About the Client
Founded in 1989, the Client is one of the largest privately-held independent oil and natural gas exploration and production companies in the United States. Client has over 1,100 employees with operations across the United States including the gulf coast of Texas and Louisiana, Northeast US and Alaska's Cook Inlet.
Operating across the United States, the Client continues to grow by actively acquiring and exploiting conventional assets while expanding its footprint into a number of new resource plays.
The Client’s business allows them to provide benefits and compensation to their partners. The benefits and compensation structure is defined by an accounting department, who would make and store calculations regarding benefits and compensations on excel sheets.
This data had accumulated over the years, and the Client needed an application that would help manage partner benefits and compensation. It would also help generate frequently used reports and forecasts. Due to the confidential nature of information, the portal would be accessible only by senior leadership/management and accountants.
The client had the following expectations from the application:
- Ability to define and create new Management Partners and Partnerships
- Create templates to import previous and current year award data and Values
- Import existing/previous awards data and values by uploading excel sheet
- Ability to add new Awards, Buy-Backs and Buy-Out data using forms
- Create New Buy-Out Schedules
- Generate reports required by user
- Write functionality to View, Print and Export to Excel/CSV format
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Silicus developed “Management Partners Program Portal” with MS Access as a database and VBA for business logic. MS Access was chosen since information was being shared with few users and would could install it or have a single instance running securely locally on individual’s machine.
The portal allowed the client to generate below reports that previously needed complex mathematical calculations:
- Buyouts and Buybacks
- Historical and Growth
- Management Partner Combined Values
- Partnership Values
- Award Date Values
- Grant Values
- Asset Partnership Equity Value (CPPS Value)
Reduced significant time expended every year to calculate Awards, benefits and Compensation data for every partner working with them.
Reduced Calculation Errors
Automating the process eliminated calculation errors for benefits and compensations.
Simple & Cost Effective Solution
The use of Microsoft Access saved hundreds of dollars compared to other larger systems which offer the same functions and usage. MS Access works well with many of the Windows based software programs, and can be used in the front-end as back-end tables with products like Microsoft SQL Server and non-Microsoft products like Oracle and Sybase.
Low Tech but User Friendly
Visual Basic is user friendly and interactive. Users can code, test and debug with ease, given that Visual Basic offers ready-made controls and MDSN (Microsoft Developer Network) assistance for technical issues.