Pan-Petroleum supports growth with financial accounting solution from Sapphire

March 7, 2009 - PRLog -- LONDON, UK -. Sapphire today announced that it is to supply and implement the Infor FMS SunSystems financial accounting and reporting solution at Pan-Petroleum for an undisclosed sum.

Pan-Petroleum is an independent oil and gas exploration and production company founded in 2008 with a primary focus on West African opportunities.  A fast growing company, Pan-Petroleum's strategy is to generate substantial shareholder value through a mixture of organic and inorganic growth - driven by the expertise of its management and staff.

The management team soon found that their existing accounting package no longer serviced their requirements, particularly with regards to reporting.  Mike Smith, Head of Finance, at Pan-Petroleum explained: "We had been using Sage, which was fine when we first started out in early 2008, but we quickly reached a point whereby we needed a new system for our statutory and IFRS reporting.  The ability to do Multi-GAAP reporting was vital - we needed to easily and cost-effectively provide information and reports for multiple regions from one solution."

Mike and his colleagues in the finance department reviewed accounting packages available on the market before short listing IDEAS, an Oil and Gas sector specific package, and Infor FMS SunSystems, a solution well known and widely used within the sector.  As part of the review process Mike viewed an online presentation from Sapphire which was then followed up by face to face meetings.  Mike had used SunSystems previously and was impressed to see the improvements that version 5 had made; he was also interested in the developments made to the Vision reporting suite.

Of the subsequent decision to implement SunSystems from Sapphire, Mike stated: "SunSystems has flexibility through corporate allocations and will be the best solution for Pan-Petroleum as the company grows and develops."  He added "I, and others in the team, have previous experience in using SunSystems, which gave us added confidence that it would be the right system for our requirements and growing needs."

He went on to say "We did look at other SunSystems partners, but Sapphire was highly recommended to us by peers with in the market and was ultimately chosen for the specific industry expertise and experience of the team.  I thought the approach of using a webinar was good and I liked this.  The presentations Sapphire gave were excellent and at the meetings we had the team really demonstrated their in-depth knowledge of our sector."

Once SunSystems is up and running Mike says "One of the benefits we are looking forward to having is flexibility through Vision to give more management reports.  This information will expedite efficient decision making, enabling us to make the best use of our resources."

Steve Wright, Business Development Manager at Sapphire concluded "SunSystems is the ideal solution for Pan-Petroleum; it will support their immediate requirements for Multi-GAAP reporting and accounting as well as providing an excellent platform for the planned growth of the organisation.  We look forward to working with Mike and the team at Pan-Petroleum as they continue to grow and expand their operations."



About Sapphire Systems plc
Sapphire is the worlds leading reseller of SunSystems, an SAP Gold partner and a leading Proactis partner. Since 1986, Sapphire have offered their customers wide-ranging practical expertise in selecting and implementing advanced financial accounting and business management solutions and today provides software, services and support for hundreds of customers worldwide from their offices in London and the USA. Sapphire is a founder member of the British Application Software Developers Association.
www.sapphiresystems.co.uk