Case Study: Leading Accounting Software cuts audit prep to 1.5 days and slashes manual accounting time with IFS Excalibur (IFS)

Featuring an E&P company with annual revenue of $100M

An independent exploration & production (E&P) company with $100M in annual revenue faced accounting challenges that made cost control and timely reporting difficult: no centralized, real‑time data access for multiple users, heavy manual work (duplicate data entry, paper searches, report compilation), and labor‑intensive monitoring of complex land and exploration agreements that led to sub‑optimized costs and revenues.

The company implemented IFS Excalibur’s comprehensive accounting and reporting solution to centralize data and automate key processes. Results included a 50–65% drop in supplementary AFEs, audit preparation time cut from one week to 1.5 days, a 75% improvement in JIB productivity, elimination of duplicate revenue keying, large reductions in AP/AR/GL manual effort (GL voucher keying fell from 4–5 days to five minutes), and tighter alignment of budgeted vs. actual expenditures.