Oil & Gas – Scandinavian Oil Company – Investment Portfolio Management

Scandinavian Oil Company – Investment Portfolio Management

Managing the Investment approval and reporting processes to enterprise investment returns

This leading oil and gas enterprise needed to replace its legacy approval and investment reporting system and saw this as an opportunity to adopt current investment best practice processes within their new investment management application.

Challenge

One of the biggest challenges for any organisation is to successfully manage historical or legacy data migration when replacing or renewing IT applications. This is made even more challenging when the application is an in-house development, were the in-house expertise and documentation may no longer be to hand.

This organisation needed to answer several key questions they faced:

How could a robust approvals process be implemented that mirrored current and future organisational processes?
As the cornerstone of support for investment management processes could the selected IT application support a developing organisational maturity for portfolio management.
How could the enterprise leverage new industry best practices, both in terms of business processes and supporting applications?
Was there an “Out of the Box” application that would integrate with other existing enterprise applications making data integration and support easier?

Approach

Through a series of workshops organisational requirements were developed and documented and a straw man prototype was produced. This was reviewed and developed by the joint client and Hyde Park Solutions team until final requirements were documented and signed off.
The joint project team set about training the organisations users and technical operations staff.
Hyde Park Solutions is retained today by this client to provide technical support.

Benefit

The joint Hyde Park Solutions and customer team implemented a single enterprise Investment Portfolio Management and Approval application that mirrored organisational processes.

“… we have an enterprise system that enables us to track investment approval as they move through the investment lifecycle…”

“…getting legacy system data into our new Oracle Primavera Portfolio Management application was difficult but we did it”

“Hyde Park’s PDLU data integration utility brings our two donor data sources into OPPM every time without error, a reliable simple data management solution”

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