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EXCEED

Customer

EXCEED specialises in delivering Subsurface, Well Management, Managed Pressure Drilling, Performance Improvement and Decommissioning solutions to the global energy industry.With Well Operator status, EXCEED supports client projects across the entire well lifecycle – from concept to completion, intervention, workover, end-of-life decommissioning and repurpose.Working closely with our clients, our project teams are at the forefront of operations in some of the world’s most complex and remote environments

Summary

Folio3 successfully implemented NetSuite as XCD’s ERP system. This solution streamlines business processes, ensuring compliance with ISO standards, and transforms the Finance function into a revenue-generating area. The migration enhances financial reporting, automates consolidation, and provides live reporting through customized dashboards. XCD can now accurately track project costs, manage AFE, and offer external interfaces for client visibility.

The Challenge

Exceed faced multifaceted challenges, including issues in project profitability assessment, controls, automated workflows, Excel-based tracking, and reporting fragmentation. The need for a unified and efficient approach to procurement also posed a significant hurdle.

Solution

Financial Reporting

  • Migrate SAGE data as required
  • Ability to report profitability by Class, Company, Project and Resource

 

  • Ability to track project costs for standalone projects
  • Implement authorisation processes covering purchase orders in respect of goods and services procured and supplier payments in accordance with XCD’s Treasury management policy
Resource Management & Allocation

  • Ability to allocate resources to projects using sales orders
  • Improved reporting through use of accurate resource plans

 

  • Line of sight towards full resource planning
  • Train project managers/other personnel on proper use of authorisation processes
CRM

  • Migrate data from Microsoft CRM
  • Mirror reporting from Microsoft CRM

 

  • Train BD Executives in use of CRM to get optimal benefit

Result

The NetSuite implementation at XCD impacted all staff, particularly in timesheet and expense submission processes. The Finance, Project Managers, and XCD’s MD benefited significantly from Phase 1, transforming the Finance function into a revenue-generating entity. The overall costs, compared to the savings and revenue generated from a single standalone project, are marginal, validating the positive impact on the business case.

Ready to optimize your business with NetSuite ERP? Collaborate with Folio3 for a seamless implementation.

Folio3 is a recognized and authorized NetSuite partner specializing in SuiteSuccess, SuiteCommerce and ERP Implementation.

Similarly, it excels in the domain of integrations and customizations in NetSuite

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