Invensys Yield Accounting: Improving Customers’ Bottom Line

To remain profitable in a competitive marketplace, customers can trust Invensys’ Yield Accounting Solution for accurate financial assessments and tracking.

In the face of a tough economic climate, Invensys customers in refining, petrochemicals and processing cannot afford giving material away and incurring monetary losses due to internal error. Even a small percentage of unaccounted for material adds up during the course of a year and is likely to have a negative impact on a plant’s bottom line. Yield accounting, which closes the material balance by ensuring accurate tracking and financial assessment of receipts and shipments, may increase profitability in a facility by USD $ 4-5 million annually.

A variety of yield accounting solutions on the market today provide the necessary assistance in closing the balances. However, primary issues such as data quality, data reconciliation, and integration with data sources, have been reported with many of these solutions. 

Invensys Yield Accounting: Simplifying the Process 

To address the problems associated with many other solutions of its kind, Invensys designed a robust Yield Accounting solution integrating ErrorSolver, a third party yield accounting software, with Invensys’ existing Off-sites solutions. The end result enables customers to reduce the work time in half associated with reconciling and closing the balances. Data does not have to be imported by multiple sources or manually entered. This direct integration thus lessens the implementation time and eliminates a source of errors that arise from manual entry of tank and movement data.

Our solution leads the competition with its highly flexible and easy-to-use graphical modeling environment, automated gross error detection, composition tracking, and data reconciliation performance. Customers are now armed with the critical components to optimize performance in their workplace.