Accenture Awarded Management Consulting and Systems Integration Contract from Tullow Oil to Transform Finance and Supply Chain Functions
LONDON--(BUSINESS WIRE)-- Accenture (NYS: ACN) has been selected by Tullow Oil (ISE: TLW) to design and implement a new SAP® solution to replace the oil exploration and production company's accounting and supply chain systems and to manage the integration of the technology and business processes across these two functions through development of a new target operation model.
Under the terms of the contract, Accenture will work with Tullow Oil to implement the financial accounting and controlling module of the SAP ERP Financials solution, materials management with the SAP ERP application and the SAP for Oil & Gas set of solutions, using Accenture Enterprise Services for energy companies. Accenture will also undertake change management work to support the teams and processes that benefit from the integration.
Accenture had been working with Tullow Oil since early 2011, supporting its finance function in the configuration of the SAP solution to replace its current accounting system. During this process, the range and number of interactions with the supply chain function, as part of the requisition to pay process, became increasingly evident.
In early 2012, Accenture and Tullow Oil conducted a feasibility study on implementing one standard platform across both business functions.
"Our feasibility study demonstrated that implementing an SAP solution across both our finance and supply chain functions will create a more cost-effective, standardized operating model that will allow us the flexibility for future growth," said Andrew Marks, chief information officer of Tullow Oil. "We selected Accenture to manage the implementation based on its technical and industry expertise, as well as its team's good understanding of our sector and business operating model."
"This integration will provide Tullow Oil with an advanced platform to manage its business in a more time- and cost-efficient way, benefiting its customers, employees and suppliers," said Johan Nell, client director and managing director in Accenture's Energy business. "We are delighted to have been chosen to help Tullow Oil in the transformation of its finance and supply chain functions and to help the business achieve high performance."
Accenture is a global management consulting, technology services and outsourcing company, with approximately 261,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.
Accenture Enterprise Services
The Accenture Enterprise Services (AES) for Energy is an innovative, comprehensive and proven approach that helps energy companies accelerate enterprise-wide business value for high performance and lasting competitive advantage. The service links industry-specific, leading-practice processes to preconfigured enterprise resource planning (ERP) solutions built on the latest ERP technology and are packaged with complete process documentation and industrialized implementation accelerators. www.accenture.com/enterprise-services-energy
About Tullow Oil
Tullow is a leading independent oil and gas, exploration and production group and is quoted on the London, Ghana and Irish Stock Exchanges (symbol: TLW.L). The Group has interests in over 100 production and exploration licences in 22 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and Asia.
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