March 14, 2023
Quorum Software Announces Cloud-Optimized, Next Generation Planning Space for Integrated Corporate Planning, Economics, and Reserves
New Planning Space accelerates business planning workflows with connected data for greater efficiency, transparency, and risk management
HOUSTON, March 14, 2023 – Quorum Software (Quorum), a global software leader dedicated to the energy industry, today announced the newest version of its Planning Space application suite within the Quorum Energy Suite as the only integrated corporate planning platform specifically designed to solve the complexities and challenges of planning in the modern energy industry—leveraging the power of the cloud to help energy companies make better decisions in less time, with the certainty of trusted and accurate data.
“Capital discipline is more important than ever to deploy capital investments that impact emissions and lower costs of supply. To do this, the energy industry requires sophisticated, robust planning tools to move with agility and speed,” said Tyson Greer, Chief Product Officer of Quorum Software. “Leveraging the cloud and unified data architecture, Planning Space enables accelerated and shared decision-making with the intelligence to better align capital, financial, and reserves plus resource planning. Ultimately, companies can now confidently plan faster, with greater accuracy and alignment, to achieve both top-line and bottom-line performance gains, while meeting net-zero goals.”
The new Planning Space provides a step change in performance and scalability with a dynamic planning philosophy that eliminates cumbersome planning cycles, allowing users to maximize productivity and focus on value-added activities.
The suite fully integrates five modules, streamlining business planning workflows with connected data for greater efficiency, transparency, and risk management including: capital planning, financial planning, petroleum and energy economics, and reserves and resource management. Planning Space’s ability to configure standardized inputs and outputs enables efficient portfolio consolidation and optimization, supported by an up-to-date audit trail for greater regulatory compliance and data governance.
Additionally, open APIs provide integration opportunities across the Quorum Energy Suite as well as third-party tools that support extended workflows and processes beyond its core modules.
Key features of the new Planning Space include:
- Consumer-Grade Usability: Leveraging the web paradigm and years of customer feedback, the new Planning Space provides a richer user experience.
- Next Generation Performance: The platform is significantly faster at processing data than its predecessor.
- Scalability: The new Planning Space supports larger, more complex data sets without performance degradation, including concurrent usage.
- Cloud Optimization: Harnesses cloud technology to deliver unprecedented performance, faster access to the latest product innovation, and a lower total cost of ownership.
- Seamless Integration: Enhanced integrations between modules streamlines corporate workflows. Open APIs expose Planning Space to other products in the Quorum Energy Suite and external third-party tools.
To learn more about how Quorum’s planning solution can help energy companies bring all their corporate workflows onto one platform, visit https://www.quorumsoftware.com/solutions/by-name/planning-space/.
About Quorum Software
Quorum Software is a leading provider of energy software worldwide, serving more than 1,800 customers across the entire energy value chain in 55 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty-five years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry-forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.