Now that there is just one centralised system, processes are automated and information is available in real-time, visible to relevant people across the group. Petroceltic are seeing a more consistent approach to their month end routines – joint venture accounting, foreign exchange re-evaluations, accruals, cross company charging, inter-company reconciliations and all their month end activities. The implementation of iDocuments approvals has speeded up procurement and empowered staff to perform their roles with greater efficiency. Key benefits include one consolidated drill down report enabling easy cost analysis for the whole company or any individual asset, cost control and enforcement of accurate coding at the point of procurement and automated processes with minimum manual intervention.Īll financial reporting is now generated directly from within the system with minimum manual intervention, and Petroceltic has automated billing statements that are consistent across the group for their various joint venture partners. The project started in October 2013 with a go-live date of January 2014 and was delivered on schedule.Įssentially the new implementation has resulted in a centralised, unified easy-to-use system. The next phase of iDocuments will roll out time-writing and expense management at a low incremental cost. iDocuments was set up for purchase orders, invoices and travel requisitions, with in-built delegation of authorities and automatic re-direction depending on whether expenditure is budgeted or not. With a full suite of software designed for use across all levels of the organisation, iDocuments was implemented to feed procurement data into SunSystems to achieve maximum ease-of-use by financial and non-financial staff across Petroceltic’s multinational sites. Inter-company transactions resulting from cross company purchasing were also automated within the solution to avoid duplication of work and subsequent processing. These reports automated the generation of financial accounts and management reports, resulting in cost-savings and enabling management to have reports delivered earlier to facilitate decision making. Once this was done, data was mapped from the legacy systems to the new system.Ĭareful implementation resulted in a full suite of customised reports, easily extracted using Q&A. The collaborative design of fundamental ledger analysis codes was the next step, allowing easy and quick analysis of costs. The merger offered an opportunity to reconstruct a neat and concise chart of accounts – circa 500 general ledger codes long – effectively structured around the financial statements and management accounts. A series of design workshops were led by Progressive targeting reporting requirements, chart of accounts with analysis for oil and gas accounting and strategies to achieve optimum system performance. Petroceltic had lots of ideas and a clear vision, they needed a team who could work with them and challenge them in order to achieve an optimum solution. With Progressive’s sector specific experience and depth of expertise in implementing and re-implementing SunSystems, collaboration between Progressive and Petroceltic was key. SunSystems has a good track record in the oil and gas industry and iDocuments offered a web-based, user-friendly interface with high accessibility. A new implementation of Infor SunSystems, together with iDocuments for procurement and Infor Query & Analysis (Q&A) for enhanced reporting functionality, was agreed to be the optimum solution.
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