Sage > Case Studies > Trican Well Service Hits a Gusher With Sage 500 ERP

Trican Well Service Hits a Gusher With Sage 500 ERP

Customer Company Size

SME

Region

America

Country

Canada

Product

Sage 500 ERP
Sage Fixed Assets module
Project Accounting module
Multicurrency Management module

Tech Stack

Windows NT
Relational Database

Implementation Scale

Enterprise-wide Deployment

Impact Metrics

Productivity Improvements
Cost Savings

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Oil & Gas

Use Cases

Asset Lifecycle Management
Demand Planning & Forecasting

Services

Software Design & Engineering Services

About The Customer

Trican Well Service Ltd is a significant player in the Canadian-based oil and gas service sector. The company provides expert maintenance services for oil and gas wells, including cementing, fracturing, coil tubing, nitrogen pumping, acidizing, and polybore services. These services are utilized during the entire life cycle of an oil or gas well. Trican's clients include industry giants like Chevron and BP Amoco. Over the past five years, Trican has initiated new capital investments in equipment and operating facilities totaling over $143 million. This investment has allowed the company to enhance its existing services and add new technologically advanced offerings. Trican is publicly traded on the Toronto Stock Exchange and is currently expanding into international markets.

The Challenge

Trican Well Service Ltd, a Canadian-based oil and gas service sector company, experienced exponential growth from $28 million revenues to over $182 million in just four years. This rapid growth led to the need for a robust Windows® NT environment, powerful relational database, and a full-featured business solution. The company's existing small-scale information and accounting systems were no longer sufficient to manage the increased scale of operations. The company needed a system that could handle all of Trican’s accounting needs, in addition to providing sophisticated reports and analyses for management.

The Solution

Trican implemented Sage 500 ERP, an end-to-end enterprise solution that handles all of Trican’s accounting needs, in addition to providing sophisticated reports and analyses for management. The Sage 500 ERP Sage Fixed Assets module provides Trican with a subledger for depreciating on a unit-by-unit basis, which is crucial for the company as a significant percentage of its capital is tied up in fixed assets. The Project Accounting module tracks individual equipment units as projects and allows Trican to allocate construction and material expenses accordingly. The Multicurrency Management module translates payables and receivables from U.S. to Canadian dollars and will be used to translate foreign operations into Canadian dollars for consolidation purposes in the future.

Operational Impact

Sage 500 ERP has provided powerful tracking, budgeting, and analysis tools for Trican.
The system has improved the strategic management of capital.
The system has streamlined access and processing of data.
The system has improved the accuracy and reliability of all vital financial records and reports.

Quantitative Benefit

Revenue growth from $28 million to over $182 million in just four years.
New capital investments in equipment and operating facilities totaling over $143 million.