Houston, TX (PRWEB) April 10, 2009
Quorum Business Solutions, Inc. ("Quorum"), a leading provider of software solutions for the oil and gas industry, announces today that Quorum TIPS has become an SAP-endorsed business solution. After Quorum TIPS was certified as powered by the SAP NetWeaver® technology platform, the solution has been endorsed by SAP as a gas plant accounting solution integrated with the SAP® ERP Financials solution.
Over 90 percent of all gas processed in the U.S. is processed using Quorum TIPS, making it the clear industry standard for gas processing in North America. TIPS manages the energy industry's complex interdependencies of accounting processes needed to process contractual and physical gas. It enables users throughout the organization to quickly access critical plant balancing, allocation, settlement, gross margin analysis and imbalance data for an enterprise view of plant operations and performance.
The integrated offering allows customers to leverage their investment in solutions from both Quorum and SAP by eliminating duplication of data and parallel processes. The solutions help streamline all aspects of the business workflow through full lifecycle integration of gas allocation and settlement with production revenue accounting and general financials. For clients, this results in fewer hand offs and manual, off-system processes; improved operational efficiency due to increased utilization of assets through their full lifecycle; reduced total cost of system ownership; and maximized profits.
"As the dominant midstream solution, TIPS' robust functionality, flexibility, and market maturity provide customers with significant return on investment," said Paul Weidman, CEO of Quorum. "The solution's full lifecycle integration streamlines all aspects of the financial workflow, while providing full visibility into the company's assets."
SAP-endorsed business solutions are complementary to SAP application offerings, are developed in accordance with SAP development guidelines, and provide additional choices and flexibility for businesses running SAP solutions. To ensure alignment in product releases, both Quorum and SAP will share technology and product roadmaps.
"By endorsing solutions such as Quorum TIPS, SAP continues to build its ecosystem and extend its market-leading solutions for the oil & gas industry," said Isabella Groegor-Cechowicz, vice president of Oil & Gas Industry, SAP. "Quorum's deep understanding of customer needs and its solution for gas plant accounting complements SAP's industry expertise and solutions well. This combination will help significantly reduce the costs and risks of integration and support for our joint customers."
About Quorum Business Solutions, Inc.
Quorum Business Solutions, Inc. is a software and consulting solutions company that develops, implements, and supports a suite of business software solutions for the energy industry with a unique approach to providing a longer product life span. Founded in 1998, Quorum employs over 350 staff operating out of offices in Houston, Dallas, and Calgary. Quorum has over 90 clients, among which 25 Fortune 500 Companies are represented.
The Quorum Energy Software Suite is a set of integrated business applications designed for companies that produce, gather, transport, process and market oil, natural gas and other energy commodities. The inherent integration of the suite allows the products to work together to facilitate straight through processing from wellhead to burner tip.
For more information, visit Quorum's web site at http://www.qbsol.com or call us at 713-430-8601.
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