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Hitachi Solutions to Unveil Joint Venture Solution for Oil and Gas Industry

Hitachi Solutions Canada, a leading global provider of industry solutions based on Microsoft Dynamics AX, will be launching an oil and gas Joint Venture Solution using Microsoft Dynamics AX 2012.

Powered by Dynamics AX, the Joint Venture Solution will deliver the key functionality needed for oil and gas financial operations, including project and cost center management, contracts to manage joint interest agreement details, joint venture billing, authorization for expenditure (AFE) management, and gross/net reporting to enable companies to manage their end-to-end joint venture partner billing and cost control processes within one system.

Key features of the Joint Venture Solution will include:

  • Contract management (DOI)
  • Partner management
  • Cost registration
  • Cost distribution (joint venture splits)
  • Joint venture billing (partner billing)
  • Cost reversal
  • Authorization for expenditure (AFE)

“We are thrilled to be able to offer this solution to our existing and potential clients. Upstream oil and gas companies using or looking to implement Microsoft Dynamics AX will have the joint venture functionality they require with this added module,” said Salim Faroukh, Vice President – Products and Industry Solutions, Hitachi Solutions Business Solution Group of Hitachi Solutions America.

“The new Joint Venture Solution combined with our oil field services functionality will truly complete the offerings we can provide the oil and gas industry, which is a key area of focus for us,” said Muneer Hirji, President, Hitachi Solutions Canada. “With increasing collaboration among oil and gas companies, we look forward to showing our clients the benefits of this innovative solution.”

Hitachi Solutions Canada is an award winning Microsoft partner with over 60 oil and gas industry customers and extensive experience in developing, implementing, and upgrading Microsoft Dynamics AX. To find out more please visit, http://canada.hitachi-solutions.com.

About Hitachi Solutions

Hitachi Solutions, Ltd., headquartered in Tokyo, Japan, is a core member of Information & Telecommunication Systems Company of Hitachi Group and a recognized leader in delivering proven business and IT strategies and solutions to companies across many industries. The company provides value-driven services throughout the IT life cycle from systems planning to systems integration, operation and maintenance. Hitachi Solutions delivers products and services of superior value to customers worldwide through key subsidiaries in the United States, Europe, China and India. The flagship company in the Hitachi Group's information and communication system solutions business, Hitachi Solutions also offers solutions for social innovation such as smart cities. For more information on Hitachi Solutions, please visit: http://www.hitachi-solutions.com.

About Hitachi Solutions Canada, Ltd.

Hitachi Solutions Canada is a consulting firm and systems integrator helping customers from strategy to solution through a portfolio of management consulting, implementation and support services. With more than 10 years of experience and over 350 satisfied customers, Hitachi Solutions’ 300+ employees across the country deliver innovative solutions around Enterprise Resource Planning (ERP), Business Intelligence, Portals and Collaboration, Cloud Computing, Custom Development and Integration, Customer Relationship Management (CRM), Application Infrastructure, and Support Services. For more information on Hitachi Solutions Canada, please visit: http://canada.hitachi-solutions.com.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company’s consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

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