EC: Honeywell Production Accounting and Reconciliation R200.1

Software - Process applications: Production Accounting and Reconciliation is a statistical data reconciliation software for resolving material and energy balance problems in refining, oil and gas, chemicals and mining industries. This is a Control Engineering 2016 Engineers’ Choice finalist.
October 15, 2015

Honeywell Production Accounting & Reconciliation, Honeywell Process SolutionsProduction Accounting is traditionally viewed as a complex, cumbersome and time consuming process. Key industry trends that exacerbate this situation has been the increasing expectations of churning out balance information faster and with fewer errors, workforce churn, expansions/modifications of the site making the models irrelevant and process data integration and quality issues.

Honeywell, with 20+ years of experience in delivering production accounting solutions, has risen to the challenge of delivering a modern solution to meet the evolving needs of the industry and the result is Production Accounting and Reconciliation—R200.1.

PAR with its state of the art technology platform, intuitive next generation design for faster adoption provides significant enhancements in each phase of the production accounting process thus enabling:

  • Faster balance closure cycle time through use of usability principles in designing dashboards, schematics, production metrics, approval workflows with audit trails, intelligent data validation, custom accounting periods, enhanced reconciliation methods, configurable inventory calculations and navigation driven by reconciliation diagnostics.
  • Simpler configuration and maintenance by providing a graphical builder which helps to modularize the accounting model thereby simplifying the model maintenance and enabling effective navigation. Model versioning and tuning abilities help to ensure that the model is fully tested before being put into production. Bulk configuration through Microsoft Excel templates is supported.
  • Reduced TCO through elimination of need of Oracle licenses, in built operator entry forms for recording movement and inventory; Microsoft Excel based ad-hoc reports, true thin client experience, ability to integrate data from a large variety of data sources as well as support for latest platforms.

PAR takes a giant step towards significantly simplifying the production accounting process, making it far easier to implement, learn, use and maintain.

Honeywell Process Solutions, www.honeywellprocess.com