CORE AFE

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Core is the only energy industry specific capital cost tracking system. Funding any activity in the E&P sector requires complete integration to a financial system and a direct link to all operational information.CENDEC’s CORE AFE solution delivers on that requirement.

• The most stringent audit and tracking processes in the industry today
• Management of exact daily costs by reporting or automated notifications
• Continuous and consistent tie back to a financial record
• Streamlined integration to other business systems and processes

Critical daily decisions require a streamlined capital management process.
CORE presents the full cycle of the AFE, showing the financial status of each and every project.

• Creation and approval of the AFE
• Automates and supports work flow and process linked to business rules
• 3 way invoice reconciliation
• Delivers decision ready information enterprise wide
• Defines partnership levels and approvals

Our clients do more than just navigate or manage AFE’s, they control capital cash flow.
Providing accurate and reliable information CORE AFE delivers:

 

 

• The ability to quickly enter an AFE with ease using client defined templates
• Simplifies the budgeting process by defining planned costs within the templates
• Approve and review AFEs via email with the AFE attached
• Compare the AFE estimate with daily field costs and actual invoice costs
• Easily see accurate current financial status of each Project and /or each AFE
• Consolidation of multiple AFE's into Projects for high level reporting with drill down capability
• Accurately track up-to-date commitments and accruals to easily manage cash flows
• Mobile approval of AFE’s
• Strict levels of audit control in tracking capital expenditures and future planning

 

 

What’s new or in development from other software companies has always been a standard in CORE.

Our solution has been described as the best industry process for gaining advantage of financial sustainability. CORE AFE leads the industry at:

• Cost Tracking
• Capital Management
• Automated Notifications and Approval Process
• Reduction of approvals and reporting requests from weeks down to hours
• 3-Way invoice matching and approvals
• Configured to your audit, SOX, and IFRS governance requirements
• User defined reporting and single screen workspace configuration
• Immediate reporting on daily actuals versus estimate and budget
• “Out Of The Box” integration to existing financial systems and operations management applications