France-based technology provider Capgemini has launched a cloud-based version of its READYUpstream solution to help streamline finance, accounting and operations processes for upstream companies
Carlos Martinez, vice-president of Capgemini North America application services, said, “READYUpstream helps integrate and streamline field operations, finance and capital management processes into a single and integrated platform. This platform, now available on the cloud, provides users with a single view of critical financial and operational data to help effectively manage operations to quickly identify non-profitable assets and capitalise on assets that may contribute to higher profit margins.”
According to Martinez, READYUpstream was designed specifically for the needs of oil and gas exploration and production firms. “The solution provides a uniform platform across the entire enterprise that streamlines the business processes and provides higher levels of process standardisation. It is being deployed by Capgemini at large and independent oil and gas companies,” he added.
Martinez noted that the solution will serve all areas of upstream oil and gas accounting, including field lease data and production integration, production volume management, revenue accounting, division order, tax and regulatory reporting, financial accounting, joint venture accounting, authorisation for expenditures, asset management, operations cost accounting and reporting.
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