Streamline financial and joint venture accounting, and enhance reporting
FAS equips financial and joint venture accountants to rapidly and accurately administer oil and gas financial operations and regulatory reporting for companies who own oil and gas properties, joint ventures and trusts across North America. With FAS, part of CGI’s Exploration2Revenue (X2R) software platform, accountants are freed from time-consuming, error-prone manual reporting allowing them to focus on high value analysis and timely compliance.
FAS enables analysis, streamlines administration
Bringing accounting data to the forefront allows accountants to focus more time and energy on analysis. CGI’s FAS solution provides faster, easier access to important information to increase the efficiency of accounting personnel.
- Streamlined financial accounting: Provides accountants with the tools to input and analyze financial transactions efficiently and accurately. Automates processes like check runs and joint venture billings.b
- Automated compliance reporting Efficiently produces timely reporting for various internal and external compliance purposes.
- Immediate calculation of cost/revenue splits: Provides real-time visibility into revenues, royalties and costs from joint ventures with revenue and cost allocations and ownership distributions.
- Real-time insight on financial performance: Gain immediate access to net financial data for analysis without waiting for month end processes to be completed.
- Simple to learn and easy to use: Intuitive user-interface and workflow improves productivity and accuracy of accounting team.
FAS provides time saving tools for accountants to administer oil and gas financial and operations data, as well as joint venture accounting of oil and gas and trust organizations, all while safeguarding accuracy.
- Dashboards provide ongoing visibility into financial and operational performance and pinpoint issues for attention.
- Ease of accurate analysis. Intuitive workflow and data integration with production accounting and land systems streamlines analysis and ensures accuracy.
- Immediate cost & revenue splits with allocations from gas plants to wells made at time the transactions are posted.
- Immediate joint venture splits with owner allocations determined when transactions are posted - no more waiting for joint interest billing (JIB) reports at month end.
- Easy to use query / flexible reporting provides the industry’s most efficient self-service data reporting and export to Excel for further independent analysis.
- Standardized regulatory reporting provides data extracts required for government regulators, partners, and audit purposes.
Integrated X2R solution
FAS is one of the solutions on CGI’s integrated Exploration2Revenue platform designed to help energy businesses across North America with managing their upstream back office with greater cost efficiency, insight, and agility.
Download the FAS fact sheet.