WellPoint Energy Financial Management for Oil & Gas Industry

Welcome to an overview of Energy Financial Management by WellPoint Systems. In this brief presentation, you will begin to understand why more oil and gas companies are choosing Energy Financial Management, known as EFM, to help them run their companies. When speaking with WellPoint's more than 400 clients, we often hear that business as usual isn't. Our customers, just like you, are expected to make decisions quickly, based on fact, not speculation. We live in a Blackberry and iPhone world, and we want instant access to the information we need to make those critical business decisions. One of the central underlying capabilities of WellPoint Systems is access to relevant data, so you can manage your business. I'm going to show you how Energy Financial Management by WellPoint Systems brings you the information you need, when you need it. Data is not siloed. It is completely integrated, giving you access to all the information you need to run your oil and gas business better. EFM is powered by Dynamics AX, Microsoft's flagship ERP system, with over 13,000 worldwide installations and a proven track record of success. Microsoft's Dynamics AX provides EFM with Human Resource Management, Workflow, CRM, Procurement, Inventory Management, Fixed Assets, Web Portal Access, and so much more. The integration of these solutions enables your company to streamline your business processes and readily meet your IFRS and SOX requirements via continuous audit controls. Managing capital budgets is critical to every oil and gas company, but all too often, setting up AFVs is a manual, time-consuming process. Let me show you how easy it is to use the EFM Workflow tool to route and approve AFVs, resolve issues in a timely manner, and improve accuracy. Let's begin by creating the AFV and submitting it into the workflow for approval. The AFV immediately gets routed through the organization, and alerts are automatically sent out via email that the AFV is ready for your review and approval. During your review, EFM identifies a missing line item budget amount based on your initial AFV parameters. You can immediately fix the oversight, add comments about the change, and approve the AFV. With this workflow functionality, issues are resolved immediately upon discovery, and you can have more confidence than ever that the capital budgets within your system are accurate. At any point during the approval process, you are able to check the status to see the last action taken and any relevant comments. Now that we have fixed our budget amount and approved the AFV in minutes versus hours, coding transactions to this project can begin. Integrated workflow is a powerful tool within EFM that allows the system to mirror the operational flow of your business so you can get accurate information faster than ever. You can configure similar workflows for any of your business processes, including AP invoice approval or division of interest ownership changes. Speaking of division of interest, let's look at how EFM simplifies DOI maintenance, which is often a complicated process that is difficult to manage. At Will Point, we are oil and gas professionals by background and understand that in this business there is an exception for every rule. That is why we allow you to set up exceptions within the DOI for any charges that need to be billed out differently than the base ownership. This means you configure it once during setup and then don't have to think about those exceptions again when encoding AP transactions and processing JVB. Once the DOI is set up, it's important to note that EFM allows for flexible event alert notifications throughout the system, so emails can be automatically distributed to anyone in the organization, informing them that the DOI is ready. Alerts can also be configured for any number of user-defined tolerances or variances. Now you are managing your business by exception and letting the system work for you so you can spend your time making critical business decisions. Imagine the possibilities! Here's another example of quick, easy access to data within EFM. Let's look at cost centers to see all the transactions associated with a particular well. Clicking on the transactional drill-down button pulls up a detailed listing of all the financial entries coded to that well. Just like in Excel, you can easily filter through the data and manipulate columns with a simple click of a button. Now let's drill down even further to the original source voucher entry. From here you can launch document handling to see any backup notes or attachments associated with this journal entry. We just drilled down from the cost center, through the transactions, into the original voucher, and reviewed the relevant notes and attachments stored within the system in a matter of seconds. Now that's information at the point of action. Everything we just looked at from workflow routing and approval to transactional drill-downs to alerts and a whole lot more can be displayed on your customizable homepage called a role center. This homepage is your command center for reports, tasks, events, and so on, making your job easier. EFM is more than just a software. It's a total solution that encompasses both software and support services. Many of our staff have worked in jobs just like yours, so they have first-hand knowledge of the important software can play in your daily role, and also how important good service is to your success and ours. When you buy from WellPoint Systems, we are your partner, from point of sale to implementation to ongoing customer support and service. With EFM, you are well positioned as your business needs change and you continue to grow. You can get up and running quickly on EFM to handle your mission-critical oil and gas accounting needs, and then bring on additional Dynamics AX applications to improve processes and save time. What used to take days, with EFM, can now be streamlined into hours, so at the end of the day, you are enjoying the end of the day. Thank you for taking the time to view this brief overview of Energy Financial Management by WellPoint Systems. Visit our website at www.wellpointsystems.com to find out more about why customers choose EFM.