DOB Top Operators Report Shows 70% of Canada’s Biggest Oil & Gas Producers Use Pandell Land & Financial Software
Canada’s top producing oil and gas companies will tackle many obstacles this year but for most, finding land and financial management software to support their continued growth won’t be one of them. Analysis of Canada’s largest oil and gas producers shows 42 of the top 60 (or 70%) use Pandell software to manage new land asset acquisitions; land lease administration and right-of-way; joint venture and production accounting; AFE tracking; accounts payable automation; and executive reporting. This high rate of adoption is attributed to Pandell leading the technology shift to cloud-based, software-as-a-service for the oil and gas industry.
The 2021 Top Oil Producers report co-published by the Daily Oil Bulletin and KPMG looks back at how Canada’s oil and gas leaders pivoted to meet the challenges of 2020, and how they are positioning their organizations for future success. The report predicts technology, whether for subsurface or the back-office, will be the next target of investment to improve productivity and drive down costs. This means producers are looking for ways to automate back-office functions and leverage data analytics to improve their decision-making. They’re spending less time on data entry, IT administration, systems integration, and gathering up business data for reporting ― and more time managing core drivers of their business.
Pandell supports this movement by giving companies the opportunity to centralize data across their organization, view land data on GIS maps, and generate live reporting analytics on a system-integrated dashboard. In addition, Pandell’s extended solution offerings include experienced data digitization and conversion services. This fills an important service role and offers more value to Pandell clients.
- Better process efficiency. Pandell’s cloud-based software products are directly integrated to streamline land, GIS, financial, and operational data into a single management platform with aggregated reporting. This cross-discipline approach delivers the highest level of accuracy and ease with which to generate and utilize information across the company. Plus, flexible, user-based subscription fees help operators keep tighter reigns on spending during economic highs and lows.
- Outstanding support services. Pandell’s top-rated customer support desk answers client calls in less than 60 seconds – a welcome change for companies that have had to endure painfully slow support from other software vendors.
- End-to-end data conversion management. Pandell supports operators through busy cycles of M&A work by helping to migrate data from legacy financial and land systems, perform paper-to-digital data clean up and transcription, and expertly map GIS land data.
Below, read how Pandell helped two Canadian operators achieve key operational goals by digitally streamlining data management across their enterprises.
“Accounting analytics and financial reporting are right at our fingertips” – Chief Financial Officer
A mid-sized producer of natural gas and NGL in Western Canada chose Pandell for its fully integrated financial suite. The client, a user of Pandell JV financial accounting software, was struggling to process thousands of paper invoices it received every month. By leveraging Pandell AP for accounts payable automation and Pandell VP for electronic invoice submission by its service vendors, the company saved countless admin hours and costs. The company then adopted Pandell AFE to track capital project work and align with approved budgets. Finally, Pandell XD was implemented to aggregate data into a dashboard of graphs and widgets so the company could monitor its trends and KPIs in real-time.
- Eliminated redundant, manual data-entry processes in accounting and finance
- Improved vendor communication by enabling invoice status transparency
- Reduced A/P processing time through automated workflow and direct integration with master accounting data
- Facilitated tighter management of operational cashflow
“Viewing land asset data in GIS maps is remarkably helpful for tracking the status of our projects” – Vice President, Land
A mid-sized international E&P company with conventional and non-conventional operations in Canada chose Pandell for its integrated land and GIS solutions. The operator was using a 30-year-old land system but switched to Pandell to overcome significant challenges in maintaining contract obligations, managing road-use billings, and meeting demands for mobile technology. By converting to Pandell’s Land and GIS Suite, consisting of Pandell LandWorks, Pandell Projects, Pandell GIS, Pandell Roads, Pandell Crossings, and Pandell Connect, the company gained measurable returns.
- Recovered hundreds of thousands of dollars in unbilled road-use revenue
- Replaced disjointed manual processes with a unified digital platform
- Gained access to powerful reporting tools:
- Dashboards – displays live, aggregated data in a variety of charts and widgets.
- Smart Search & Save – combines any components tracked in the data grids and displays them in interactive tables or GIS maps for ad-hoc or recurring analysis.
- Canned Reporting – compiles standard industry reports in multiple output formats.
Today, with 70% of Canada’s biggest oil and gas producers using Pandell software products, the industry has shown a clear move toward Pandell’s tech-forward tools for back-office management.
Pandell is an industry leader in delivering Software-as-a-Service (SaaS) solutions to 500+ energy companies in Canada, the USA, and abroad. Our customers range from startups to major enterprises across energy sectors including oil & gas, pipelines, utilities, mining, and renewable energy. Our cloud-hosted product suite helps finance, land, and field operations run their business more effectively; while our enterprise division builds and manages large-scale web portal applications that facilitate work across organizations. Combining the strength of our industry experience, Lithium™ technology, and practical software subscription model, we are Crafting the Future of Energy Software.