According to Karen Russell, VP of Finance and CAO at Oryx Midstream Services (www.oryxmidstream.com), the company’s previous accounting system and manual purchase order process wouldn’t cut it anymore for managing their millions in spending. For her accounting team, Russell required the flexibility to access financial data any time and manage accounting across multiple entities.
These are the considerations that led Russell to opt for the cloud and to select Intacct’s Accounting Software and Ariett Purchase to Payment.
With Intacct, Oryx easily manages the accounting of capital intensive projects. Intacct’s flexible general ledger design and architecture with eight standard dimensions for capturing transaction and budget information simplified the accounting process. At the same time, Intacct supports global consolidation and financial reporting across entities and projects.
As a fully integrated add-on solution for Intacct, Ariett Purchase to Payment helps employees in the field to use any device to requisition goods or services, create purchase orders, capture invoices and approve transactions for their Intacct solution with support for entities and dimensions. Russell said, “The mobility is a big advantage because people can utilize the system when they’re not in the office and our accounts payable flow isn’t slowed down.”
Now, Oryx can focus more on growing their midstream solutions business instead of having to spend time digging up transaction and budget data!
Read Oryx’s customer success story here: http://www.ariett.com/customer-stories/oryx-midstream-services
Leveraging Intacct’s Multi-Entity Processing & Ariett Contract Tracking Together
Like many Intacct customers with sophisticated operations, Oryx also leveraged Intacct’s multi-entity and project capabilities to streamline accounting for their capital initiatives. This part of Intacct’s architecture allows Oryx to easily report on different project dimensions and details across entities. Combining Intacct’s native functionality with Contract Tracking capabilities, Oryx has real-time insight into the status of purchase orders and invoices related to vendor agreements.
Seamless Cloud to Cloud API Integration
Intacct offers one of the best APIs to connect Intacct to add-on solutions. Through Intacct’s API, Ariett supports Intacct’s standard and custom dimensions, entities, multi-entity processing and allocations. Because of the deep integration, the accounting team can focus on budget and vendor analysis instead of spending time on exporting and importing data. Consequently, Oryx achieved their goal of gaining greater control and visibility to spending.
Visibility to Data Facilitates Better Financial Decisions
“Cloud solutions set a high bar for data accuracy and access to financial information from anywhere that simply cannot be met by manual and on-premise solutions,” said Glenn Brodie, CEO of Ariett. “Oryx and other customers have confidence in using the data from both Ariett’s and Intacct’s cloud solutions to inform their business decisions,” added Brodie.
Learn more about Ariett in the Intacct Marketplace: https://marketplace.intacct.com/MPListing?lid=a2Di00000009HZvEAM