Northgate Offshore Services – Cutting the Month-End Close in Half
About the company
50% faster close
Month-end close reduced from ten working days to five across eleven legal entities.
ESG reporting in one place
Emissions and cost-centre data now sit alongside the ledger, replacing a quarterly manual collation exercise.
Audit-ready trail
Every journal and allocation is traceable, cutting audit queries and preparation time.
Location
Aberdeen, United Kingdom
We used to spend the first ten days of every month reconciling spreadsheets. Now the close is done before the end of the first week, and our auditors can see exactly where every figure came from.
Ingrid Solberg
Group Finance Director, Northgate Offshore Services
About the customer
Northgate Offshore Services is a fictional North Sea operations contractor providing maintenance, logistics and inspection services to oil and gas operators. With around 900 employees and eleven legal entities across the UK and Norway, the business manages long-running contracts with complex cost allocations.
The challenge
Northgate's legacy finance system had been extended with spreadsheets for intercompany eliminations, project cost allocations and sustainability data. The month-end close took ten working days, and operators were asking for ESG metrics that the finance team could only produce by hand each quarter.
The solution
FinanSys implemented Infor SunSystems Cloud, using its flexible analysis dimensions to carry project, asset and emissions-category data on every transaction. Intercompany processing and allocations were automated, and a set of standard reports gave operators the ESG figures they needed straight from the ledger.
The results
Within two quarters of go-live, the close had dropped from ten days to five. Finance staff moved from reconciling data to analysing it, and ESG reporting became a repeatable monthly output rather than a quarterly project. The hosted service also removed the burden of infrastructure management from Northgate's small IT team.