Storegga Selects New Financial Management Solution to Support its Growing Project Portfolio

By AIT News Desk On May 6, 2021

Progressive TSL to deploy Infor SunSystems with Infor EAM and Infor OS to underpin pioneering CO2 reduction and removal infrastructure

Infor, the industry cloud company, announced that Storegga has chosen a suite of Infor applications — to be implemented by Infor gold channel partner Progressive TSL — to support its development of net zero infrastructure.

Backed by private investment, Storegga is progressing a range of multi-partner, net zero infrastructure initiatives, including as lead developer of the Acorn Carbon Capture and Storage (CCS) and Hydrogen Project in north east Scotland.

Storegga recognised that its rapidly growing portfolio required a robust solution to support its accounting, financial reporting and procurement. This includes provision of accurate, timely financial statements to its joint venture and investment partners.

Key requirements of the new financial management system include:

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Joint venture reporting
Multi-country and multi-currency
Automated cutback process
Automation and administrative efficiency

Storegga selected Progressive TSL to implement the Infor SunSystems, Infor EAM and Infor OS (Operating Services) platform.

Progressive’s implementation of Infor SunSystems, alongside Infor EAM, will provide Storegga with a powerful financial management and procurement solution, with Infor OS for mobile application access and financial approvals on the go. Progressive TSL can also configure Infor EAM to include other features such as Asset Maintenance as Storegga’s operations develop.

“The team at Progressive TSL are excited to be contributing to these pioneering net zero projects,” said Chris Walcot, Progressive TSL’s CEO. “We have much experience supporting energy companies during periods of rapid growth through acquisitions and innovation, where there is need to quickly implement and consolidate subsidiary systems. We are well placed to support Storegga on this journey.”

Jim Perry, financial management specialist at Infor, said, “Infor’s integrated data architecture will provide Storegga with unparalleled transparency and visibility into their business operations as well as accurate and actionable financial reporting. We can support their joint venture accounting needs today, as well as other partner-oriented business models in the future.”