Professional Advantage has delivered some great benefits to JKX Oil & Gas, an UK FTSE 250 exploration and production company. JKX Oil & Gas has a diverse geographic spread of undertakings, including joint ventures and spanning multiple accounting and tax jurisdictions.
A vital lever for the business is the management of the Authorisation for Expenditure (AFE) process; a primary control in the Oil & Gas sector with significant commercial implications. JKX Oil & Gas wanted to move from a manual and time consuming approach reliant on email and spreadsheets, to an electronic process with tight integration to its critical business systems. Professional Advantage and XMPro provided the solution on budget and within a very tight schedule. What appealed to JKX Oil & Gas was XMPro's ability to address its AFE needs but also address other process issues in the business in the continued push for business improvement.
The new AFE electronic process manages all the touch points across its budget holders and approvers and integrates results back to existing business systems. It has provided a consistent standard across the business. Justification details, linkages to operating agreements, to budgets and budget owners are all enforced adding vital integrity, eliminating delays and providing certainty on progress and ultimately accountability. XMOutlook and XMWeb has also delivered immediate accessibility to a highly mobile workforce.