Press Releases:
Quorum Launches Next Generation Upstream Oil & Gas Software Suite
Latest technology to improve upstream oil & gas operational efficiency
Houston, Texas – October 4, 2005. Quorum Business Solutions, Inc. (Quorum) a leading provider of software solutions for the oil & gas industry announces the formal launch of the industry’s next generation upstream operations and accounting software suite. The Quorum Upstream Software Suite incorporates process and data management features that address the new wave of accounting and control issues that have impacted the E&P industry over recent years.
Built on Microsoft’s .NET technology, the Quorum Upstream Software Suite includes Land & Lease Management, Division Order, Volume Management (FDC, Production Allocation), Production & Revenue Accounting, Gas Marketing, Cost Accounting (JIB, AFE, FA), Core Financials (GL, AP, AR), and Lease Operating Statements. The architectural design allows companies to deploy the entire integrated suite or only selected modules. Quorum has 15 clients actively using various modules of the Upstream Software Suite.
The functionality within each module was designed based on the requirements and best practices from a variety of large and small Quorum clients. The extent of automation and workflow throughout the suite enables oil & gas companies to more efficiently manage growth without comparable increases in operational and administrative costs. All modules provide extensive security, workflow configurability and process controls necessary with the increased demands of the Sarbanes-Oxley era.
“Consistent with Quorum’s founding philosophy of providing operational and staff efficiencies, the Upstream Software Suite is designed for growing E&P companies to achieve enterprise wide data, transaction, and reporting integration”, said Paul Weidman, President of Quorum Business Solutions. “We will continue to provide first-rate customer support as well as flexible licensing options to help our clients to manage the total cost of ownership of their IT infrastructure.”
About Quorum Business Solutions, Inc.
Quorum Business Solutions, Inc. is a product-centered consulting company that develops, implements, and supports a suite of business software solutions for the energy industry with a unique approach to providing a longer product life span. Founded in 1998, Quorum now has over 180 staff operating out of offices in Houston, Dallas, and Calgary. Quorum has over 40 clients, among which 25 Fortune 500 Companies are represented.
Quorum Energy Software Suite is a set of integrated business applications designed for companies that produce, gather, transport, process and market natural gas and other energy commodities. The inherent integration of the suite allows the products to work together to facilitate straight through processing from wellhead to burner tip. The Quorum Upstream Suite includes products for land & lease management, integrated mapping/GIS, production & revenue accounting, core financials (GL, AP, AR), cost accounting (JIB, AFE, FA), division order, volume management, and gas marketing. The Quorum Midstream Suite includes TIPS , the de facto industry standard solution for gas plant accounting, and products for measurement, division order & disbursements, gathering management, liquids marketing, and enterprise contract management. The Quorum Pipeline Suite includes products for pipeline transaction management, pipeline integrity management, and right-of-way management.
For more information, visit Quorum’s web site at www.qbsol.com or call 713-430-8601.
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