The Oil and Gas Industry Needs Innovation

Large organizations in the oil and gas industry are facing industry challenges like volatile commodity prices, ever-tightening regulations, and heightened competition. Nationwide financial reporting regulations dictate a need for fast, accurate, and clean financial reporting on a monthly and quarterly basis. Highly manual, spreadsheet-driven accounting practices found at most oil and gas companies is a significant hindrance to those requirements. Accounting teams are working in disparate spreadsheets that aren’t communicating internally and are rife with errors. This drives up costs in lost time, creates highly stressful, frustrating work environments, and puts you behind the competition. HOC’s accounting process automation services is a deep dive into your systems to understand weak points, update your own infrastructure, and creates an environment that eases the burdens placed on accounting teams worldwide.

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Accounting Problems

We have over 15 years of experience solving complex issues within accounting systems and financial reporting.


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Blog Post:
How To Reduce Your Financial Close Process from Weeks to Days

Accountants face some of the most tightly regulated communication requirements. Audits, data management, and ever-changing reporting regulations have made closing the financial books and long drawn-out process. Many enterprise-level companies still depend on manual data processing to prepare journal entries and complete disclosure reporting. The good news? This is all avoidable.

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Eliminate your dependency on manual business processes and spreadsheets.

HOC is a services-based solutions company built to take on specific challenges facing accounting departments in the oil and gas industry. Its comprehensive consulting services are designed to find gaps and inefficiencies and help busy accounting and compliance teams save time, create more accurate reporting, and stay compliant with complex industry requirements and SEC regulations such as disclosure reporting.