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Oryx Midstream Partners with AcctTwo to Move Financials to the Cloud

Midstream Oil and Gas Company Chooses Intacct's Best-in-Class Financials

AcctTwo helps Oryx Midstream move to IntacctHouston, TX and Midland, TX - March 3rd, 2015- AcctTwo, a leading consulting firm and provider of cloud-based financial management solutions, announced that the firm will help Oryx Midstream Services implement Intacct's best-in-class financial management system. Leveraging the leadership team’s deep energy industry experience and building on strong relationships with oil and gas producers in the region, Oryx Midstream is focused on developing, acquiring, owning and operating midstream assets in Texas and New Mexico. After a rigorous software evaluation, Oryx chose Intacct over both Sage and Quorum as a better fit for the company's business needs.

Previous Business Challenges Faced by Oryx Midstream:

  • Oryx needs a system that could scale to match the company's pace of growth.
  • The company requires both sophisticated project accounting and fixed assets capability.
  • Timely and accurate reporting, and the ability to consolidate entities were identified as key requirements.

“Moving to Intacct's automation, project accounting, and fixed assets capabilities has been a huge win for us."

- Karen Russell, Controller, Oryx Midstream Services

Reasons for Selecting Intacct:

  • Intacct has sophisticated project accounting functionality.
  • Intacct provides the ability to integrate a robust fixed assets module.
  • Intacct provides Oryx Midstream with the real-time accurate reporting and mobile access they need to keep management and investors up-to-date.
Key reasons Oryx chose to move to Intacct over Sage and Quorum:
  • Oryx was looking for a true multi-tenant cloud-based accounting solution, a feature not available with Sage or Quorum products.
  • Intacct's workflows were found to be more flexible and configurable than those available with competing products.

Highlighted Comments from Oryx Controller

"We were doing everything manually before, so moving to Intacct's automation, project accounting, and fixed assets capabilities has been a huge win for us." said Karen Russell, Controller at Oryx Midstream. "AcctTwo provided us with the knowledge and solid project management that made the implementation a great success."

Return on Investment

  • Payback Period of 5 Months
  • Year One Net Benefit - $33,670
  • Three Year Net Benefit - $151,810

Additional resources


About AcctTwo

AcctTwo is a leading consulting firm and reseller of cloud-based accounting and financial management software. Our sophisticated systems solve the issues growing middle market companies face today. AcctTwo also provides Managed Accounting Services, allowing clients to focus on the core competencies of their business. We provide the people, processes, technology, and office facilities to perform these functions, while allowing clients to collaborate interactively through an on-line portal.

AcctTwo is headquartered in Houston, Texas. For more information, please visit www.accttwo.com or call 713-744-8400.

Contacts

Peter Wagner
Director of Marketing
Cell: 512.415.6846
Email: pwagner(at)accttwo.com
Topics: AcctTwo News Press Release Oil and Gas Industry Case Study Featured Posts