Six Benefits of Workflow Automation in Upstream Oil & Gas Accounting

12/19/2018
Six Benefits of Workflow Automation in Upstream Oil & Gas Accounting

In upstream oil and gas accounting, the pursuit of efficiency is never ending. Manual processes lead to wasted time, forgotten actions, and miscommunication. With an automated workflow, however, your accounting department can streamline many processes and all but eliminate time challenges.

Join us as we discuss six benefits of using automation that allow accountants to accomplish more in less time and provide them the freedom to focus on important tasks.

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Is your back office tied up in tasks that take away from their core responsibilities? Are they spending hours sifting through spreadsheets in search of information only to find errors in data? Leave those days behind with an automated process from P2 Workflow.

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Unlock the Value of Accounting Data with Oil & Gas Business Intelligence

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Are you working in an upstream oil and gas accounting department that relies heavily on spreadsheets for your reporting needs? Do you find the manual processes that bring together data from different sources time consuming and error prone?

Maybe you’re relying on other people to build reports which means more time going back and forth to ensure the correct data is included in each report. Or, maybe you’re using a generic business intelligence (BI) tool with loads of features, but not the content or context you need.

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How Manual Processes & Workarounds Are Costing You Money

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We all know the saying, time is money. What manual processes and workarounds are you currently using at your upstream oil and gas organization that are costing you time, therefore money? Are you even aware of them?

In this article we’ll go through a couple examples of manual processes that might be costing you time and money, and how they can be solved with an automated workflow.

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4 Must-Haves for Oil & Gas Accountants

10/23/2018
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Crescent Point Energy U.S. Corp., a Leader in the Uinta and Bakken, Goes Live on P2 Merrick

08/29/2016

Team anticipates efficiency improvements from the field all the way through to the reporting process

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As Price of Oil Hits 6-Year Low, Here Are 6 Oil and Gas Blogs That Can Help

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Blogs contain industry best practices for teams across the E&P enterprise

It was recently reported that, thanks in large part to the devaluation of the Chinese yuan and swelling stockpiles, the price of oil has slipped to a new six-year low.

What a difference one year can make. Last August, the price of West Texas Intermediate, the benchmark U.S. crude, averaged $96.54 a barrel over the course of the month, according to the U.S. Energy Information Administration.

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5-Step Process for Ensuring That Your Purchasers Are Paying You Correctly

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Why upstream companies should record their revenue transactions from the contract detail and their production volumes

How do I know that I'm being paid correctly for what I've produced and sold?

In my 30-plus years in upstream oil and gas, I can’t tell you how many times I’ve heard that question.

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Oil & Gas Invoicing: How to Make It a Time- and Money-Friendly Process

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Thirty percent? Thirty-five? Forty? Fifty?

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Lowering operating expenses is a quick ticket to free cash flow for upstream firms

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