Energy Software Solutions: EnergyCONNECT
Stay Compliant. Optimize Operations. Increase Profit.
Built on the Microsoft Dynamics 365 for Finance & Operations platform, our EnergyCONNECT solution helps exploration & production, oilfield services and midstream oil and gas companies optimize operations and increase profits through a series of modules: Joint Venture Accounting, Revenue Accounting, Oilfield Equipment Rentals and Authorization for Expenditure.
Reduce administrative overhead and optimize operations. Better manage equipment and assets. Distribute costs across multiple tickets, jobs, projects and owners. Stay in compliance with local and federal laws. Leverage predictive analytics combined with built-in workflows to reduce risk and increase productivity.
Designed specifically for oil and gas companies, EnergyCONNECT utilizes Dynamics 365 to give the oil and gas industry familiar, easy-to-use tools that enable them to work quickly and make smarter, more proactive decisions.
Tailored Energy Solutions
From energy exploration to managing midstream operations, EnergyCONNECT helps you stay compliant, optimize operations and increase profit margins.
Our EnergyCONNECT solution includes:
- Joint Venture Accounting
- Revenue Accounting
- Oilfield Equipment Rentals
- Authorization for Expenditure
Joint Venture Accounting Software: EnergyConnect
One of the complexities of the oil and gas industry is handling the accounting and communication between multiple land owners. Managing the complexity of multiple working interests requires technology to better control the Joint Interest Billing functions and various stages of operations.
By integrating project management, budgets and costs with your corporate financials from initial drilling through to production, upstream and midstream companies can more effectively invoice and pay partners, manage cost centers, control expenditures and drive efficient business processes.
EnergyCONNECT handles all aspects of JI, DOI, AFE and improved automation to core applications such as Enterprise Asset Management, Procurement and land systems. Our Joint Venture Accounting solution allows you to create flexible, date-effective divisions of interest and support account-based exceptions for joint venture transactions.
- Easily establish and enforce accounting processes based on your unique business policies
- Drill down by property or cost center
- Create and track owner communications simply and easily
- Automatically store records in Dynamics 365 for Finance & Operations
Revenue Accounting Software: EnergyCONNECT
Oil and gas requirements, specifically in the United States, make it challenging for energy companies to easily and accurately distribute revenue and deductions to various owners based on the associated division of interests. Leveraging a revenue distribution solution eases and automates this process to ensure accuracy.
EnergyCONNECT Revenue Accounting is the only oil and gas revenue distribution module that works seamlessly with Microsoft Dynamics 365. This scalable solution manages the revenue distribution process for upstream companies, including cash receipts, division of interests and owners’ interest.
From cash receipts to final settlement, our holistic Revenue Accounting solution helps to report revenue for various properties, record the ownership for the various products and deductions associated to the cost center and record the owner’s interest at a detail to support disbursements and required reporting.
- Manages revenue accounting from cash receipts to final settlement
- Only oil and gas holistic accounting solution seamlessly integrated with Dynamics 365
- Allocates and reconciles revenue to owners
- Issues payments to authorities themselves
Oilfield Equipment Rental Software: EnergyCONNECT
Asset-intensive oilfield services companies require increased management, tracking, accounting and visibility of their assets, equipment and resources to reduce costly downtime. Maximize revenue opportunities and minimize unnecessary expenses by optimizing your equipment rentals.
Better manage your oilfield services and rentals with EnergyCONNECT Oilfield Rentals. From allowing you to better negotiate rental rates to providing feedback to vendors on equipment performance, this extension of Dynamics 365 helps you control the costs associated with renting industrial oilfield equipment.
Apply income and expenses to fixed assets for a full picture of the equipment rental value. Schedule asset movements and see your rental assets by location, usage and availability. Manage daily, weekly or hourly rates as well as utilization rates.
- Prioritize service requests and job scheduling to maximize equipment utilization
- Give employees an easy way to see rental agreements, unit locations and availability
- Eliminate lost and messy paperwork by electronically tracking rig delivery tickets and movement
- Forecast revenue and costs associated with oilfield equipment rental
AFE Management Software: EnergyCONNECT
Authorization for Expenditure (AFE) management is usually a challenge for oil and gas companies. With EnergyCONNECT’s AFE Management solution, companies can setup and control capital expenditures by measuring actual against budgeted costs on both a gross and net basis.
EnergyCONNECT AFE allows you to easily manage the spending controls on purchase orders to ensure sufficient funds within the AFE before the PO is confirmed with the vendor. You can control costs and manage investor expectations by managing, communication and obtaining project budget approval before drilling begins or expenses are incurred.
Increase visibility and gain greater control over costs. Track and maintain the scope, estimate and schedule for AFE. Link one AFE to multiple cost centers. Integrate the solution with corporate budgets for an overview of finances and reporting. Automate workflows to simplify processes.
- Track supplements or revisions to AFEs with approval tolerances and audit trails
- Comprehensive reporting on budgets vs actuals
- Improve the ability to create accurate capital budget forecasts
- Provides a complete workflow structure for the AFE budget and supplement approvals
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Why MCA Connect?
MCA Connect has worked with some of the world’s largest oil and gas companies for over 20 years and has long been recognized as a leading Oil and Gas partner by Microsoft. We take pride in consistently delivering innovative solutions that save energy companies millions of dollars.
A key differentiator in working with MCA Connect to implement your modern Energy solution is our tight industry focus, but wide set of service offerings. Our deep knowledge of both the product and the oil and gas industry enables us to find hidden opportunities only made possible through things like IoT devices and industry accelerators.