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Background

 Leveraging the leadership team’s deep energy industry experience and building on strong relationships with oil and gas producers in the region, Oryx Midstream is focused on developing, acquiring, owning and operating midstream assets in Texas and New Mexico. After a rigorous software evaluation, Oryx chose Sage Intacct over both Sage and Quorum as a better fit for the company's business needs.

Previous Business Challenges Faced

  • Oryx needs a system that could scale to match the company's pace of growth.
  • The company requires both sophisticated project accounting and fixed assets capability.
  • Timely and accurate reporting, and the ability to consolidate entities were identified as key requirements.

Reasons for Selecting AcctTwo and Sage Intacct

  • Sage Intacct has sophisticated project accounting functionality.
  • Sage Intacct provides the ability to integrate a robust fixed assets module.
  • Sage Intacct provides Oryx Midstream with the real-time accurate reporting and mobile access they need to keep management and investors up-to-date.

Key Reasons Oryx Chose to Move to Sage Intacct over Sage and Quorum

  • Oryx was looking for a true multi-tenant cloud-based accounting solution, a feature not available with Sage or Quorum products.
  • Sage Intacct's workflows were found to be more flexible and configurable than those available with competing products.

Highlighted Comments from Oryx Controller

"We were doing everything manually before, so moving to Sage Intacct's automation, project accounting, and fixed assets capabilities has been a huge win for us." said Karen Russell, Controller at Oryx Midstream. "AcctTwo provided us with the knowledge and solid project management that made the implementation a great success."

Return on Investment

  • Payback Period of 5 Months
  • Year One Net Benefit - $33,670
  • Three Year Net Benefit - $151,810

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“Moving to Sage Intacct's automation, project accounting, and fixed assets capabilities has been a huge win for us."

- Karen Russell, Controller, Oryx Midstream Services