Pansoft to develop financial and accounting solution for Sinopec

BVI-registered Pansoft Company Limited made an announcement that it will develop a centralized financial and accounting system for Sinopec – one of the largest oil and gas companies in the word, having thousands of subsidiaries worldwide. Sinopec will use the custom-designed centralized financial and accounting solution to enhance its accounting procedures and strengthen its financial management.
Currently the contract between the BVI company and Sinopec is in the drafting and signing process. Pansoft was involved in drafting the development proposal, which was approved by the Office of Chairman at Sinopec in June 2009. According to the plan of the project approved on July 15 by Sinopec and Pansoft representatives, all system customization and development work will be completed by the end of 2009, and the trial operations and final implementations are to finish by 2010.
Pansoft will develop the solution based on SAP Netweaver platform; it has already developed a similar centralized financial and accounting system for PetroChina, which is now being used worldwide by more than 2,000 of PetroChina’s subsidiaries, and which was highly praised by Vice Minister of Finance of China. The new Pansoft solution will be developed with an even larger scope of applications compared to the one utilized by PetroChina.

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