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Leveraging SAP digital finance solution
- Most energy companies have multiple lines of business from exploration, drilling, transportation, refining, and distribution all of which have their own complexities.
- Managing accurate financial data across multiple regions and countries adds complexity with multiple currencies, tax and regulatory requirements.
- Inaccurate financial data impacts the organization’s ability to make decisions around critical business functions and has a negative impact on minimizing costs and ensuring optimal inventory levels.
- Financial management requires real time visibility to effectively manage the issues related to volatile commodity pricing.
- Managing joint ventures with one or multiple partners means that managing financial transactions and distributions is more complex but critical to manage profits.