Streamline and govern AFE creation using templates to standardize the process and eliminate incomplete or incorrect AFEs.
AFE Approval Process
Route AFEs through an automated approval process to expedite approval time and assure SOX compliance.
AFE Reporting & Analysis
Generate AFE reports to compare accounting actual costs to original AFE estimates and easily identify variances.
Quickly create AFEs of various types using AFE templates to assure consistency and accuracy.
WellCycle’s AFE (Authorization for Expenditure) solution provides oil and gas companies with a centralized solution to manage the AFE process, from creation through approval. The solution streamlines the entire AFE process to simplify AFE creation and expedite the 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.
- Streamline the creation of different AFE types using templates
- Govern the AFE creation process to eliminate incomplete or incorrect AFEs
- Attach supporting documents to AFEs
AFE Approval Process
- Route AFEs through an electronic approval process to significantly shorten time to approval
- Automatically route AFEs through approval chains until approval authority has been achieved
- Approve or reject AFEs on a mobile device or via Email
- Streamline the process of revising or supplementing AFEs
- Maintain an audit trail of AFE changes and approvals to support SOX compliance requirements
Track AFE Budget VS. Actual Costs
- Compare accounting actual costs to original AFE estimates
- Easily identify variances between budget estimates and actual expenditures
- Link AFEs to related invoices
- Integrate seamlessly with your internal accounting system
AFE Reporting & Analysis
- Generate standard AFE reports or custom reports using Microsoft SQL Server Reporting Services
- Filter and Sort reports to highlight relevant data
- Quickly export reports to other formats such as Excel or PDF
- 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.
WellCycle AFE Manager provides critical tools and modules to facilitate the AFE management process, including:
- 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.
WellCycle AFE Manager employs a state-of-the-art technical infrastructure leveraging today’s most powerful technologies:
- Microsoft Internet Explorer – Users need only Microsoft’s Internet Explorer Web-browser to collaborate on the WellCycle AFE Manager platform.
- Microsoft Server Platform – WellCycle AFE Manager leverages Microsoft’s Windows Server, Internet Information Server, and SQL Server to deploy a highly scalable and secure enterprise application.
- Microsoft SQL Server Reporting Services – Leverage the power of Microsoft’s enterprise reporting system to benefit from high-end business analytics.
- Highly Secure – WellCycle employs a powerful security model addressing physical, network, system, and application level concerns offering maximum protection of your confidential data.
- On Premise or In the Cloud – WellCycle solutions can be accessed through the cloud in our world-class, SSAE 16 certified data center, or installed on premise in your internal data center. Learn more about the WellCycle Cloud
- Mobile Access – Access WellCycle from your tablet or mobile phone to review AFE information, update status, or provide approvals on the go. Learn more about enabling WellCycle for mobile devices
Contact WellCycle for more information about WellCycle AFE Manager