Solutions - Well - Cost Control

Solution Description

Through the use of Document Management and Workflow technologies, organizations can drive AFE's from creation through to final approval. Once active, should the scope or budget change, the AFE can be revised or a Supplement created. The monthly Accrual process is vastly simplified by enabling each AFE manager to update their AFE's regularly (as the system will provide all actual and 'in process' spend information automatically). The AFE manager simply reviews their report and determines whether additional monies need to be accrued against the AFE. The solution allows for full reporting (from both an Executive and operations level) and provides a complete audit trail history of all interaction with the AFE and Accrual information. A natural integration exists for the Well - Cost Control Solution to be integrated with both Imagine's Accounts Payable Invoice processing solution, as well as the Well - Project Control Solution.

Issues Addressed

• Delays in creating, circulating and approving an AFE
• Complexity in tracking all AFE's (by project, by manager etc.)
• Difficulty executing and enforcing proper Accrual processes
• Operations people don't like pushing paper!
• Difficulty in enforcing proper approval processes
• Communication difficulties, inconsistencies and timeliness with partners
• Proper document management and audit trails

Business Value

• Drastically reduce the time to process an AFE
• Drive Supplements and Revisions based on business rules
• Address any bottlenecks and non-compliant stages in the approval process
• Enforce approval limits and processes
• Automate the storage and retrieval of documents without changing how staff work
• Improve the timeliness and accuracy of the Accrual process
• Establish auditable internal processes for visibility, control and accountability
• Cross reference AFE and Accrual documents with other related documentation
• Reduced costs related to administrating AFE's
• Provide managerial insight into actual AFE, project and business unit spending
• Interact efficiently with partners on joint project AFE's

Solution Components

• Kofax Ascent Capture
• OnBase Enterprise Content Management
• OnBase Integration Modules
• OnBase Workflow
• Fujitsu Scanners
• Imagine Professional Services Team
• Imagine Well - Cost Control Solution

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