Supporting industrial clients
For the last five years, Faithful+Gould has supported industrial clients via our enterprize cost management system, Epoch. Epoch's core role is to help track and control all post-sanction cost, hours, quantities and progress, providing clients with Efficient Predictability and ControlTM.
Predictability and Control
Epoch supports the Control of budget, funding reserves (contingencies, management reserves and supplemental funds), contractual commitments, all types of change and trend, work in progress (WIP), approved spend and accruals. All of this underpins its primary role of helping improve the Predictability of total and time-phased cost forecasts.
As well as these predictability and control goals, Epoch provides clients with significant time savings. These are derived from automatically loading data from multiple intertwined ERP and project controls systems, via our proprietary data ETL process.
The resultant efficiency gains routinely eliminate 20-60% of the weekly workload for a cost engineer.
The resultant efficiency gains routinely eliminate 20-60% of the weekly workload for a cost engineer, permitting a balance of service cost savings and allowing more time to be spent on forecasting and analysis.
Successful users include Michelin, a leading tire manufacturer, and a major oil company. These two corporations have many differences yet they face similar issues.
Michelin presented some interesting challenges. Due to capital expansion in China, Brazil and India, with only one application and database instance, our U.S.-based support function has extended its reach into the Asia Pacific time zones by establishing a second helpdesk in Shanghai.
A major oil company has been a long-standing Epoch user, and the last twelve months has seen adoption extend to all five U.S. refineries. The Faithful+Gould technology allows new sites to easily benefit from their predecessors' investments and developments.
Faithful+Gould's industrial cost and performance management system offers support to all clients with significant maintenance and capital programs. The system's success is based upon considerable client-side study and experience. This led to the development of Epoch to represent best practice governance and control from the client perspective.