Software solution automates the AFE approval process.
WellCycle, a leading provider of software solutions to the oil and gas industry, today announced the release of WellCycle AFE Manager 2.0, a major upgrade to their AFE Management software solution.
WellCycle’s AFE (Authorization for Expenditure) solution provides oil and gas companies with a centralized solution to manage the AFE process. The solution streamlines the entire AFE process to simplify AFE creation and expedite time to approval. All AFEs are stored in a central repository to eliminate redundancy across applications and provide a “single source of the truth” for AFE information.
The system provides Web-based access to a central repository of AFEs, facilitating visibility, collaboration, and smooth handoffs between the disciplines involved in the AFE approval process. All AFEs are managed through a consistent approval process to enforce sound governance and SOX compliance.
The system provides the following strategic benefits:
- Streamline AFE Creation – Quickly create AFEs of various types using AFE templates to assure consistency and accuracy.
- Expedite AFE Approvals – Govern all AFEs through a consistent approval process, streamlining and automating the workflow, to significantly shorten AFE approval time.
- Increase Visibility – Provide Web-based access to a single source of the truth for AFE information.
New features in WellCycle AFE Manager 2.0:
- Dashboards & Analytics – Provide visibility to key AFE information and analytics through digital performance dashboards.
- AFE Workflow and Approvals – Govern all AFEs through a consistent workflow automating electronic approvals and notifications.
- Attach Documents – Store AFE-related documents, such as spreadsheets and other supporting documentation, in a central document repository.
- Adaptable Platform – Quickly and easily adapt WellCycle AFE Manager to your unique AFE process and management requirements – without programming.
- Integration with other Systems – The WellCycle open SQL Server database architecture allows data from other systems, such as Accounting or Well Planning, to be easily integrated with AFE data.
Contact WellCycle for more information about WellCycle AFE Manager