Peak Oilfield Services, a firm providing oilfield support services and construction in Alaska, needed to integrate its field-based job costing and back-office accounting systems. Since Peak is connected with five sister companies that provide mining services, construct public works , clean oil tankers and build and maintain uninterrupted power systems in remote villages, they needed to have one solid accounting system that could provide access to data, customized reports and streamlined payroll.
They engaged with Arctic Information Technology, a Microsoft Gold Certified Partner, to replace their outdated proprietary job cost and billing system with Microsoft Dynamics GP, Capture and a SQL Server-based application that could easily be installed at each job site and synchronized with headquarters in Anchorage. As a result, information that formerly took hours or days to access is now available in minutes, enabling better decisions and more profitable operation.
Renate Hill, VP of Finance, for Peak Oilfield Services oversees a staff of 14 who use the Microsoft Dynamics GP General Ledger, Bank Reconciliation, Accounts Receivable, Accounts Payable, Payroll, Human Resource and Fixed Assets modules. Arctic Information Technology also worked with Peak to create links between Dynamics GP and its field-based Capture system. For example, invoice data generated in Capture update Accounts Receivable and General Ledger in Microsoft Dynamics GP, where it is reflected in financial statements more quickly and accurately than was possible before. Employee payroll information, such as hours, rates, union and cost codes, is transferred out of Capture into Dynamics GP to produce 700 payroll checks weekly.
By adopting the Microsoft Dynamics GP solution, Peak Oilfield has faster and more flexible data access, the ability to customize processes and reports and an efficient system that helps them manage their growth more profitably. All Peak Oilfield companies are managed in one Microsoft Dynamics GP installation with its multi-company feature.
“Having only one main installation of the accounting system really saves on our cost to maintain and upgrade the system,” says Hill.
In less than two years after adopting Microsoft Dynamics GP, Peak Oilfield Service Shared Services Accounting Department increased their services from a company of $75 million in annual revenues to 5 companies with an annual volume of $250 million without increasing its accounting staff of 15.
“Microsoft Dynamics GP has definitely been helpful to us in achieving and handling this increase in business,” says Hill. “It’s enabled us to automate processes so that if we’re dealing with 500 employees or 1,000 employees, it doesn’t put any additional burden on us. The software is easy to learn, so new employees can come in and be productive with it immediately.”
by Arctic IT, an Alaska Microsoft Dynamics GP Partner
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Great post. Keep up the good work
[...] Microsoft Dynamics GP For Remote Oil Field Services [...]
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