Pansoft Company, an ERP software service provider for the oil and gas industry in China, has entered into a software system development, expansion and integration contract with PetroChina valued at approximately $5m.
The contract will include system integration, expansion development, training and technical support. Under the agreement, Pansoft will integrate its centralised accounting system FMIS 7.0 with PetroChina’s other SAP ERP systems that cover operation process such as production, purchasing, sales and logistics and continue to be implemented and extended to all subsidiaries of PetroChina.
The company said that the integration contract was initiated to resolve the redundancy in operations and data entry and lack of communication between the FMIS and SAP ERP systems, two independent systems that were run separately prior to the integration.
Pansoft said that the integration project will form a unified information platform and expand the functionality of the current ERP systems to optimise PetroChina’s operations and systems applications. The platform is expected to leverage the current legacy systems and provide communication and data exchange.
With the new strategic structure, the system will protect the IT investment and establish offerings for the client’s ERP needs. It will also cover operations of all PetroChina’s subsidiaries in China and enhance management and operation decisions with timely, integrated and accessible operational and financial data, Pansoft said.
Guoqiang Lin, CEO of Pansoft, said: Our continued partnership with PetroChina with innovative and on-demand ERP support further strengthens its market position in the industry. This also represents another milestone for Pansoft in integrating its centralised accounting system with mainstream ERP systems in the market based on its flexible and multi-functional interfaces with ERP systems.
“We will continue to leverage our industry expertise, technical capabilities, and strong tool platform to penetrate new potential markets for our FMIS financial and accounting system and increase brand awareness and profitability.
