Managing the process of approving new and existing Authorization for Expenditure (AFE) requests, our AFE process creates the budget ready to spend against whilst delivering full cost control transparency.
AFE Automation streamlines the complete AFE process, from initial request for approval, through to budget creation, tracking, reporting and project close-out activities.
As a result of implementing AFE Automation, our clients benefit from full cost transparency, spend to date against budget, and available budget across different cost headings and project phases.
unlimited AFE types, our AFE Automation solution delivers full spend against
budget by accounting for every associated cost, tangible or intangible
– increasing the accuracy of AFE estimates.
By recording expenditure against both AFE and corporate budgets, using cost categories, currency and project phases, users can create their own user-defined reports that easily identify early trends and potential project overspend.
provide seamless integration with Infor SunSystems creating the AFE record and associated
budget, enabling budget vs actual expenditure reporting and further assisting
with budget control and compliance.
TouchstoneEnergy can also fully integrate
AFE with your existing accounting ledger, procurement, asset management and
budgeting systems, catering for multi-currency and supporting complex
joint venture/project ownership.