Energy Financial Management solution by WellPoint Systems now available for the United States

Jun 07, 2010, 07:30 ET from WellPoint Systems Inc.

WellPoint Systems offers the first fully-integrated Oil and Gas industry-specific accounting solution powered by Microsoft Dynamics AX platform

CALGARY, June 7 /PRNewswire-FirstCall/ - WellPoint Systems Inc., (TSX-V:WPS), provider of software and solutions designed to transform complex data into business insight for oil and gas industry executives, is extending its Energy Financial Management (EFM) solution to the upstream oil and gas industry in the United States.

The latest addition to WellPoint's Energy Suite of products, EFM Revenue Distribution delivers the first fully integrated Oil and Gas-industry specific accounting solution powered by Microsoft's Dynamics AX.

WellPoint Systems is well-known for its expertise in solving problems associated with the complexity of financial and accounting issues specific to the oil and gas industry. With more than 450 customers in upstream and midstream sectors, the company has excelled in designing solutions that work in the real world.

The company has been extending its Energy Suite product line by developing new applications that include Energy Financial Management (EFM), Energy Broker (ENB), and Enterprise Asset Maintenance (EAM). WellPoint's EFM solution broadens the capabilities of Microsoft Dynamics AX into oil and gas companies by delivering:

    - AFE tracking
    - joint interest billing
    - division of interest
    - international compliance
    - revenue distribution

Working with ePartners, a WellPoint partner and Gold Certified Microsoft Dynamics consulting firm; Endeavour International Corporation, an independent oil and gas exploration company, selected WellPoint's upstream Energy Financial suite to provide oil and gas-specific functionality integrated with its Microsoft Dynamics AX ERP system.

"We needed a solution that could be deployed on an aggressive timeframe and quickly adopted by the company. The combination of Microsoft Dynamics AX and WellPoint's upstream solutions met our business goals and reduced the overall cost of the system," said Lynn Willis, Endeavour's director of accounting and financial analysis. "This was a smooth implementation where ePartners and Wellpoint Systems listened to our feedback, responded to our needs, and ensured we had a successful implementation. I felt like we were a high priority."

According to Michael McCarthy, CEO of ePartners, "WellPoint's upstream financial applications and deep industry expertise, coupled with the power of Microsoft Dynamics AX, offer a proven solution for oil and gas companies seeking a full ERP system. The release of the Revenue Distribution product will make this offering even more compelling to a wide range of oil and gas companies, from start-ups to those considering SAP or Oracle-based solutions."

"WellPoint's Oil & Gas financial solutions are built based on the experience we have gained working with industry leaders and innovators - our customers," said Richard Slack, President & CEO of WellPoint Systems. "We are delighted that Endeavour International chose our solutions to meet the demands they face daily in the upstream energy industry and to have partnered with ePartners to quickly and successfully implement the system."

About WellPoint Systems Inc.

WellPoint Systems delivers software solutions and services that transform complex data into Business Insight for more than 450 companies in 60 countries worldwide. WellPoint Systems is recognized as a leader in providing Financial, Energy Marketing and Trading solutions to the Oil and Gas industry with its award winning BOLO, IDEAS, Energy Financial Management and Energy Broker products. The company also serves asset intensive industries including aerospace/aviation, process manufacturing, mining, the public sector and fleets with its DAXEAM Asset Maintenance solutions. Founded in 1997, Calgary-based WellPoint Systems is publicly traded on the TSX Venture Exchange under the symbol WPS. Visit www.wellpointsystems.com for more information.

SOURCE WellPoint Systems Inc.