Oracle upgrades ADCO finances

Oracle has upgraded the Abu Dhabi Company for Onshore Oil Operations (ADCO) financials software to its web-based Oracle Financials 11i, in order to streamline the oil company’s business processes.

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By  Paul Barthram Published  May 4, 2003

Oracle has upgraded the Abu Dhabi Company for Onshore Oil Operations (ADCO) financials software to its web-based Oracle Financials 11i, in order to streamline the oil company’s business processes.

The upgrade—which came in on budget and took three months to complete—now means the company’s key financial data is available to ADCO oil fields and remote locations, allowing the company to gain enhanced control over its finance-related processes.

Matar Al Ameri, Finance & Control Manager for ADCO, said the greater availability of the 11i system would ultimately make the company’s procedures more effective.

“Our objective was to enhance competitive advantage, and with Oracle E-Business Suite 11i, all of ADCO’s financial information is consolidated and available in real-time, which makes us a more efficient, productive, and knowledge-based organisation. Now ADCO has even greater control over key business processes, with increased transparency and faster processing and closing cycles,” said Al Ameri.

Oracle ‘s E-Business Suite 11i, which comprises of Oracle Financials 11i and several other web based solutions, has now been adopted by a growing number of energy companies in the gulf region. Husam Dajani, president of Oracle Middle East said the adoption of the technology showed a commitment from companies within the region to reduce costs.

“Energy leaders such as ADCO are increasingly interested in reducing costs and maximising efficiencies to enhance performance and remain competitive in a fluctuating oil market. ADCO’s migration to the latest Oracle E-Business Suite software shows the company’s commitment to improving productivity and increasing information availability and reducing administrative costs,” said Dajani.

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