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Accenture helped Statoil, the Norwegian energy company, implement new consolidation and performance management tools that are easier to use and maintain, and that position the company for future growth.
Statoil is an international energy company with operations in 34 countries. Statoil is headquartered in Norway with 20,000 employees worldwide and had a net operating income of NOK 137.2 billion (approximately $24.4 billion) in 2010. Statoil is listed on the New York and Oslo stock exchanges.
Statoil faced several challenges with its existing consolidation tool, enforcing a need for change and improvement. The technology platform was outdated, and there was insufficient integration with the source enterprise system. As a result, the maintenance of master data was both manual and time-consuming, requiring the transactional data to be loaded manually. Another consequence was that it was difficult to track the links between master and transactional data, inhibiting users from comparing enterprise data and consolidated data. Further, the consolidation tool was not integrated with the data warehouse, limiting possibilities and quality of drill-down analysis and functionality.
Other issues were the lack of efficient monitoring and process controls, plus insufficient visibility of data status. Finally, because too many users were working directly in the consolidation tool, the system did not perform well during peak periods.
Statoil chose to work with Accenture based on our understanding of its reporting processes and architecture and our experience of implementing new enterprise performance management (EPM) solutions.
Accenture leveraged its EPM knowledge and resources, including project management, to help Statoil and SAP implement a financial analytics solution based on SAP Business Planning and Consolidation (BPC), SAP Business Warehouse and BusinessObjects components to support controller and performance management. The Accenture team thus played an important role in the completion of this project.
Close cooperation between Accenture, SAP and Statoil helped Statoil to achieve a number of improvements through the implementation of the new consolidation and performance management tools.
The new SAP-based solution is more integrated, helps sharing master data and reducing manual maintenance, and facilitates better drill down functionality. It helps improve the quality and flexibility of external financial reports, and provides a solution that better supports future needs for functionality and compliance requirements. SAP BPC facilitates monitoring and process control. The financial analytics solution based on SAP Business Warehouse provides leading-edge reporting, thus helping reduce the number of users needing to use the consolidation tool directly. Finally, the solution provides a common platform for future solutions and offers better integration with other business applications such as potential risk, governance and compliance areas.
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