President Petroleum chooses LAKE to supply Infor SunSystems financial management solution

LAKE announced today that it is to supply President Petroleum Company PLC with a new finance system based on Infor SunSystems. SunSystems was selected for its currency management, its reporting capabilities and because it is used in more than 600 oil and gas sites around the world.

President Petroleum is an oil and gas exploration and production company with onshore producing assets and exploration licences in Argentina and Louisiana, USA, plus onshore exploration licences in South Australia. It is listed on the London Stock Exchange.

[Name], Financial Controller, explains the reasons for selecting SunSystems:

"Although our current system supports basic accounting needs, it lacks features such as support for multi-currency consolidation, which our business demands. We are also a growing company and need software that is future proof...

.. SunSystems was chosen because of the complexity of our current business, our growth aspirations and the fact that it is used by so many of our peers in the oil and gas sector."

President Petroleum employed a specialist consultancy to assist, firstly, in the selection of finance software and secondly, selection of appropriate supplier.

"The consultancy we used to help with supplier selection is experienced in our sector. It was a formal process at the end of which LAKE was chosen from a shortlist of three...

.. One of the reasons they were selected was that LAKE proposed the most efficient solution to our needs."