Case Study: An Oil & Gas Company’s SAP S/4HANA Implementation with Venetia Partners
Meet the Authors
Key Takeaways
⇨ One of the top drivers of adopting SAP S/4HANA is the demand for processes that better fit their current needs and meet regulatory requirements.
⇨ Organizations should ensure they have a partner that can deliver an industry-specific solution.
⇨ When companies team up with experienced integrators like Venetia Partners, they can access these processes more quickly.
As businesses change and develop, they are realizing that they need better tools and technology to grow, innovate, and remain competitive in a crowded marketplace. SAP S/4HANA is the central piece of this strategy, opening a new world of possibilities to SAP organizations.
In the 2023 SAPinsider Deployment Approaches to SAP S/4HANA research report, 31% of respondents said that one of the top drivers pushing them to adopt SAP S/4HANA was that their business demands processes that better fit their current needs and meet regulatory requirements. This was the second most-commonly cited reason given by all respondents, behind only the 2027 end of maintenance deadline.
One of the most significant business demands is the need for real-time visibility into finance and operations. Organizations can bolster these insights – and how quickly they become available – depending on the system integrator they use to deploy SAP S/4HANA.
In addition to these demands, organizations should ensure they have a partner that can deliver an industry-specific solution. Venetia Partners has decades of experience in the chemical, life sciences, oil and gas, metals, and consumer products industries, delivering SAP integrations on-time while meeting key performance metrics.
Case Study
Venetia Partners recently highlighted a case in which it was brought in to help a liquid natural gas startup company. The company wanted to grow its capital and the size of the overall organization. It also needed to be prepared to clear any regulatory hurdles that came from the expansion. The company needed an ERP to facilitate these goals, and selected Venetia to help implement SAP S/4HANA.
With financial considerations at the forefront, Venetia concentrated on those functions first. It was able to implement the initial phase of SAP S/4HANA for Procure-to-Pay, Record-to-Report, and Payroll processes in four months.
Oil and gas businesses face strict regulatory frameworks and requirements. Venetia has significant experience in this industry, so it was able to help its client develop industry-specific business process frameworks into its SAP S/4HANA implementation. It also created hosting and application support models. These improved processes helped boost the overall performance of the liquid natural gas startup and increase revenue.
What this Means for SAPinsiders
Improving processes like record-to-report is one of the most common strategies for which SAP organizations utilize SAP S/4HANA Finance. Companies are under significant pressure to reduce the cost and complexity of financial processes.
By investing in strategies to automate and streamline back-office activities, such as record-to-report and closing processes, organizations can streamline complex financial reporting to achieve savings in time and cost while avoiding manual errors.
When companies team up with experienced integrators like Venetia Partners, they can access these processes more quickly, while also ensuring that their solutions have industry-specific frameworks built in.
