TouchstoneEnergy assists IOG in streamlining finance & procurement processes

IOG are a gas production company who are developing a substantial gas project in the UK sector of the Southern North Sea. After final investment decision was taken on the project, it became necessary to upgrade their systems to deliver increased visibility of committed expenditure, but also introduce electronic approvals and enhanced financial controls.

IOG were looking for a solution that would complement and easily integrate with their existing Infor SunSystems accounting software which also avoided a heavy burden on their internal IT and infrastructure.

TouchstoneEnergy’s recommendation was to upgrade SunSystems to the latest version and implement a Purchase to pay solution. The Purchasing solution would give IOG a user-friendly web-based application to support its purchasing processes for both capital and overhead goods and services, with dynamic and real-time integration with SunSystems. The implementation also includes B4B for electronic payment automation and an automated Joint Venture cutback process using enhanced SunSystems functionality. Advanced Reporting is provided by TouchstoneEnergy’s ETL Agile module. The newly integrated solution provides streamlined and efficient processes for the Finance department as well as Contracts and Procurement.

After significant evaluation, IOG chose to partner with TouchstoneEnergy because of their experience and expertise with delivering similar systems and projects for other energy industry clients. The solution was also complemented by our robust cloud hosting platform, TouchstoneCloud.

TouchstoneCloud is a specialised CloudSuite solution for oil and gas, power generation, renewables, mining and downstream companies.

TouchstoneCloud provides IOG with a cost-effective, flexible and secure alternative to traditional in-house managed software deployment. It also enables IOG to benefit from ongoing 24/7 support enabling users’ with system access from anywhere in the world.

Peter Davis, Business Unit Head at TouchstoneEnergy, commented:

We are delighted to have worked with the team at IOG, who demonstrated serious commitment to this project. We believe this can be part of a long-term partnership as IOG invests for future growth to help meet the energy demands of the UK.

Rupert Newall, Chief Financial Officer at IOG, commented:

“We are pleased to have recently completed the implementation of Infor SunSystems and Proactis, both deployed into the TouchstoneCloud environment. This was successfully achieved by the target go live date and within budget. We’re grateful to the professional service from TouchstoneEnergy, who have also provided post-implementation support, and we look forward to working with them in the future.”

About TouchstoneEnergy

TouchstoneEnergy are leading providers of world-class business software and services. We are dedicated to the Energy sector with solutions for every role in the enterprise, from Finance and Accounting to Procurement, Inventory and Asset Management, Business Intelligence, Financial Planning and Business Performance Management.

About IOG:

IOG is a UK based energy company focused on becoming a material gas developer and producer into the UK energy market from their 50% owned and operated, low-risk offshore portfolio. Their gas is transported through co-owned infrastructure, to deliver significant cost savings and maximise shareholder returns.

www.touchstoneenergy.co.uk | www.touchstoneenergyusa.com