W Energy Software has installed its Terminal Management software module at the Phillips 66 Beaumont storage terminal, which will track crude oil and refined products through the Texas terminal.
Phillips 66 now has enhanced capabilities at its flagship storage terminal for inventory tracking, balancing, measurement, and invoicing.
With 74 tanks and capacity to store 16.8 million barrels of crude oil and refined products, the Beaumont Terminal is the largest of its storage facilities, accommodating shipments from pipelines, railcars, and barges. Phillips 66 relied on a legacy software solution to track third-party inventory, however growing customer demand and the need to manage 18 types of refined products and different grades of crude oil created increasing accounting complexity.
Additionally, because customer stock is stored in atmospheric tanks, Phillips 66 needed to account for loss and gain across the Beaumont Terminal’s extensive footprint, requiring complex calculations that vary for each type of crude and refined product. W Energy Software’s solution offered the benefits and support of a modern commercial software product and robust functionality to manage the complexities of inbound and outbound shipments by pipeline, rail, or barge, track third-party inventory, prepare invoices, and precisely balance volumes.
W Energy Software’s cloud-based accounting and transaction management platform tracks the complex movement of crude oil and refined products in and out of the Beaumont Terminal, manages inventory for dozens of customers, and enhances measurement workflows, including manual tank gauging.
“Congratulations to the Phillips 66 team on the successful deployment of our Terminal Management solution and a big thank you for placing your trust in W Energy Software to manage the inventory and accounting for such a critical asset,” said Pete Waldroop, CEO of W Energy Software.
For more information visit: www.wenergysoftware.com