Practus’ CFO Solutions assisted the oil & gas service provider in process improvement, leading to improved accountability and downward delegation of authority.

Client IndustryOwnershipManagementNo. of EmployeesSizeROI On FeeProject Duration
An Oil & Gas Service ProviderServices to Oil & Gas IndustryPublicProfessional~300$13 million3x24 months

About The Company

Oilfield Services is an Oil and Gas industry service provider, offering end-to-end services which extend across the entire upstream value chain, including Geophysical Data Acquisition, Production Facility EPC using the Build-Own-Operate-Transfer model, Turnkey Drilling, and production facility Operation and Maintenance. They offer Integrated Project Management or a specific suite of bespoke solutions, based on what customers require.

Practus’ Role in CFO services

  • Assisted in improving the existing process management system including a budgeting process .
  • Developed a financial road map based on a diagnostic that was carried out in the first 4 weeks of Practus’ engagement​.
  • Managed the IFC audit carried out by Grant Thornton. ​
  • Delivered monthly MIS in the form of P&L account, balance sheet, and cash flow statements.

Impact Delivered in CFO services

  • The cash flow forecast created by the Practus team helped the management free up their analysis time​.
  • Improved process management system led to improved accountability and downward delegation of authority​.
  • Practus project managed the IFC Audit ensuring compliance/implementation of gaps arising out of the IFC audit.

See how Practus can assist you in improving your organization’s Performance