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CGI and WellFound Launch BPI Solution at TIBCO Energy Conference
The Launch
CGI and WellFound Technology have developed an event-driven business process
integration solution. The technology automates key operational and financial
functions for exploration and production, allowing real time or near real
time business process management. The technology leverages Enterprise
Application Integration (EAI) by combining functions that must otherwise
be acquired piecemeal or left unautomated. The solution was introduced
at the April TIBCO Energy Conference in Houston. CGI’s subject matter
expertise in upstream energy exploration and production was combined with
WellFound’s extensive experience with the event-driven Business Process
Management (BPM) product. The solution was developed with the TIBCO platform
and WellFound’s business intelligence decision support tool. The
Houston demonstration highlighted the Authorization For Expenditure (AFE)
process as well as service company interfaces and other B2B aspects of
upstream operations.
Challenge and Solution
Seismic activities are frequently prone to multi-million-dollar over-runs
because high expenditures are incurred faster than management can track
them against budgeted or projected expenditures. In addition, exploration
and production decision-making can be challenged by such factors as lags
in supplier invoicing and failure to capture operating conditions that
affect cost and time. Incorrect assumptions can undermine planning and
financial performance.
The AFE-triggered module minimizes lag-time in handoffs between the drilling
manager and service companies as the project progresses from selection
of service companies through billing entries, automatic notifications
to field managers, verifications and automatic notices to accounting for
approval and notification to the A/P system. As a result, the organization
can monitor service costs near real-time and service companies can invoice
faster. The event-driven performance analysis shows real-time accrued
costs (internal and external) for each well, enables cost comparisons
by well or region, tracks service costs per well and measures process,
employee and supplier performance.
About CGI
Founded in 1976, CGI is the fourth largest independent information technology
services firm in North America, based on its headcount of more than 13,000
professionals. CGI’s annualized revenue run-rate totals $1.3 billion.
CGI’s order backlog currently totals $5.75 billion. CGI provides
end-to-end IT services and business solutions to more than 3,000 clients
in countries such as the United States, Canada, the United Kingdom and
France from more than 60 offices. CGI’s shares are listed on the
NYSE (GIB) and the TSE (GIB.A). Website: www.cgiusa.com.
About WellFound Technology, Inc.
WellFound Technology is a leading IT consulting firm that specializes
in Business Process Management (BPM) and Enterprise Application Integration
(EAI) solutions. Their full service approach optimizes business performance
through the total integration of processes, partnerships and people, and
helps companies leverage their existing data and applications to enhance
operational efficiency, improve competitive positioning, and enable real-time
response to changes in the marketplace. Website: www.wellfound.com.
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