Process Automation and Advancing Technology Impact on O&G Financial Reporting
The oil and gas industry has always faced uncertainty with its revenue stream given the volatility inherent in global commodity markets. But despite challenges that include upstream volatility, midstream constraints, and industry consolidation, shifting customer demands and new technologies are opening up opportunities for oil and gas companies to become competitive and agile.
Now more than ever, finance and accounting organizations are under increased pressure to maximize efficiencies, increase the use of automation, and provide insightful, real-time analytics to the business in order to make faster, business critical decisions. The recent pandemic highlighted that traditional risk-prone manual processes hinder the ability to produce necessary financial statements, track key metrics and deliver those effectively.
During this session, Trintech discusses how to holistically address the financial close by combining effective processes and technology that increases the overall efficiency and effectiveness of your processes while simultaneously reduces your costs and risk.
- Identify the challenges and risks faced by manually managing your financial close process
- Identify opportunities to implement automation across your financial close process
- Identify best practice examples and next steps to incorporate automation to improve controls, reduce risk and lower costs