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Business process services
Finance and administration for the oil and gas industry
The oil and gas industry is rapidly expanding its exploration and production activities to meet growing demand. From established firms to start ups, there is a critical need for qualified accounting and finance personnel to support this expansion. Yet with a severe talent shortage, keeping good employees is equally as challenging as finding them. The industry also requires proven technologies that can be rapidly deployed to support finance and accounting business processes.
CGI helps oil and gas firms operate more efficiently and flexibly by providing a one-stop shop for upstream industry resources. We combine years of hands-on experience with deep industry and technology expertise to manage day-to-day oil and gas accounting and finance operations. Through our business process services, CGI allows clients to achieve the following benefits:
- Achieve cost savings of up to 30-40% with the economies of scale offered by CGI’s business process services centers
- Expand or contract resources as needed
- Eliminate ramp-up time
- Focus on strategic and core functions
Key services and solutions
- Full-service management of non-core accounting functions, including operational cost accounting, production and revenue accounting, general accounting, property administration and treasury. Specialized back-office services, including state/provincial and federal regulatory and severance tax reporting and partnership accounting.
- Personnel management to meet critical staffing needs andreduce turnover and attrition. All CGI personnel pass strict background checks, are bonded and insured for liability coverage, are managed in compliance with ISO 9001 and Sarbanes Oxley, and receive continuing education and annual evaluations of skills-job match.
- Executive management and assistance to facilitate reengineering efforts to consolidate processing for compliance with Sarbanes Oxley (SAS 70 Level II), including separation of duties.
- Due diligence assistance for acquisitions, including purchase price analysis and adjustments.
- Workflow document and imaging services to reduce G&A costs and to optimize asset utilization.
- CGI's Horizon financial, production, land and asset management solutions that can serve as stand-alone applications or work together as a fully integrated suite and can be integrated, hosted and managed.
- CGI’s WorkPay electronic invoice workflow solution that automates processes, reduces risks and lowers operating costs.