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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For further information contact:
Barbara Graff at (713) 868-5537
For media inquiries contact:
Susan Wright at (713) 868-5537
