.
2. Service Description – Standardized wording for clarity and consistency.
3. Unit of Measure – How the service is quantified (e.g., per hour, per job, per day).
4. Pricing Conditions – Predefined cost structures for procurement and invoicing.
5. Classification and Grouping – Categories for reporting and spend analysis.

‍

For companies in oil, gas, energy, and other asset-heavy sectors, service master data is critical to ensure contractual compliance, vendor management, and accurate maintenance cost tracking. Without standardized service records, organizations risk duplicate entries, inconsistent pricing, and errors in procurement.

By implementing robust service master data processes, companies can:

• Improve visibility of external service costs.
• Ensure compliance with contracts and supplier agreements.
• Streamline maintenance and turnaround projects by linking services to work orders.
• Enhance analytics and reporting on service spend.

Sharecat Data Services helps organizations cleanse, standardize, and enrich Service Master records alongside material and spare parts data. By ensuring clean and consistent service master data, Sharecat enables reliable ERP, CMMS, and EAM system performance.

‍