ResourcePoint
Financial Management for the Oil & Gas Industry
Financial management and reporting is the foundation of your accounting, resource planning and systems integration needs. Typically the first application you put in place, your financial suite must meet your business and industry requirements today, but also set a platform for tomorrow.
SunSystems Enterprise Financial Solution offers;
- Joint venture reporting at consolidated general ledger level
- Dimensional analysis - allocation of costs to projects/locations etc for deep reporting and analysis
- Multi currency – captured at transaction level
- Multi lingual – multiple languages available on single installation
- Scalable to suit global rollout – also remote support, range of deployment options
- Simple user interface – less training or support required
- Supports multiple charts of accounts for multiple companies/business units in a single database
- Low risk – proven solutions for Oil & Gas industry
- Low total cost of ownership - rapid implementation methodology
- Governance and controls – supports statutory reporting.
Features
Financial Management for Oil & Gas
SunSystems Financial Solutions delivers advanced financial functionality through integrating project management costs and budgets with your corporate financials. From initial drilling through to production, you can more effectively invoice and pay your partners, manage your cost centre, control expenditure, and drive efficiency into your business processes. Suitable for both small and complex sites and international operations, you can efficiently keep your costs under control by monitoring them by cost centre, Division of Interest, or Authorisation for Expenditure. Features include:
| Financial Management |
- Use multiple dimensions to sort and process oil & gas financial information.
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| Cost Centre Controls |
- Manage cost centres and properties for drilling to production. All activities and costs can be assigned to reporting hierarchies.
- Overhead management capabilities enable you to automatically generate overhead charges to cost centres based on fixed or variable rules.
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| Division of Interest |
- Establish flexible, financial period-effective pision of interest with the capacity to support account based exceptions
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| Joint Venture Billing |
- Streamline the distribution and billing processes for joint interest transactions.
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| Authorisation of Expenditure |
- Measure actual against budgeted costs on both a gross and net basis. Get updates and threshold warnings to help you control capital expenditure.
- Generate and manage cash calls and AFE supplements on projects.
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| Enhanced governance & compliance |
- Use of Multiple charts, Analysis Dimensions and Budget Ledgers simplifies compliance with international regulations and reporting requirements.
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| International |
- Supports multi location, multi currency, multi language requirements.
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Benefits
Global Financial Management
Infor SunSystems Enterprise is a comprehensive, global financial management system that specifically designed to provide immediate access to all finance and accounting information for fast and effective decision making. Features include:
- SunSystems has a combined ledger without having to wait for batch updates or reconciliations.
- Separate entities with same base currency and chart of accounts can be accounted for within the same business unit in SunSystems. There is no need to change business unit for different entity as required in other solutions and results are already consolidated.
- Can have multiple user defined ledgers to house budget, forecast in a centralised location for easy reporting.
- SunSystems Financials provides true dual base currency processing and the ability to maintain different transaction currencies on a single transaction. The built-in ledger revaluation function can revaluate transaction currencies into base currency and post resulting exchange difference
- Combination of accounts and analysis codes allow efficient consolidation process carried out within SunSystems. Consolidation Elimination entries can be recorded and processed for group consolidations.
Query & Analysis
ResourcePoint also includes Query & Analysis (Vision), a dynamic, multi-currency set of business intelligence tools that is powerful, flexible, secure and easy to use. Query and Analysis has the following features :
- Integration with Microsoft Office enables quick user adoption with minimal training and technical skills.
- Information is provided in an intuitive user interface with common names for database structure.
- Ability to publish reports to the web and SharePoint, printed, emailed to recipient or saved in PDF format.
Learn More
Infor SunSystems Enterprise
Eclipse has over 18 years experience in implementing SunSystems. Chosen for its robust general ledger and flexible reporting options, SunSystems is one of the strongest financial solutions available in today's market. Perfect for Oil & Gas companies in upstream sector, SunSystems will deliver all the financial control you need today and tomorrow.
Below: Ledger Entry screen
Implementation Methodology
Eclipse has developed an 'Oil and Gas Implementation' methodology to ensure your site is up and running as quickly as possible. Using preconfigured templates developed from years of experience in the Oil and Gas sector, our methodology delivers a standard setup and functionality for a 'best of breed' industry solution.