Aly Energy Services, Inc. is an oilfield rental and services company operating primarily in the North America.
Previous Accounting Challenges
- Their legacy software could not provide consolidated financial reporting across all of the company's legal entities.
Benefits Realized With AcctTwo
- As a public company subject to Sarbanes-Oxley, strong internal controls were crucial, so AcctTwo's exclusive AICPA endorsement and SSAE16 SOC 1 Type II audit was key.
- The company will save significant costs in the areas of reporting, job costing and job tracking.
- The AcctTwo best-in-class approach will allow their entities to choose their operational software and integrate it with their ERP.
- AcctTwo has enabled capabilities for automated reporting of revenues and gross margin by asset, by location, or by other key reporting dimensions.
- Aly Energy's teams now has enhanced options regarding inter-company transactions and multi-entity consolidations.
- Their new ERP is robust, scalable, and can support the company’s future growth requirements.
Highlighted Comments from Aly Energy Chief Financial Officer
Aly Energy selected AcctTwo as their implementation partner. According to Hidayatallah, "AcctTwo's experience in the oilfield services industry was a big factor in our selection."