Oracle EPM has been a centerpiece for finance and accounting teams for decades, dating back to legacy Hyperion on-premise applications, and more recently, Oracle Cloud EPM deployments. Since EPMI is Houston based, we have extensive experience implementing in the Oil & Gas industry. Here are some customer stories on how EPM has modernized finance and accounting business processes in the industry.
Based out of Oklahoma, ONEOK is one of the most reputable midstream suppliers of oil & gas products in the United States. When EPMI engaged with the ONEOK team, they were leveraging a dated Account Reconciliation Manager on-premise application that was costly to maintain and troublesome to upgrade. Given our depth of knowledge in EPM applications, our team was able to migrate customized on-premise functionality in alignment with Cloud EPM’s recommended best practices. In terms of timelines, we were able to migrate ONEOK from on-premise to cloud in an accelerated 6-week timeline.
Houston-based NCS Multistage is an industry leader in valves and drill part manufacturing specific to the Oil & Gas industry. NCS opted to deploy multiple EPM processes in conjunction with a parallel project implementation. The full project scope included Planning, Consolidation & Close, and Account Reconciliation. NCS’s EPM applications have supported the finance team through volatility in the market and economic highs and lows. Specifically, NCS leveraged Strategic Modeling within Planning to modify their Workforce scenarios to determine optimal hiring requisitions and current workforce makeup.
Similar to NCS, Nabors Inc. operates in the Oil & Gas manufacturing/supplier space with a heavy presence in Houston, TX. As a Hyperion on-premise customer, they opted to work with EPMI and Oracle Cloud EPM to upgrade their Account Reconciliation, Task Management, and Planning processes. Within an aggressive 12-week timeline, the team at EPMI was able to migrate and upgrade their Hyperion footprint to Oracle Cloud EPM. From a functional standpoint, their reporting teams are no longer dependent on the IT teams to modify and publish financial reports. By working with Cloud EPM, Nabors also offset the physical investment in hardware, servers, and middleware required to house Hyperion applications.