READYUpstream Solution

Upstream Oil & Gas companies are in a great position to exploit the benefits of SAP due to the growth opportunities that are common in the high risk capital intensive environment in which they operate. Companies are looking for alternatives to streamline the business process and become more efficient to increase their speed to market as they evaluate acquisitions and new business ventures. Currently, there is not a good alternative for the small and middle size company to gain access to first class software. Consequently, companies are left with the option of exploring systems that lack the level of integration and business process controls that come with SAP.

Large investments made by companies in this space require business integration and immediate access to information in order to be successful. It is imperative for small and middle Oil & Gas companies to equip themselves with the technology and systems that will allow them to quickly capitalize on opportunities before they are taken by major Oil & Gas companies. Access to key information such as pricing, prospects, production performance, and operating income are critical to sustain growth and profitability.

READYUpstream is the alternative for the Upstream Oil & Gas Company looking to streamline business processes, increase efficiency, and achieve a rapid return on investment. Because READYUpstream is based on the highly scalable and powerful mySAP Business Suite solutions, it can grow with your business, protecting your investment for the future.

AN OIL & GAS INDUSTRY SPECIFIC SOLUTION FOR THE GROWING EXPLORATION AND PRODUCTION COMPANY.

Configured for the Independent Exploration & Production Oil & Gas Company

Independent Exploration and Production (E&P) Companies have the same breadth of software needs as large, complex SAP users, but not always the same volume. Thus, they may not want to feel obligated to embark on a large SAP implementation project using a traditional implementation approach. In addition, it is difficult for smaller companies to obtain the necessary internal and external resources that are often required during SAP implementations at larger companies.

The lack of an approach that is more suitable to the resource constraints of the Independent E&P Company affects their ability to exploit the benefits that SAP could bring to their organizations. E&P companies are generally aggressive and are have growth at the top of their agendas. SAP is best suited for these companies to take advantage of the technology and business process improvements that lead to a path of sustained growth.

Without a suitable implementation approach, the company is then faced with the following alternatives:

  • Explore other systems that lack the level of integration and business process controls that come with SAP.
  • Struggle to maintain disparate databases, systems and processes and risk their ability to quickly react to market opportunities.
  • Settle for another solution because SAP appears to be too big of a task to undertake.

The READYUpstream All-In-One solution is the alternative for the Independent E&P Company. Our templates are built from industry best practices and knowledge collected from our experience in the implementation of the SAP Upstream solution at many large and small Oil & Gas companies.

Our solution provides the company with the following immediate benefits:

  • A pre-configured solution built on industry best practices that can quickly be utilized to jump start the implementation effort.
  • Significant reduction in the amount of time and resources required to implement the READYUpstream solution. Through the use of our pre-configured solution and blueprint template our consultants are able to quickly customize a solution that meets your business needs.
  • A proven solution that can be utilized without having to start from “scratch”. This is a significant advantage as you will be able to leverage the industry templates which significantly reduce the time it takes to implement SAP.
  • Access to best-in-class process models, industry practices, and a ready to implement solution that results in immediate benefits to your implementation of SAP and business process improvement.

Complete Oil & Gas Solution

The components available as part of the baseline of the pre-configured READYUpstream solution provide your company the ability to quickly start using the SAP Upstream module. The components included in the baseline are:

  • SAP PRA (Production Revenue Accounting) Production Allocations - Configuration and master file set up of entities and processes required to record production volumes. This component includes production volume allocations, regulatory reporting and partner reporting.
     
  • SAP PRA Revenue Accounting – This module provides all of the functionality necessary to book revenue, process owner disbursements, and record sales and expenses. Master file and configuration for the processing of the following areas: Contractual Allocations, Cash Receipts, Valuation, Revenue Distribution, Contracts, Division Order, and Tax/Royally Reporting.
     
  • Financial Accounting and Controlling – This module provides the general ledger functionality for the processing of Accounts Payable, Accounts Receivable, Customer/Vendors, Payment Processing, and Financial Reporting.
     
  • Joint Venture Accounting - Joint Venture Accounting (JVA) provides the ability to track spending on shared assets (e.g. wells and facilities) and bill outside parties for their share of the amount. As a part of month-end processing, the charges are cutback and AR entries are created.
     
  • Project Systems - The Project Systems (PS) module is used to track actual and forecast data in a flexible hierarchy that can mirror the operational structure of business efforts. This functionality is typically used to track AFE (approved for expenditure) costs in the upstream industry. A typical project is established to maintain an overall budget. A good example would be the drilling forecast for a region.
     
  • Asset Accounting - Asset accounting is a subsidiary ledger of the general ledger and is used to manage and document in detail fixed asset transactions. In general ledger accounting, it is possible to update depreciation and changes to asset balance sheet values in asset accounting. It is also possible also make various account assignments to cost accounting for these transactions.

Proven Value – Within Your Budget and Timeline

Only READYUpstream can bring the power of SAP’s robust integrated platform combined with extensive Upstream Oil & Gas functionality to you in an affordable fixed price and timeline. This allows your organization to quickly embrace the value of SAP without consuming excessive resources, time and budget dollars. Best of all, you gain immediate access to investments made by SAP and others in the Industry in creating the only solution that is truly integrated and scalable for growth in the Industry.

An integrated solution to achieve your strategic objectives

READYUpstream provides your company a completely integrated database where all areas of the business are consolidated. This eliminates the issues encountered with disparate processes, data redundancy, and poor consolidated reporting for key decision making.

In order to manage your growth you need a solution that improves your business process by allowing you to react quickly to market opportunities, gain quick access to information and reduce the cost and effort involved in growing your business. As your business grows through acquisitions and new exploration opportunities you need to have systems in place that can handle the growth without hindering operational performance. The state of the art database structure and system architecture of the READYUpstream solution is best in class and is built around a framework suitable for sustained growth.

READYUpstream will allow to quickly implement strategies such as:

  • Creating an environment for your company to become more agile and ready to react to market opportunities.
  • Enhancing your ability to quickly capitalize on acquisitions.
  • Building a scalable platform for growth.
  • Reducing the overall cost of operations through efficient processes, integration and lower infrastructure cost.
  • Allowing you to better manage profitability and performance through sophisticated operational and executive reporting, with access to information from a single integrated database source (volumes, pricing, and revenue information).

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