Why are digital platforms important to CFOs?

Lily Swain

Using digital platforms is something that many of us do without thinking about it – we jump back and forth between software applications, social media and websites.

A digital platform allows for others to connect into them. Their application programming interfaces (APIs) make it easier for other software products to interact with theirs and to build solutions that share data and co-create value.

Using multiple systems may make it difficult to identify and respond to business opportunities as an organisation grows. As the business gets larger, department boundaries tend to become more formal and information can become more siloed and harder to find.

Sharing a common platform and database across an organisation, can help keep everyone on the same page – and focused on customers.

To help energy sector CFO’s overcome these hurdles, TouchtoneEnergy have developed our Business Process Management platform.

TouchstoneEnergy’s Business Process Management Platform (BPM) enables organisations of all proportions, in a multitude of disciplines, the capability to develop processes that satisfy and often exceed business expectations.

The BPM extends the reach of business information to not only Finance & ERP applications, but CRM and other business applications through extensive integration capabilities.

TouchstoneEnergy can supply a range of pre-built business processes such as:

AFE approval, eCAP (Electronic Contract Approval) and Safety, Health, Environmental and Quality (SHEQ) Solutions

These pre-built business processes remain configurable to adapt to each individual organisation.

There are multitudes of data sources the Business Process Management platform can access. Some of these include Microsoft SQL Server, ODBC and Oracle.

The BPM can help your business by automating the processing, management and performance monitoring for some of the most complex, manual and repetitive tasks in finance, complementing other systems such as ERP and performance management. This reduces the time and resources required to successfully run your business, so it’s a platform that is clearly of importance to many CFOs.

  • Share on:
Lily Swain

Written by:

Lily Swain

Marketing Manager

More

You may also be interested in...

Blog

Managing the transition from legacy to modern systems

Managing the transition from legacy to modern systems

Legacy IT Systems, either software or hardware that were commissioned in the early 2000’s, are a significant obstacle in any organisation’s…

Read more

Blog

Oil & Gas Industry truly leading when it comes to Cloud Computing

Oil & Gas Industry truly leading when it comes to Cloud Computing

The ‘lower for longer’ oil price has forced upstream Oil & Gas companies to look hard at their costs

Read more

Blog

Ensuring Profitability in the Energy Sector

Ensuring Profitability in the Energy Sector

For maximum returns, the timesheet process must be simple and fully integrated into the financial management system. Read our blog…

Read more