ORACLE CLOUD ERP: EROTON – EXPLORATION AND PRODUCTION COMPANY SUCCESS STORY

Oracle ERP has promoted the free flow of communication across Eroton Exploration & Production Company Limited resulting in increased synergies between different business arms, it also increased efficiency as processes are streamlined and information is readily accessible to those that require it. Costs associated with outdated and ineffective technology has been greatly reduced.

Most certainly, the benefits realized which include increase in productivity and reduced administrative cost far outweighs the costs of investment. Behind the successful Day-to-Day support of the ERP is Dataflex Nigeria Limited, a leading ICT company in Nigeria. Some of the modules implemented and being supported include 

Finance:-  General ledger, Account Payable, Account Receivables, Expense, Fixed Asset and Cash Management

SCM:-  Procurement, Inventory and Maintenance 

HCM:-  Absence management and Performance management

 So far, we have achieved among others the following: 

• Quarterly update of the applications, Eroton is currently on 21D
• Technical and Day-to-Day real time support
• Refresher training of staff based on request
• Activation of new features based on quarterly updates
• Building and customization of reports for finance and management
• Training of new resources as they onboard
• Simulation and activation of new processes for  better business operation

Oracle ERP application has been useful in eliminating various manual processes ranging from supplier’s registration, procure to pay processes, paper approval etc.

Budgetary control in the financial module has helped budget department to monitor various departments spending by tracking their transactions in budgetary control dashboard.

Account payable monitors and captures invoices which have eliminated the problem of duplicated payments.

Accounts receivable is used for the tracking of payments on invoices issued by customer. 

Self-service procurement does the consolidation of contracts and tracking of various suppliers in the system.

Asset module has simplified Eroton’s asset management processes, depreciation calculations, compliance requirements and tax calculations. Also, with the maintenance module, the company has been able to automate and streamline plant maintenance processes by triggering alerts and notifications for timely inspections and maintenance.