Oil and Gas Company Introduces GL Wand and Reports a Myriad of Benefits

Thanks to GL Wand, EKO Bulgaria achieves vastly reduced reporting times while boosting productivity and efficiency

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Challenge

Bozhidar Pavlov, Finance Manager at EKO Bulgaria EAD, explained that his department had, for a long period, experienced challenges with the sheer length of time it took for them to produce financial reports. Everything from formatting them to extracting new information was time consuming, and when it came to requests they received from management regarding the creation of ad hoc databases, they ran into trouble with both the analysis and extraction of data.

“It quickly became clear to us that we needed a tool that was very flexible and could operate effectively under the conditions we were working in,” Pavlov said.

“We have been using SAP for over ten years and today utilize one of the most advanced SAP versions, yet we still found that creating reports could sometimes take several days to get right. I decided that we needed to find a solution that would be able to show us our SAP data online and that allowed data to be easily refreshed.”

Solution

“My first impression (of GL Wand) was that this solution was really easy to use and took very little training to use effectively. It enabled me to build a structured reporting framework quite easily, and I was thus able to demonstrate to those in EKO who need to know just how effectively the GL Wand tool worked,” said Pavlov.

He explained that in the past, it could take up to an entire day to create and process a single report. Now, it seldom takes more than half an hour.

Pavlov continued, “Moreover, GL Wand is useful across any number of report types, which is key as EKO’s financial department has to produce a wide range of such reports. This encompasses everything from profit and loss reports to balance sheets and changes in equity statements.

In the past, we were forced to build such reports from scratch, because our information was not always structured or arranged in the proper way.”

“In the past, it could take up to an entire day to create and process a single report. Now, it seldom takes more than half an hour.”

Bozhidar Pavlov
Finance Manager

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