Santos
A proudly Australian company, Santos is a leading supplier of natural gas, a fuel for the future, providing clean energy to improve the lives of people in Australia and Asia.
Santos is already Australia’s biggest domestic gas supplier and aims to be a leading Asia-Pacific LNG supplier. For more than 65 years, Santos has been working in partnership with local communities, providing Australian jobs and business opportunities, safely and sustainably developing Australia’s natural gas resources, and powering Australian industries and households.
With its origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure and is committed to supplying the domestic markets, unlocking resources and driving value and performance.
Why Recwise?
SANTOS approached RecWise for a demonstration from an external referral. Our champion from another client had recommend the ease of use and capability of RecWise. This was husband and wife conversation meaning that one person may be ulimately right. We’ll leave that to you personal readers discretion.
RecWise had proven to the exisiting client to be both reliable and robust to do the job that was to manage the reconciliation process without hassle and excessive cost.
Having a solid referral mean that the SANTOS team understood what they were getting therefore they could meet compliance and audit requirements that were found in prior audits for consistency.
The Solution
The implmentation was simple and whilst we provide training as part of the overall package as a client SANTOS took this upon themselves to read and understand.
This allowed the team to ensure that the understandings of the application could be relayed to the other users in terms they understood. This made for a simpler than usual install and delivery.
Previosly the reconciliations were managed as a disparate amount of spreadsheets within the business, with a documented but non visible structure.
The Outcomes
SANTOS managed the install within the timelines set, noting that during the install there were additional month ends before cutover was achieved for go-live.
With the collaboration with Oil Search, SANTOS also onboarded the reconciliations for them into the application. Providing services and segregating data within the application to ensure users see the relevant reconciliations applicable to their business.
Auto-complete rules were also applied in order to maximise the benefit of the application managing the reconciliation process.
Providing visbility across the two entities in the partnership allows for better goverance and financial reporting as well as improved audit outcomes.
The Results
The application has been running effectively since installation with little need to rely on the RecWise team.
SANTOS knows that there are products available that cost considerably more, however as they say a “Rec is a Rec”.
Why spend more to follow when you can have a robust application such as RecWise to manage the process and meet your compliance needs.
