To track capital expenditure in the development of 2000 gas wells in Central Queensland. This project had a 6 week time frame for completion.
Cost control is critical to the management of expenditure across the FSG group. There was a backlog in processing invoices so there was no visibility across real-time expenditure which was adversely affecting budgets, forecast and the claims process.
A cost control solution rectified this issue as well as delivering a real time financial model, providing high level insights into wider challenges on the project.
The solution was developed using a mixture of open-source software tools and big data analytics to provide a system which was both user friendly and insightful from field operations through to senior management.
By using the latest innovations in data analytics and rapid software development, a cost effective solution was created. This automated the invoicing processes including accurately cost coding each line item and completed all tasks with 95% accuracy and potentially reducing the headcount required to complete the task by a minimum of 80%.
The project was completed in 6 weeks with a comprehensive solution in place. The potential reduction in head-count is substantial but the key outcome is the potential usage of the project model for combatting future challenges.
"We engaged ConstructAgility based on a referral due to a major invoicing and cost management issue within one of our groups. We had a major backlog and 6 weeks to rectify it. The tool produced by ConstructAgility was incredible, not only did it deliver what we wanted but was able to answer any other queries we had relating to the invoices, something we could not do with our own ERP. I would definitely recommend!"
Commercial Manager, LNG Operator, QLD.