P2 Energy Solutions, the leading provider of business software, map data and enterprise services to the oil and gas industry, announced Plains All American Pipeline, L.P. has implemented Enterprise Upstream to handle its joint venture accounting.
Enterprise Upstream is an integrated, web-based solution that streamlines administrative processes and centralizes the management of data and information access across different business departments. Developed on the Oracle technology platform, Enterprise Upstream integrates with the Oracle E-Business Suite and can be connected to other leading ERP software solutions. The complete Enterprise Upstream Suite includes deep oil and gas functionality in the areas of business intelligence, operations accounting, volumes management and land management.
"We wanted to replace our existing joint venture accounting system with a system that was integrated with the Oracle E-Business Suite," said Al Lindseth, Senior Vice President, Technology, Process & Risk Management for Plains All American. "We were looking for increased capabilities that would streamline our accounting processes and eliminate the need to support a disparate data system."
Plains All American has implemented the Enterprise Upstream Joint Venture Accounting (JVA) module, which provides the following capabilities: allows for multiple cost centers per Division of Interest (DOI), allocates costs, manages billing processes, generates invoices and statements, and provides the data for analyzing operating costs.
"By standardizing on a single ERP software platform, Plains All American will be able to leverage efficient and standardized process built into Enterprise Upstream," said Bret Bolin, President and CEO, P2 Energy Solutions. "This will facilitate the workflows of Plains All American and improve access to decision-quality data that crosses geographic and business unit boundaries."
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