Technip, a world leader in project management, engineering and construction for the oil & gas industry, has selected EcoSys EPC software as its global cost controls solution. Throughout all regions, EcoSys EPC will standardize processes and integrate with project data sources to automate reporting, and to deliver greater efficiencies and visibility into project cost management.
EcoSys, the industry leader in planning and cost controls software, announced that Technip, a world leader in the fields of project management, engineering and construction for the oil & gas industry, will use EcoSys EPC (Enterprise Planning & Controls) globally as its budgeting and cost controls solution. Technip’s implementation of EcoSys EPC will span all of their territories including Europe, the Americas, Africa, the Middle East, Asia Pacific and Australia. EcoSys EPC will drive the process for budgeting and forecasting including management of multi-currency, commitments maintenance, change management, reconciliation with actual costs and expenditures, performance reporting, and trend analysis.
This decision to expand follows the successful implementation of EcoSys EPC in Technip’s regional headquarters in Houston, TX in 2010. Through the use of EcoSys EPC, Technip USA was able to realize significant gains in efficiency through:
- Standardization of processes and project structures
- Automated integration with the enterprise resource planning (ERP) system yielding better data integrity
- Automation of reporting and data reconciliation allowing more time for forecasting and analysis
Several unique features of the EcoSys EPC project cost management platform proved to be of central importance to Technip. The highly configurable nature of EcoSys EPC allowed the system to match Technip’s existing workflow without custom programming. Further, the ability to bridge differing cost and work breakdown structures, track unlimited budget versions with audit trails, and support extensive multi-currency transactions were ideal for use on large multi-national projects. Finally, EcoSys EPC will consume data from Technip’s current ERP solutions (Oracle® Financials and others) and easily integrate with Technip’s new ERP standard, IFS®, once it is deployed globally.
EcoSys is an industry leader in project management, planning, and cost controls software. Founded by the original designers and developers of the Primavera enterprise project management suite, EcoSys has worked with over 200 customers worldwide in industries including government, oil & gas, utilities, transportation, construction, and IT. Customers include Babcock & Wilcox, Fluor-HDR Global Design Consultants, Marathon Petroleum, and the Shaw Group. EcoSys is headquartered in New York, with offices in London, Houston, San Francisco, and Atlanta.
EcoSys EPC (Enterprise Planning & Controls) is a next generation planning and cost controls software solution delivering best practices for full lifecycle project cost management in an integrated, easy-to-use web application. Bridging the gap between planning and execution, EcoSys EPC is used for capital planning, budgeting and forecasting, and comprehensive management of costs, funds, resources and earned value.