Oil and gas companies need back office software specifically tailored to their industry to manage functions like oil and gas accounting and land records management. This software also facilitates oil and gas reporting for regulatory compliance. By using such software, companies can track financial asset depreciation, manage the costs associated with complex operations like exploration, extraction, and production, and monitor revenue across multiple locations and mineral deposits. While customer management features are not always included, integration with CRM software is crucial for a complete solution. To accurately calculate costs and revenues, oil and gas back office software must consolidate data from various systems, including oil and gas asset management, oil production, payroll, and HR, ensuring that labor costs are effectively tracked and managed.
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