Houston, Texas - August 10, 2004. Quorum Business Solutions, Inc. announces the release of a new, significantly enhanced version of its gas plant accounting and allocations system: Quorum TIPS. Quorum TIPS is the industry standard software solution in North America for natural gas processors. In use since 1992, TIPS is deployed by more than 26 energy companies, comprising 80% of the natural gas liquids processed and allocated in the U.S.

 

Relying upon guidance from the TIPS User Group, the new version of the software has migrated to the next generation technical architecture as part of the Quorum annual product release program. "We have taken TIPS to the next level. The latest technical architecture, delivers important additional benefits to its users," says Mr. Ryan Loving, Quorum's TIPS Product Manager.

 

Functional enhancements include the ability to handle sub-monthly or daily allocations, improved audit and security features to ensure that it meets new industry standards for corporate governance and reporting such as Sarbanes-Oxley. This new version also offers superior performance, scalability, and integration.

 

Following an extensive testing program, Quorum delivered the new version of Quorum TIPS in early 2004. The first client has already completed the upgrade installation, with others underway.

 

 

Quorum Business Solutions, Inc. is a product-centered consulting services company that designs, develops, implements and supports business software solutions with a unique approach to helping clients obtain long-term value. Quorum provides industry standard energy software solutions as well as software products that support selected business processes across multiple industries, including Enterprise Incentive Management (EIM) and Contract Management software. Founded in 1998, Quorum now has over 140 staff operating out of offices in Houston, Dallas, and Calgary. Represented among Quorum’s clients are over 20 Fortune 500 companies.

 

Quorum provides the Quorum Energy Software Suite, a set of business applications for the energy industry that includes TIPS, the de facto industry standard solution for gas processors. Quorum’s energy software products are used by companies that produce, gather, transport, process and market natural gas and other energy commodities. The company’s products include Contract Management, Land and Lease Management, Production and Revenue Accounting, Gathering Management, Environmental Management, Joint Interest Billing, TIPS (Gas Plant Accounting and Allocations), Measurement, Right of Way, Pipeline Transaction Management, Pipeline Integrity Management, Liquids (NGL) Marketing, Gas Marketing, and LDC Transportation Management.

 

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