Meet change with confidence.
As financial managers for oil and gas enterprises know, accounting is not an easy task when you view the world as a single market. You must manage a vast number of local variations in language, currency, and standards for doing business, staying consistent while you track purchases through the complexities of a joint venture exploration project. Your reporting and analysis requirements are daunting too.
Wave works closely with some of the UK’s leading energy companies, providing solutions to meet the complex global and local requirements for J-V accounting, reporting and planning requirements. We understand that in today’s hyper-competitive economy you need a multidimensional system that lets you leverage your existing technology investments, integrate international offices with minimal customisation and maintenance, and tap critical information about your business performance.
The Infor10 (SunSystems) Proposition:
Infor10™ Financials Business (SunSystems) for Oil & Gas is used extensively in the upstream oil sector because of its ease and speed of implementation; its flexibility in determining procurement processes; and its powerful joint venture cost allocation capability. Use it to integrate general ledger, accounts payable, fixed assets, and other financial processes with your operational systems.
Infor10 Financials Business (SunSystems) for Oil & Gas to helps you manage all the financial processes for each of your business units, no matter how disparate in geography or function. You can configure the system for different types of businesses, such as for joint venture (JV) accounting, enabling you to capture authority for expenditure (AFE) codes for both actual and budget figures.
You can store an unlimited number of currencies within the system, providing automated currency conversion when entering a transaction. You also have access to the Global Essentials, a requirement for success in any international market, including different books for different local reporting standards and the ability to easily enter GAAP adjustments. You also gain the ability to support a transaction with at least four currencies. This is a feature that other financial systems just can’t match. In addition, deploying a single solution helps you decrease risks, improve communication, and plan more wisely across your enterprise.
To discuss your requirements in detail, please call us on 020 7043 9357 or submit your contact details here and we'll be in touch as soon as possible.
Click here to review our available white papers, Including "Sea Change: Transitioning to IFRS" - How Oil and Gas E&P Companies Can Manage Upheaval in Global Financial Reporting Standards.