Oil and Gas, Upstream
North America based Oil and Gas Exploration and Drilling Corporation
Market Capital :
US $14 Billion
Oil and Gas
Financials transformations for faster closing and create a framework for CapEx at individual property level
Problem Statement :
Longer financial closing due to manual intensive work and not able to attribute the capital expenditures to individual property level.
Studied the As Is financial processes, identified the areas for process improvements, implemented the processes improvements by working closely with business which resulted in faster financial closures. Capital Expenditure processes were analyzed, process improvements were implemented in the source, cost objects that are needed for property level Capital Expenditures are identified and assigned to the appropriate processes. A framework was created which provided the client with CapEx at the individual property level.