Oil and Gas for Microsoft Dynamics AX
By integrating project management, budgets, and costs with your corporate financials from initial drilling through to production, you can more effectively invoice and pay your partners, manage your cost centers, control expenditures, and drive efficiency into your business processes. With Oil and Gas for Microsoft Dynamics AX you can efficiently keep your costs under control by monitoring them by cost center, Division of Interest, or Authorization for Expenditure.
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Manage your cost centers
With comprehensive project-based functionality, Microsoft Dynamics AX will manage your cost centers and properties from drilling through to production. All activities and costs will be integrated into the financials for the individual cost centers with the ability to build hierarchies to group cost centers for reporting purposes. Overhead management capabilities allow you to automatically generate overhead charges to cost centers based on fixed or variable rules. This functionality gives management the unprecedented ability to easily manage the entire project's financials from a single application.
Create flexible, date-effective Divisions of Interest (DOI) and Joint Venture (JV) billing with account-based exceptions
Oil and Gas for Microsoft Dynamics AX adds tremendous flexibility to the task of creating Divisions of Interest (DOI). By providing the ability to establish flexible, date-effective DOIs and the capability to support account-based exceptions on the same screen, Microsoft Dynamics AX improves the efficiency and accuracy of your operational teams. By automating the distribution and billing processes for joint venture transactions, managers have the flexibility to establish and enforce the rules associated with the billing as dictated by your unique business policies.
Control costs with multi-revision Authorization for Expenditure (AFE) management
Set up and control capital expenditures by measuring actual against budgeted costs on both a gross and net basis. Manage cash flows using cash call functionality and overruns using supplemental/multi-revision capabilities at the Authorization for Expenditure (AFE) level. Built-in approval functionality allows control and visibility at both the internal and partner level. Manage approvals in the system using alert and workflow capabilities. AFE budgets can be integrated with corporate budgets to allow companies to view overall finances and reporting.
Quickly analyze gross and net transactions
Oil and Gas for Microsoft Dynamics AX allows you to easily drill down on gross or net costs and profitability by cost center, DOI, or AFE. This functionality enables your people to make fast and accurate fact-based decisions based on actual costs and budgets set up within the individual AFEs.
Utilize oil and gas industry reporting standards
Your people can set up powerful custom reports to support your business processes or utilize the oil and gas reporting functionality already built into the system.
Integrate with other mission-critical applications
Oil and Gas for Microsoft Dynamics AX promotes seamless and easy integration to other systems that complement the process of financial management. This is achieved by offering unparalleled support for integration to traditional applications such as production revenue accounting, payroll and land applications, and in-house developed solutions. By simplifying the integration process you can significantly reduce the costs associated with both the creation and maintenance of these critical interfaces.
Features overview
Fast and accurate billing and revenue sharing | Distribute actual costs and profitability with partners by cost center. Utilize actual financials to automatically bill or pay partners. |
Transparent expenditure management | Quickly develop Authorizations for Expenditures (AFEs) based on cost center planning. Allow management and partners to monitor and authorize expenditures based on your business processes and rules. |
Understand where all of your costs are | Drill down into gross and net costs by cost center, Division of Interest (DOI), or AFE. This allows your people to make more accurate fact-based decisions. |
Total life cycle management | By integrating your project management timelines and costs with the corporation's financials you can more easily tie all expenditures into the project before production begins and then efficiently manage production. |
Utilize your business processes | Implement your business processes by leveraging a system built for oil and gas companies without re-architecting or adding custom code to your financial application. |
Next steps
Request more information about how Microsoft Dynamics AX can meet your organization's needs.
Note
Note that industry-builder solutions will become available for different industries and different regions over time, and some may not be available in all regions. If you have questions about solutions for a specific industry and region, please contact us.
