Pansoft Signs Contract With PetroChina for Treasury Management System
JINAN, CHINA--(Marketwire - 07/09/10) - Pansoft Company Limited (NASDAQ:PSOF - News) ("Pansoft" or the "Company"), a leading ERP software service provider for the oil and gas industry in China, today announced that it has signed a contract to develop and install a treasury management system for PetroChina Company Limited. Development will begin immediately.
PetroChina Company Limited ("PetroChina") is the largest oil and gas producer and distributor in China and plays a dominant role in the country's oil and gas industry. PetroChina and its subsidiaries are engaged in a broad range of petroleum-related activities, including exploration and production, refining and marketing, chemical manufacturing, and natural gas and pipeline operation.
The deal is worth approximately $1.76 million and the project will take three years to complete.
The treasury management system for PetroChina will also incorporate thousands of its subsidiaries and will enable the management of all its resources under one common platform, representing one of the largest treasury management systems in China. The system will control the entire process of dynamic management and monitoring and controlling business flow, capital flow and integrated information flow. In addition, it will strengthen financial management of business-critical functions at control nodes to enhance the efficiency and effectiveness of capital operation and control financial risk to support and protect the company's business. The scope of the project's services includes: providing implementation-related consulting services, configuring the treasury management system software, customization, testing, implementation, systems integration, training, and technical support, among others.
"Pansoft is committed to being a leading enterprise resource planning software and professional services provider in the oil and gas industry, and we constantly strive to provide our clients with superior solutions," said Guoqiang Lin, Chief Executive Officer of Pansoft, "I am delighted that PetroChina has decided to continue its successful partnership with Pansoft on such a critical software platform design, implementation, and training program. The signing of this contract with PetroChina marks another great step for Pansoft through the development of a large-scale treasury management system, which further enhances our leadership and expertise in the oil and gas industry in China." |
