Syntroleum Corporation is a recognized force in the gas-to-liquids (GTL) industry and is one of the most vocal about introducing the possibilities of commercial GTL and coal-to-liquids (CTL) technology to the world. The advanced processes at Syntroleum put high demands on retrieving and sharing crucial information. Syntroleum has chosen TARGIT to serve this purpose.
Need for enhanced reporting capabilities
Today’s high oil prices, the need to monetize the world’s stranded gas, and the growing urgency for clean-burning fuels provide world-scale opportunities for Syntroleum. Access to the right information is of the utmost importance in Syntroleum’s efforts to develop the energy solution of tomorrow. Complicated accounting requirements are met by Microsoft Navision; however, communication of results through reports has been an ongoing challenge for Syntroleum. To enhance its reporting capabilities, Syntroleum began looking for a Business Intelligence solution that would integrate with the Microsoft product.
Amanda Burns, Senior Accountant of Syntroleum, details the problems they were facing: “The company was currently using two reporting tools. The amount of time to produce reports created a lag in reporting, eliminating any sort of strong analysis because the reports were not generated for nearly a month after the close. Generation of any managerial financial statement had to be processed overnight therefore not allowing any information to be available for decision making during the working hours of the day the information was requested.”
Streamlined reporting
The answer to Syntroleum’s reporting challenge was TARGIT Business Intelligence Suite. Since the TARGIT implementation, Syntroleum has acquired an updated real-time reporting system with electronic reports that eliminate the need for manual preparation and distribution.
Burns explains how excited Syntroleum is about the reporting capabilities in TARGIT: “Users may access reports at any time to check on accuracy of reporting and status of expenditures and resources. The reporting tool also allows users to use visual tools for extended analysis to drill further into the report and understand variances. In the past, the only way to understand a variance or change was to talk to accounting directly.”
Up-to-date reports for all users
Today, the accounting department, research and development team, engineers, as well as executives at Syntroleum, use TARGIT to communicate results, to manage their business units, and to make informed decisions regarding the utilization of resources.
“The TARGIT solution certainly lives up to our expectations. We look forward to further deployment throughout the company and to creating up-to-date reports that are useful and necessary for all users,” adds the satisfied Amanda Burns.
