IDEAS Financial Management boasts a flexible architecture and powerful reporting capabilities, making it an ideal solution for global and domestic oil and gas operations. Capable of multi-currency, multilingual, multi-entity, globally compliant accounting, Financial Management supports operational expansion into regions newly recognized as viable for exploration.
Tracking the financial history of the company is job one. IDEAS imports financial information from spreadsheets with full validation and retains all historical data, denominated in any number of currencies, for comparative reporting.
Establish any number of operating, revenue, production and statistical budgets denominated in any number of currencies. With extensive budget visibility, your team can better manage their activities and expenditures.
Define allocation rules to allocate cost among AFEs, cost centers, cost objects and companies. In addition to allocation control you can group these rules into sets for multi-step allocations.
IDEAS includes features enabling you to use daily, average, and monthly exchange rates or spot rates for currency conversion.
The capital you invest in tangible assets needs to work for you through amortization, depreciation and to get each job done. IDEAS Financial Accounting helps you get the most return on those investments, and will import any number of transactions in any currency as the cost basis of an asset.
Full integration to your ERP system allows you to trace every transaction to its source document, which is critical to managing the business and audits.
Commitments are an intrinsic part of your expenditure planning and budgetary control processes. IDEAS Financial Accounting helps you understand your committed costs in addition to your expended costs.
Prepare accurate, automated reconciliations and reconciliation work papers.
Security is top of mind for CFOs in every industry.
Financial Management security controls offer the flexibility to authorize varying levels of data access, within your company and among joint venture partners.
You can add features and security by location level to lower total cost of ownership.