WellPoint’s Energy Financial Management SolutionWellPoint’s Energy FinancialManagement is the only Microsoft The Only Fully IntegratedDynamics® AX- certified solution in Financial Solution for thethe oil and gas industry - quick to Norwegian Energy Sectordeploy, built on proven solutions, WellPoint’s Energy Financial Management solution was built onand designed for the complexity of Microsoft Dynamics AX and designed with the complex needstoday’s energy world. of oil and gas companies in the Norwegian Continental Shelf in mind, offering a single standard solution for financial management and reporting requirements specific to the Norwegian energy sector. Financial solutions from WellPoint Operational Reporting Systems offer a fresh approach to corporate financial management with a best-in-breed solution focused on industry Production License Accounting requirements for integration and flexibility. The result is an Division of Interest innovative solution capable of exceeding the financial and Joint Venture Accounting accounting requirements of the industry, including authorization for expenditure tracking, license and well controls, Authorization for Expenditure cash call management, division of interest, license budgeting, Cash Call Management working capital management and joint venture billing using OLF Multi-Location codes. Multi-Currency WellPoint’s Energy Financial Management solution comes Multi-Language preconfigured and integrated with fundamental modules of the Microsoft Dynamics AX platform, resulting in superior performance and robust application functionality. As your organization grows and requirements change, the WellPoint solution becomes the foundation from which to extend your business by enabling critical ERP functionality within Microsoft Dynamics AX. The addition of modules such as CRM, HRM and Procurement provide new solution functionality and gain immediate traction through enterprise integration. For more information about WellPoint Systems Inc., visit: www.wellpointsystems.com.
Return on InvestmentArchitected Specifically for the Norwegian Oil &Gas IndustryWhile other financial management and enterpriseresource planning systems have been created solely withtechnology directives in mind, WellPoint’s EnergyFinancial Management solution has been designed withthe needs of oil & gas companies in the NorwegianContinental Shelf at the forefront.Implement and Maintain Corporate Best PracticesThe flexible and standards-based design of the WellPoint React Quickly to Business Improvementsolution ensures that the system can be implemented as Opportunitiesa preconfigured solution, or implemented to support the The modular architecture of the WellPoint solution offersdefined business processes and best practices of your you the flexibility to add integrated applications like CRMbusiness. and Procurement to your environment when and if they are ever required for your operations.Scalable to Support the Growth of Your BusinessThe Microsoft Dynamics AX architecture upon which the Supports Critical Compliance and IFRSWellPoint solution is built can support the needs of The International Financial Reporting Standards (IFRS)growth oriented, mid-tier and even major integrated oil initiative has kicked off a new era of corporate governance.and gas companies. The goals, objectives and ambitions The WellPoint solution supports IFRS as well as theof your organization will never outgrow the unparalleled Norwegian Tax Reconciliation reporting requirementscapacity of WellPoint’s Energy Financial Management which is invaluable to executives and managers in theirsolution. quest for improved levels of compliance. WellPoint Systems Energy Financial Management COST CENTER MANAGEMENT WELL LEVEL SUB-LEDGER WITH FINANCIAL AND CODING/REPORTING OIL & GAS SPECIFIC ACCOUNTING GROSS/NET ACTIVITY PERIOD HIERARCHIES REPORTS AUTHORIZATION FOR PRODUCTION LICENSE DIVISION OF INTEREST JOINT VENTURE BILLING EXPENDITURE ACCOUNTING ESTIMATES & BUDGETS FLEXIBLE/DATE EFFECTIVE JVB REPORTING YEARLY BUDGETING AFE SUPPLEMENTS MULTIPLE REVISIONS AUTOMATION OF BILLING PARTNER REPORTING VALIDATION & CONTROLS DOI RULES MANAGEMENT CASH CALL MANAGEMENT RESOURCE ALLOCATIONS COST OVERRUN EXCEPTION EXPLORATION/DEVELOPMENT EXCEPTION-BASED SETUP OLF REPORTING MANAGEMENT ACCOUNTING REVERSE/REBOOK/ APPROVALS MANAGEMENT COST/ALLOCATIONS OPERATIONAL ACCOUNTING MASS CHANGE
Solution Functionality Division of Interest Integration The WellPoint Energy Financial Management solution WellPoint’s Energy Financial Management solution and adds tremendous flexibility to the task of creating Microsoft Dynamics AX in combination promote seamless Division of Interest (DOI). By providing the ability to and easy integration to other systems that complement establish flexible, date-effective DOIs, track license the process of financial management. The combined ownership, and the capacity to support account-based solution offers unparalleled support for the integration to exceptions on the same screen, WellPoint’s solution helps traditional applications like production tracking, payroll improve the efficiency and accuracy of your operational and reservoir management, as well as in-house teams. developed solutions. By simplifying the integration process, you can significantly reduce the costs associated Joint Venture Accounting with both the build and maintenance of these critical interfaces. As an operator, the accuracy and timeliness of the joint interest billing process is imperative. By automating the Information Exchange billing processes for joint venture transactions, companies have the flexibility to establish and enforce the WellPoint’s solution fully supports web services and billing rules as dictated by their unique business policies. provides the ability to share information in a secure The solution’s Joint Venture Accounting allows for the fashion, when and where it is deemed advantageous to most efficient methods of cash call management, working the company’s operation. The secure exchange of capital management, performing cost allocations, OLF information with employees (in both field and home level billing and ensuring timely collection of Accounts offices), customers, partners, and even e-commerce Receivable balances. applications has quickly become a fundamental requirement for oil & gas companies. Production License Accounting Multi-Location, Multi-Currency, The WellPoint Energy Financial Management solution is a Multi-Language comprehensive application for recording, tracking, distributing, managing and reporting revenue and cost Be it through organic growth or merger and acquisition associated with oil and gas production licenses in the activity, most oil & gas companies will eventually expand Norwegian Continental Shelf. The integrated module will their business scope to include international operations. streamline many of the challenges facing the industry When your business reaches this milestone phase, there such as DOI management; partner level reporting; yearly are significant solution advantages to software budgeting; resource allocations; prior period technology that supports multi-location, multi-currency adjustments; YTD and ITD tracking; and budget vs. actual and multi-language requirements. Financial solutions variance analysis. from WellPoint Systems facilitate compliance with local accounting and reporting requirements of the Authorization for Expenditure international market, while simultaneously meeting home country financial reporting standards. The fundamental need to control capital expenditures mandates that an accounting system have the ability to measure actual against budgeted costs on both a gross and net basis. WellPoint’s Energy Financial Management solution provides a superior level of control and automation through automatic updates and threshold warnings, establishing increased confidence in the resulting data.WellPoint Systems Inc.12596 W. Bayaud Ave., Suite 400 Suite 2000, 500 - 4th Ave. SWLakewood, CO USA 80228 Calgary, AB Canada T2P 2V6866.987.2238 403.444.3900303.987.2238 www.wellpointsystems.com