About The Customer :
Our Consultants have worked with Kuwait’s biggest national oil refining company which produces approximate 917.7 thousand barrels per day of crude oil. This company have 3 Refineries in Kuwait shouldering the responsibility of oil refining and gas liquefaction
- Planning & Budgeting for the company used to be done on IBM Cognos Enterprise Planning which had few drawbacks like more time consuming process, lack of control over the process.
- Performance issues due to limited cube size.
- Separate applications for different departments which were not integrated.
Planning Budgeting model of the company was migrated from IBM Cognos Enterprise Planning to IBM Cognos TM1 10.2.2
- Keeping the Budget process as is in TM1 like in Cognos EP
- Data integration between HR , Recordbook and Financial Model
- Faster completion of budget cycle
- Automate data entry fields from source
- Real time value to analyze report on daily basis for H.R. department
- Created Daily report for HR department
- Automated the budgeting process as per current process
- Data integration within the different departments
- Faster and accurate budgeting process
- Timely delivery of reports to Parent Company
- Reduce the communication gaps between different departments
- Reduce Time and effort of IT Team as Admin activity became minimum
- Data accuracy increased with integration of data within departments
- Users can maintain different versions of data
- Single Cube to maintain all the Financial Rules
Ready to start a project?
About The Customer :
Our Consultants have worked for Kuwait’s biggest oil producing company with the management responsibility on Kuwait’s share and interest in the natural resources in Joint Operations that straddles the border between the State of Kuwait and the Kingdom of Saudi Arabia. Their responsibility includes oil extraction and managing all shared resources in general.
- Multiple Spreadsheet, PDF’s, Word documents in use
- Inadequate data availability
- Complete dependency on JO’s for Management Reporting.
- Integration with Joint Operation Database
- Timely availability of Data
- Auto Generation of Reports and Dashboard
- Daily Status of Oil and Gas Production at Joint Operations)
- Keeping the Budget process as is in TM1 like in Cognos EP
- Data integration between HR , Recordbook and Financial Model
- Faster completion of budget cycle
- Automate data entry fields from source
- Real time value to analyze report on daily basis for H.R. department
- Faster and accurate reporting process
- Iterative methods in budget process can follow top down /bottom up approaches as per business requirements
- Mail alerts, exception reports are available
- Integration with JO database and making data available through SFTP servers
- Common platform for better data analysis
- Timely delivery of reports to Parent Company for approval
- Reduced communication done via. Hard Copies, PDF’s and Unstructured spreadsheets
- Reduced IT Support cost due to increased end user ownership of Budget and Forecasts Target Setting processes without the need for technical input
- Increased reliability of planning and forecasting figures
- Team Created Dashboard for higher management analysis for daily production
- Reduced to and fro reminder emails between JO’s and HO for providing data