SAP PRA
Industry SolutionsDefinition
SAP PRA is the Production and Revenue Accounting module designed to address the complex accounting requirements of the oil and gas industry.
Detailed Description
SAP Production and Revenue Accounting (PRA) is a specialized solution within SAP designed to help oil and gas companies manage their production, revenue, and accounting processes. The module addresses specific industry challenges, such as joint venture accounting, revenue distribution, and regulatory compliance. By integrating with other SAP modules such as Controlling (CO) and Financial Accounting (FI), SAP PRA offers comprehensive management of upstream operations, enhancing visibility, control, and efficiency in the production and revenue lifecycle.
Key Features
- Integration with other SAP modules
- Joint Venture Accounting
- Production Management
- Regulatory Compliance
- Revenue Management
Common Modules
SAP Controlling (CO)
Handles cost management and financial reporting for improved internal accounting processes.
SAP Financial Accounting (FI)
Manages financial transactions and ensures compliance with international accounting standards.
Popular Implementations
SAP PRA Implementation at Oil & Gas Corp
A major oil and gas corporation implemented SAP PRA to streamline their joint venture and revenue accounting, resulting in a 25% reduction in processing time and enhanced regulatory compliance.