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News

Article

3 Things Your AFE Management is Missing Today

Aug 07 | Product News, Corporate

Calgary, AB – (Aug 07, 2014) Effectively managing your company’s AFEs can be slow, error prone, and difficult, when you’re relying on inflexible software or spreadsheets. If your AFE admins and approvers have to hunt down support info from a bunch of sources; or another jam-packed AFE folder has gone missing again; or you simply have no way of knowing what your current spend is for a specific cost center or region; then there are 3 things seriously missing from your AFE management:

1. Fast, paperless AFE workflow and approvals

2. A central hub to house all your AFE data

3. Ad-hoc reporting for any AFE search


Automation

An automated AFE management system frees up time by eliminating manual tasks. Things like data entry redundancy are gone because applications automatically populate documents using the same information. An AFE won’t go missing because today’s software digitally tracks it for you. You are actually able to see who has the AFE and how long they’ve had it at any time. Certain applications will even send email reminders when user action is required.

Central Repository

Imagine having a central repository where users upload and store all related documents for each individual AFE in one secure location. Thank the techies for making this a reality! A digital repository means users can access it anytime and searching for documents will no longer be a dreaded task. Also, with all the documents in one place users will get a better understanding of the AFE history. The physical management of paperwork is gone because it’s online.

Better Analysis

Finally, you can properly analyze costs and find more effective solutions because accurate, real-time data is available when you need it. Users are able to track and compare expenditures regardless of their location, meaning those in the field no longer have to wait for reports. Also users will have more time to analyze and interpret data instead of being bogged down with manual administrative tasks.


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About Pandell

Pandell is a premier software company that delivers industry specialized Software-as-a-Service solutions to 500+ energy companies in Canada, USA, and globally. Its web-based product suite helps finance, land, and operations teams effectively run their business; while its enterprise division builds and manages large-scale .NET web applications for organizations. Combining the strength of its industry experience, ground-breaking Lithium™ technology, and practical software subscription model, Pandell is Crafting the Future of Energy Software.