Quorum Upstream Software to Manage Business Process Outsourcing Facility

Share Article

Agreement makes Quorum Upstream Suite Feasible for Companies of Varying Sizes

Quorum Business Solutions, Inc. (Quorum), a leading provider of business and information technology solutions for the oil, gas, and renewable energy industry, announces that the Quorum Upstream Suite has been selected and implemented at a business process outsourcing facility in College Station, TX.

"We are excited about this new arrangement as it enables us to respond to clients' demands for ASP and hosted offerings of our products," said Paul Weidman, CEO of Quorum. "Quorum now has the opportunity to work with clients who may not otherwise have the necessary resources to implement our software."

Quorum Upstream Suite is a set of comprehensive operations and accounting applications for the E&P industry. The integrated software suite addresses the full spectrum of E&P activities, providing easily accessible information across cost activities for better and faster decision making and reduced administrative costs. The suite includes Quorum ERP, Quorum Land Suite and Quorum Production Revenue Accounting. Quorum ERP allows for the planning of how business resources are accounted for and utilized throughout an organization and consists of capital budget tracking, financial accounting, authorization for expenditure (AFE) with electronic workflow approval, joint interest billing (JIB), fixed assets (FA) and contract management. The financial accounting applications include accounts payable with electronic workflow approval, accounts receivable and user defined financial reporting. Quorum Land Suite streamlines complicated land management processes, such as managing payments, terms and obligations of leases, surface use agreements, contracts, and fee property and easement land data. Quorum Production Revenue Accounting forecasts supply volumes to meet marketing needs as well as owner and contract allocations for actual volumes, and also includes contracts, division order, valuation, revenue distribution, check disbursement and regulatory / tax reporting.

An outsourced facility is ideal for companies who are looking for an ASP or hosted solution which provides them the benefits of using a comprehensive accounting system without the upfront investment. The electronic workflow components of the Quorum applications greatly enhance seamless work processes between the outsourcing company and the clients they serve. To date, three clients are successfully outsourcing their accounting applications using the Quorum Upstream Suite.

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 ongoing relationships with over 100 clients, among which 25 Fortune 500 Companies are represented. Throughout its ten year history, Quorum has successfully completed over 400 business and information technology projects.

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, natural gas liquids, LNG, wind generation and other energy commodities. The inherent integration of the suite allows the products to work together to facilitate straight through processing of the full energy value chain.

For more information, visit Quorum's web site at http://www.qbsol.com or call us at 713-430-8601.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jessica Sumners

Email >