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Tenrox Time and Expense Helps P2 Energy Solutions Track Project Profitability and Improve Product Pricing Tenrox, the Integrated Operational Control and Compliance Software Company, today announced that P2 Energy Solutions Inc. has implemented Tenrox Time and Expense as an enterprise-wide solution to standardize—into one system—the company's previously diverse processes for capturing time and expense data. Tenrox Time and Expense will also be used to track profitability and costs of P2 Energy Solutions' seven product lines across all clients, departments and business units. To date, over 350 users have been trained on the Tenrox solution, which is tracking 1,300 projects with over 16,000 associated tasks. Headquartered in Houston, with offices throughout Texas as well as Colorado and Calgary, Alberta, P2 Energy Solutions is the oil and gas sector's largest owner and provider of enterprise solutions encompassing financial and operational software, implementation, integration and outsourcing services, mapping data and storage systems. “Tenrox Time and Expense is one of the first enterprise-wide systems to be implemented as part of our corporate-wide initiative to standardize and merge together the companies that now make up P2 Energy Solutions,” said Jeffrey Baldwin, Vice President, Enterprise Technology Services at P2 Energy Solutions. “With 60+ departments within 12 business units located in five separate locations, capturing time and expense in a single system will greatly improve our operational, HR and financial business processes. Plus, Tenrox is providing the flexibility we need to accommodate our future growth and expansion, which will result in even more diverse product lines and business processes.” Prior to implementing Tenrox Time and Expense, a multitude of time and expense processing methods were being used by various groups throughout the organization. By standardizing this process under one enterprise-wide system, P2 Energy Solutions has eliminated the inherent difficulties of handling and importing data from these various sources into the company's ADP payroll system. The equally diverse processes and systems to capture time for client billing have also been standardized under Tenrox Time and Expense. In addition, the Tenrox solution is being integrated with P2 Energy Solutions' new Microsoft Great Plains enterprise wide accounting package to improve the efficiency of the expense reimbursement process. Once integrated, expense reports will be created automatically from corporate credit card transactions that can be edited by the user. In addition, as the application is fully implemented, accounting will no longer have to manually enter expenses into the accounting system. Approved expenses will flow from Tenrox Time and Expense to the accounting system for payment, speeding up the process and reducing the risk of data entry and transposition errors. Additional benefits include more accurate accounting of costs related to specific projects and products enabling P2 Energy Solutions to:
About P2 Energy Solutions Inc. P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry's most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream, Excalibur, Qbyte, Tobin LandSuite™ and Tobin SuperBase®. With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity, while maintaining effective controls. The company has a 75-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at www.p2es.com and www.tobin.com About Tenrox Tenrox empowers client companies to meet the challenges of globalization, enterprise fragmentation and increased regulatory scrutiny. Available on-demand or on-premises, Tenrox solutions have served more than 800 organizations in 50 countries, maximizing efficiency, data security and reliability. Since 1995, Tenrox has served organizations such as Rio Tinto Alcan, E*TRADE Securities , First National Bank, Visa, Hydro Quebec, Invensys Systems Canada, Major Drilling, Pioneer Natural Resources, US Army, The Pentagon, Talisman Energy, University of Michigan, Northrop Grumman, Oxfam, Thermo Fisher Scientific, Estee Lauder and Wyeth. Tenrox software is available through direct sales channels and a network of worldwide partners. For more information about the company or its award-winning family of products, go to www.tenrox.com. Media Contact:
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