Client Success Story

Major Oil and Gas Producer Unlocks Unprecedented Efficiency with Dynamics 365 and EnergyCONNECT™ IP Solution

Industry: Energy

Solution: Microsoft Dynamics 365 + MCA Connect’s EnergyCONNECT™

Introduction

One of North America’s oldest and largest upstream oil and gas producers boasts an impressive portfolio of oil, condensate, natural gas, and natural gas liquids assets. But to ensure future success, the company needed to modernize its systems and processes.

Challenge

The oil and gas producer aimed to increase efficiency and reduce costs by leveraging modern technology. However, an outdated ERP system and arduous month-end accounting process undermined this goal and threatened compliance with industry regulations.

Inefficient and costly system

The company struggled with a 20-year-old, highly customized ERP system that required a team of 20 people to support. With over 100 integrations and bolt-on tools, maintenance was costly and difficult.

Scattered data

The oil and gas producer couldn’t access accurate, on-demand insights because it stored data across multiple databases. This fragmented system meant that when someone updated the data in one place, it didn’t automatically appear in other reports. This lack of synchronization led to inconsistencies in data, complicating the decision-making process as teams couldn’t rely on the accuracy of available information.

Slow and complex month-end processes

One of the most significant challenges was month-end accounting reconciliations and reporting. To meet mandated deadlines, the company must complete reporting at the end of each month. However, even with analysts working round the clock, this process took five days, requiring the company to start on the 25th of each month. As a result, the team missed critical financial data and had to manually amend numbers for the last five days of the previous month.

Solution

To ensure future success, the oil and gas producer needed to modernize its systems and processes. They ultimately decided to implement Microsoft Dynamics 365 Finance and Supply Chain Management alongside MCA Connect’s EnergyCONNECT™ IP solution for expense and account management.

Built on Dynamics 365, EnergyCONNECT™ simplifies joint venture accounting for oil and gas companies by managing divisions of interest and tracking financials for each owner. EnergyCONNECT™ also streamlines cost control for oil and gas companies by ensuring clear communication and pre-drilling expense approvals, plus large order spend management.

With hundreds of extensions, integrations, and support options, EnergyCONNECT™ ensures companies keep all of the oil and gas functionality they need to succeed.

Collaborating for success

To optimize their Calgary operations, the oil and gas producer partnered with Avanade and MCA Connect. Avanade implemented the robust Dynamics 365 platform, while MCA Connect leveraged its oil and gas expertise with EnergyCONNECT™. This collaborative approach ensured a successful solution tailored to the oil and gas producer’s needs.

Results

The joint solution went live in less than nine months, exceeding time and budget expectations. As a result, the company:

Cut costs and boosted efficiency
By implementing Dynamics 365 and EnergyCONNECT™, the oil and gas producer has not only streamlined its technology stack but has also significantly reduced operational complexity. This move towards a more integrated system has led to increased efficiency across the board, with the company projecting a 30% reduction in ERP costs.
Improved decision-making
With Dynamics 365, the company eliminated thousands of unused data assets from its legacy system and streamlined hundreds of reports. This strategic streamlining not only decluttered the company’s data environment but also enabled its teams to make more informed decisions swiftly and effectively.
Reduced errors and slashed month-end processing time
The company now completes month-end processes on the last day of the month, with all reporting data up to date and no need for manual amendments. They also streamlined the Chart of Accounts from 9,000 to 1,000, reducing duplication and redundancies in monthly reports and shortening month-end processing from five days to a few hours.

“Moving to Dynamics 365 has opened so many possibilities. We’re now able to pivot quickly as our business and industry evolves and teams continue to streamline and automate processes—saving them time every day.”

– Project Stakeholder

What’s next?

Dynamics 365 and EnergyCONNECT™ solved the oil and gas producer’s core challenge of month-end accounting, unlocking unprecedented efficiency and accuracy. The company now plans to leverage these improvements to achieve even greater success in the oil and gas industry.

About MCA Connect

Through passion and deep industry expertise, MCA Connect® helps companies succeed by unlocking innovation with actionable business insights. Our strategic solution and industry intelligence help manufacturers gain visibility, improve profitability, and achieve a competitive edge. Contact us today to learn how we can help solve your biggest industry challenges.