Quorum Business Solutions Inc

Software solutions & services to manage oil & gas, renewable energy and natural resource operation and commercial business processes

Since 1998, Quorum has demonstrated a track record of successfully deploying efficient, cost effective solutions that help companies meet performance goals.

for the AFE Process

Capital Budget & Management (AFE) - business process

Establish budgets for capital investment projects

The Capital Budget and Management (AFE) process involves establishing detailed budgets for capital investment projects, utilizing financial controls and accounting procedures to approve and track authorized expenditures for the project, as well as providing critical management reporting during the project.  Because the energy industry is very capital intensive, virtually every energy company undertakes capital projects of some kind, including exploration, development, production or infrastructure creation.

Capital Budget and Management Processes and Systems

Processes and systems to efficiently manage capital budgets are critical to success. Key elements include:
  • Management of all aspects of established capital budget, including flexibility to allocate asset portions to multiple budgets
  • Authorization for expenditure (AFE) including approval process and workflow automation
  • Capital tracking, including expenditure / budget variance, percentage completion, etc.
  • Compliance with energy industry specific accounting procedures (e.g. COPAS)
  • Support for analysis, strategic planning, opportunity identification, reporting, decision making and risk mitigation
  • Integration into other relevant ERP systems including financial accounting (GL, AP, AR)

Capital Budget and Management Software Solutions

Quorum has experience in the Capital Budget and Management (AFE) process in design, implementation and support of configurable, sustainable, scalable information technology solutions to manage business activities efficiently and cost effectively. In addition to software solution deployment services, we provide a full range of software solutions specific to the Capital Budget and Management (AFE) process, including:

Quorum Enterprise-wide Software Portfolio for Capital Budget & Management (AFE) process

      E&P     Midstream   Pipeline   LNG   LDC   Renewable Energy   Natural Resource   Energy Marketing
    AFE (w/ electronic workflow approval)    

Capital Budget Tracking

  Reporting & Business Intelligence   Multi Dimensional Reporting & Business Intelligence (BI) Solution