A $1.7B oilfield services company that had grown rapidly through acquisitions engaged us to update and transform its decentralized and nonstandard accounting and finance processes. The transformation was critical to their plan to create a center of excellence (CoE) to standardize A&F processes, enable easier business integrations and support growth. We focused on the following areas as part of the initiative: procure-to-pay, order-to-cash, master data management, project accounting and employee onboarding-to-pay.
We called on our subject matter experts in oilfield services, who brought deep industry experience in both accounting and systems. They developed a detailed implementation plan to address a litany of problematic accounting practices. Their plan factored in industry-specific considerations that can add process complexity.
Our expertise in both accounting and oilfield services informed our approach and allowed us to propose industry-specific solutions. We created and led an end-to-end accounting and finance transformation initiative, which provided the foundation for the CoE. Along the way, we rooted out inefficiencies, resolved specific accounting issues and provided the infrastructure for growth.