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Petrovietnam adopts ERP in operations

The Vietnam National Oil and Gas Group (Petrovietnam) has just inaugurated the first phase adoption of Enterprise Resource Planning (ERP) system at its parent company.

At the inauguration ceremony. Petrovietnam has made ERP implementation a top priority. — Photo courtesy of the company

Recognising the strategic importance of digital transformation for sustainable development, Petrovietnam has made ERP implementation a top priority.

Despite its complexity, the group, in collaboration with NGS Telecommunication & Equipment JSC, successfully launched six ERP modules covering various business functions, from financial accounting, management accounting and treasury/cash flow, budgeting and forecasting to investment portfolio management, financial reporting consolidation and management reporting. The system has been gradually operationalised since March 31, 2022, and is now fully operational as of March 31, 2024.

This achievement marks a significant milestone in Petrovietnam's digital journey, as affirmed by Phạm Thế Trường, CEO of NGS, who pledges ongoing support.

Lê Ngọc Sơn, Petrovietnam's CEO, acknowledged the collective effort in overcoming challenges and emphasised how ERP implementation enhances managerial capabilities and financial governance, facilitating informed decision-making. Looking ahead, Petrovietnam aims to ensure the system's stability, data integrity and security, while continually refining processes and seeking user feedback for system optimisation. — VNS