NaftaGaz implements Oracle EPM system for performance management

Oracle EPM System (Enterprise Performance Management) now stores plans, prognosis, financial and non-financial indicators (penetration data, calendar and production time, various specific indicators for the resources utilization control, etc.). It is completely set up, ready to work and commissioned for industrial operation. The implementation of this system in the company business processes enables calculations of the key efficiency indicators for all management objects, assignment of tasks for financial responsibility centers and the most important – the use of single financial and economic data for the provision of information.

With the help of the automated report building, NaftaGaz plans to release a great part of economists work time, earlier spent to data processing, and allot it to deep data analysis.  Quality of financial and economic information used for making management decisions will drastically grow.

- This system virtually fully relieves economists of their routine tasks on reporting preparation and enables them to focus on different types of advanced analysis, including factor analysis based on highlighting of the key business and resource utilization drivers, - says Deputy Director General for economics and finances of JSC NaftaGaz Georgy Khachidze.
- We save man-hours, days and months. Necessary reports are now built literally by pressing one button in Excel directly connected to database. This updates the report data immediately after making changes to database. Top managers now can directly and independently obtain financial and economic data and in different perspective by means of interactive manager panels ("Dashboard'). This will assist the deeper understanding of the company financial and economic indicators and their changes.