Energy and Industrial Industry
For companies in the Energy and Industrial sector, or services providers to those industries, AcctTwo's software and services are a perfect fit. We have significant experience in a number of sectors in the energy and industrial space, including the following:
- Upstream Oil and Gas
- Midstream Oil and Gas
- Downstream Refining and Marketing
- Oilfield Services
- Environmental Services
- Industrial Services
- Manufacturing and Distribution
The Intacct ERP system has the ability to integrate with operational systems in order to track and report both financial and operational data. Whether it's volumetric data for oil and gas companies, equipment utilization data, plant capacity, or other key operational metrics, our systems can provide management with key information for managing the business.
AcctTwo doesn't just provide you with an accounting system. We provide custom dashboards for the CEO, COO, or VP of Operations to see their operating statistics and management reports.
Companies that do business out in the field are often hampered by a long order-to-cash process, where many days or weeks transpire between the completion of a job and the receipt of payment. Field tickets are often lost, misplaced, or take days or weeks to be submitted for billing. Intacct, with its ability to integrate with industry-leading field ticketing systems, can dramatically reduce order-to-cash, day sales outstanding (DSO), and reduce revenue leakage, often upwards of 5%.
Timesheet-based companies often wrestle with challenges associated with collecting manual timesheets and entering them into the accounting system to produce invoices. Intacct's sophisticated timesheet capture module allows for seamless dataflow from the initial timesheet entry all the way through to billing.
Most services companies need a project accounting or job costing system that allows for the complete capture of all job related revenues and costs, including labor, materials, and overhead. The ability to produce timely and accurate profit and loss reports by project or job is essential to any services business. Intacct's Project Accounting module makes managing project or job-based businesses a breeze.
Your company needs systems, processes, and reporting to help manage capital projects, whether that's setting up authorizations for expenditures (AFEs), purchase orders, tracking actual expenditures versus budget, or tracking costs by granular categories or cost codes. Intacct's Project Accounting module, combined with powerful general ledger reporting and statistical account capability, make it easy to manage capital projects on-time and on-budget.
AcctTwo's implementation team did an outstanding job. If someone asked for an accounting system and who to implement it, I would recommend Intacct and AcctTwo.
Mark Feldman, Arc Terminals