System for Collection and Consolidation of financial data

An oil and gas company located in Central Asia. It explores and develops oil and gas fields, processes them, sells, and offers other related services. The entity has more than 70,000 employees. In 2020, the company:

Client company

Case overview

Our client is a full-cycle oil and gas company. It used MS Excel to perform calculations and create business plans and needed an automated replacement that would minimize discrepancies and mistakes, and simplify the software maintenance. In 3 months, we developed a new system and trained the company’s employees on how to use it

produced more than 21.5 billion tons of oil and more than 8 billion m3 of gas

transported more than 73 billion tons of oil and more than 86 billion m3 of gas

processed more than 18 billion tons of oil

We introduced a user-friendly system that was able to automatically collect and process all the data required for accounting. The output of this processing can be transferred to the monitoring and controlling bodies in 15 different reporting forms compliant with the inspectors' requirements. The forms that need approval or are to be checked for limitations were topped-up with additional request and control parameters, restrictions highlighting and other useful features. The employees are trained to work with this system and can both use existing reports and create new ones if necessary

Solution

Benefits

The system was developed and implemented in 3 months

Data collection and reporting forms are now seamlessly synchronized through all the data processing stages

Reporting to controlling bodies has been optimized and digitalized

The operation expenditures of accounting departments decreased by 10%

The employees who can improve the process of data gathering and processing no longer need additional skills like VBA knowledge