Houston-based Quorum Business Solutions Inc. has entered into an agreement with Shell Gas Transmission and Oklahoma-based Enogex, to license, implement and support Quorum’s contract management system. Contract management is a component of Quorum’s Energy Suite and is an enterprise-wide central contract repository that supports all contract management business processes.
Contract repository
Shell will use Quorum’s system to manage contract information across multiple assets and legacy applications. Enogex will use it to capture detailed contract information and store that information in a centralized repository to facilitate the management of contracts across the enterprise.
Post-Enron
Quorum believes that the central management of contracts and contractual relationships is important in the ‘post-Enron world’ where credit risk and counter-party credit issues have badly hurt the entire industry.
Forefront
With the absence of other software on the market that addresses the contract management issue in a current context, Quorum is in the forefront of this technology, he says. Quorum provides the Quorum Energy suite, a set of software applications for the energy industry that includes TIPS (Plant/Facility Accounting), the industry-standard solution for gas plant accounting.
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