Your Trusted, Behind-the-Scenes Industry Partner, Advocate12/09/2019
When you’ve made the decision to outsource work – whether it’s regulatory reporting, revenue, joint interest accounting, or AP – you want to ensure the work is not just getting done and getting done right, but that you’ve secured a partner who’s truly invested in your company and its success. Any business process outsourcing firm should be committed to making customers know they are simply an extension of the organization’s team – that they’re as focused on goals and outcomes as full-time staff.
Getting to Know You
Before customers become customers, outsourcing teams go above and beyond their due diligence to truly understand what it is a company needs. The vetting – or getting to know you – process is something that is taken seriously. Honing in on needs and requirements, timing, scope of implementation, and other aspects that build trust are critical to this process.
The P2 Business Process Outsourcing (BPO) team works hard to establish this trust, which forms the basis of our partnerships.
In It Together
We believe it’s critical that every BPO customer has a dedicated account lead. This is the person with whom you have the conversation:
- P2: "When do you have to get your financials to the bank?"
- Customer: "End of the month."
- P2: “Great. If you need your financials by the 25th, we close revenue on the 20th, we close JIB on the 15th, and ensure your AP is closed down as well.”
- P2: “If you have any questions during end-of-month close, you call me directly.”
In addition to account leads, we assign revenue accountants, JIB accountants, AP accountants, and financial accountants to each customer. Full customer “coverage” that’s specialized is important to us, and that includes numerous touch points throughout the entire process. Weekly, bi-weekly, or monthly meetings – either in person or virtually – allow us to maintain a steady stream of dialogue, and we treat these just like we do our own internal staff meetings. We cover things like challenges, issues, and upcoming deadlines; each one is truly a “meeting of the minds” where problem solving meets strategic thinking.
The Goldilocks Pricing Model
P2’s BPO services are neither too expensive nor too cheap. They’re just about right. And that comes from the predictable monthly cost model we created to ensure consistency in our pricing for all customers. We also price by well and increase or decrease fees accordingly when A&D impacts a business. Further, we’re able to keep our costs consistent because we’re the only provider that licenses the software we use for outsourcing. When a customer is ready to take services in house, the process is easier and more cost effective because P2 owns the software, and there is little to no conversion effort.
Outsourcing with P2 means that you remain in control of the process. In other words, we do the work, but you still call the shots. Our customers tell us how often they’d like to meet and how many approval processes they want in place; they have access to the systems we use and can view and read any documentation associated with their account.
A Bountiful Resource Pool
When you choose P2 for outsourcing, you simultaneously benefit from a rich resource pool that’s provided to all of our software customers.
- Unmatched industry experience in upstream oil and gas
- P2 services and consultants
- P2’s hosting department
- Our product management and support teams
- User group meetings and conferences
Do Your Research
Many upstream oil and gas companies that are in configuration – a new operator with no prior experience, a successful engineer with newly acquired funding, a C-level team new to the industry – need a trusted, behind-the-scenes partner to help churn the cogs, get the back-office work done, and keep the ship afloat. If you’re in this situation, do your research, and find yourself a partner – an advocate – that will help safeguard your transition and eventual success in the oil and gas industry.