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WHAT CFOS SHOULD BE ASKING THEIR ACCOUNTING AND IT DEPARTMENT HEADS

With 2019 underway, make sure your team has a plan to efficiently leverage your IT budget.

Upstream oil and gas ERP applications, such as Bolo, Enertia, Excalibur, Oracle/EU, Quorum, SAP/PRA, and W Energy, are powerful business tools, but most companies do not use these applications to their full potential. Deep functionality is often not employed when the system is implemented and goes unused. Untrained users limit efficiency by misusing the system. A lack of integration with other key systems drives dual entry and data mismatches across systems.

Here are four important questions that CFOs should be asking their IT and accounting department heads when aiming to optimize IT application costs:

1. How much of IT’s time is taken up by addressing users’ application complaints or troubleshooting users’ inability to successfully complete a business process within the application?

2. Do the applications we currently license fulfill the users’ needs?

3. Do we have a set schedule for application upgrades, and do we take advantage of newly released functionality when we upgrade?

4. How can we streamline process flows within and between departments?

Magnum Forge has a reputable history of assisting upstream oil and gas organizations in working through these questions and establishing an achievable plan to maximize their IT investment.

Let us introduce our services now so when it’s time to make a change, you know who to rely on for help.

Call us at 713.206.8489 to learn more about our upstream oil and gas software services.