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Oil and Gas Finance and Supply Chain Success: A Growing Propane Provider Brings 20+ Acquired Companies Under One Roof
A company growing through acquisition streamlines operations and paves the way for continued growth
About
This leading propane provider is among the top largest propane providers in the US and is a leader and innovator of next-generation energy solutions.
Challenge
The company is rapidly expanding via acquisition, but their existing manual processes and limited technology could not keep up to support their continued growth. Finance processes were based on Excel and disconnected across 22 locations, making reporting, analysis, and bank reconciliation difficult.
In addition, there was no integrated procurement/inventory tracking system, and these areas were also disconnected from finance. As a result, the company was unable to efficiently manage inventory, contracts, POs, and more. Staff was forced to manually handle and cross-check 150K invoices per year.
Solution
The company searched for a cloud-based ERP solution that would help centralize finance, procurement, and supply chain activities. They selected Dynamics 365 Finance and Supply Chain Management with HSO as their partner.
Results
HSO helped bring everything under one roof. Finance, procurement, and supply chain were standardized, streamlined, and automated, which includes invoicing, bank reconciliation, inventory management (fuel that is distributed as well as parts used by field service for repairs), management of a large volume of contracts with complex freight, pricing, distribution, tax, and regulatory variations, and more.
With 22 locations, some in remote areas, operating independently, and with differing manual processes, getting all these processes under control was an enormous time saver, freeing valuable employee time—including the CFO—to focus on other important initiatives.