Industry Type: Oil and Gas | CAPEX and Budgeting Solution for a Large Oil and Gas Company
A leading Oil and Gas company in the Middle East playing lead role in the economic development as the sole supplier of the vital fuel that powers the country’s economy.
The Problem
The Solution
Implementation of a centralized budgeting solution along with CAPEX based on Hyperion Suite of EPM products that would stream line the 1200+ excel worksheets.
Key Benefits:
A leading Oil and Gas company in the Middle East playing lead role in the economic development as the sole supplier of the vital fuel that powers the country’s economy.
The Problem
- Excel driven process of long range forecasting, sensitivity analysis and scenario modelling.
- The Company uses a complex set of Excel sheets to collect, forecast and consolidate this data manually. Multiple versions of sheets were shared across various managers across the organization who were submitting information.
- The initial budget is prepared by one set of users and shared with other group of users for long range forecasting and sensitivity analysis.
- There was no standard process for merger/acquisition analysis, business valuations, investment appraisal, and impact of business restructuring.
The Solution
Implementation of a centralized budgeting solution along with CAPEX based on Hyperion Suite of EPM products that would stream line the 1200+ excel worksheets.
Key Benefits:
- Reduced 30 days of manual MS Excel compilation to 2 days of automated process
- Improvement in budgeting accuracy
- Enhanced their ability to perform Scenario Analysis (particularly with regards to exchange rates and fuel curves)
- Made more time available for 10 Finance employees to focus on Analysis than MS Excel compilation
- Capital and Operational Expenditure Planning and Budgeting, Production Planning and Scheduling based on capacity utilization of refinery, Revenue planning and Budgeting based on product quantity and price.