HOUSTON, March 1, 2016 /PRNewswire/ -- Quorum, the leading provider of software for hydrocarbon and energy business management, today announced that it has acquired ePrime from Retama Resources, LLC. A Texas-based business process outsourcing (BPO) services provider, ePrime offers complete upstream oil and gas accounting and administrative services powered by Quorum software. The acquisition of ePrime augments Quorum's current BPO services for the midstream oil and gas industry to include comprehensive BPO services for upstream.
Given the current volatility within the commodity markets, oil and gas companies must increase operational efficiency in order to remain competitive. Quorum's acquisition of ePrime furthers its commitment to helping energy companies increase operational efficiency, improve business agility and meet the demands of a changing workforce. ePrime has 20 years of experience providing services supported by Quorum software, and the combination of ePrime and Quorum makes it possible for upstream oil and gas companies to realize immediate efficiencies by outsourcing accounting and administrative processes to Quorum.
"With today's macroeconomic climate and market uncertainty, outsourcing presents an opportunity for our customers to improve operational efficiency," said Perry Turbes, Quorum President and CEO. "With the addition of new BPO services, Quorum can deliver value to our customers in more ways than ever before."
ePrime offers complete upstream oil and gas accounting and administrative services, powered by state-of-the-art software from Quorum and delivered by an experienced team of accounting professionals. ePrime has a proven track record of accuracy and efficiency helping clients comply with regulatory and reporting requirements, manage financial risk, improve performance and increase overall operational effectiveness. The acquisition of ePrime will expand Quorum's BPO services for upstream in the following areas:
- Revenue Distribution
- Accounts Payable
- Financial Reporting
- Land/Division Order
"Joining Quorum is an extremely exciting opportunity for ePrime," said Russell Engel, ePrime President and CEO. "Our companies have a long history of success that spans two decades in the upstream oil and gas industry, and we share a common goal to deliver successful outcomes for our clients."
ePrime and Quorum will combine organizations. Quorum did not disclose deal terms or any financial details. For more information about Quorum's complete platform of integrated solutions, visit www.qbsol.com.
Quorum makes innovative software for hydrocarbon and energy business management. Our platform of integrated solutions is designed with deep industry expertise using next-generation technology. It delivers advanced functionality, improved efficiency and enhanced regulatory compliance. And it is proven to maximize profit throughout the energy value chain to drive customer success. For more information, visit www.qbsol.com.
Quorum Business Solutions