Egyptian Upstream Operator Goes Live with TouchstoneEnergy’s EnergyFlow AFE Automation
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An Egyptian upstream operator aims to improve compliance and reduce overspend by as much as 100 percent by utilizing TouchstoneEnergy’s EnergyFlow AFE; which could result in an annual saving of up to US$1.5 million.
TouchstoneEnergy’s EnergyFlow provides seamless integration with Infor SunSystems which will assist further with budget control and compliance.
An approved AFE (approval for expenditure request) is automatically integrated with Infor SunSystems to create the AFE record and associated budget, enabling budget vs. actual expenditure reporting.
Integration with the Infor SunSystems budget ledgers allows unbudgeted expenditure to be quickly identified.
The core EnergyFlow AFE Automation process from TouchstoneEnergy enables the AFE to follow a defined workflow from request, completion, review and finally approval before creating the AFE budget in Infor SunSystems.
A series of email alerts are generated that alert and inform at all stages of the process, thus enabling approvers and managers to remain pro-active in their management of AFE related spend.
About TouchstoneEnergy
TouchstoneEnergy is the leading IT, finance and business systems supplier to the international energy market: oil, gas, renewable, mining and downstream trading. Its systems support in excess of $15 billion of investment in oil and gas appraisal, exploration and development. Its expertise spans accounting, procurement, business process management, supply chain management and asset management designed specifically for the oil and gas and renewables sectors. More than 3,000 users in 44 countries use real-time, multi-currency, multi-lingual solutions from TouchstoneEnergy.
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