Cognos, the world leader in business intelligence and corporate performance management, has announced that Petrofac, a leading provider of total facilities solutions for the oil and gas industry, has chosen its software to manage their corporate performance reporting and group financial information.
Petrofac, which builds, operates, finances and co-invests in plant, upstream, midstream and downstream, has three main operating centres globally, one of which is based in Sharjah in the UAE. Following a market evaluation, Pertofac’s corporate team chose Cognos Controller to help it improve its financial reporting, planning and forecasting activities by providing a comprehensive view of the company’s operations.
“Cognos Controller won on all accounts,” said Leigh Howarth, Group financial Controller at Petrofac. “It is the best solution to meet our needs, because it enables comprehensive group reporting and is an easy tool for non-technical finance staff to use. It meets our requirements for a robust, responsive and easy-to-use management reporting web based tool.”
As a result of substantial international growth in all sectors of its business, Petrofac realised it had outgrown its existing reporting systems. It needed a more sophisticated performance-reporting tool to produce business critical data and consolidated reports for all company stakeholders.
“Cognos Controller offers efficient consolidation, detailed analysis, ongoing process control and rapid deployment- all the aspects we were looking for as a business in a changing and competitive marketplace,” added Howarth.
Other benefits that Petrofac expects to gain from Cognos Controller include increased automation of the financial reporting process with subsequent savings in time. The system will also provide the necessary full audit trial and will be fully owned by the finance team.
“More and more multinational companies are looking for advanced performance reporting tools to give them faster access to more relevant and more accurate corporate information. Cognos Controller has an intuitive interface that makes it an ideal solution for responding to this challenge, helping finance departments to produce consolidated reports faster and more easily and to gain better insight into performance of the business as a whole,” said Graham Walter, vice-president, Cognos UK, Middle East and Africa.
Cognos’ solutions deliver the most compressive and fully integrated set of business intelligence capabilities in the industry. The software shares common framework services such as security, metadata and user portal. Beyond this integration and breadth of capability, each business intelligence capability is also best in its class.
