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P2's BOLO software helps energy companies with financial management, land/lease management, production tracking, asset tracking, and Sarbanes-Oxley compliance. Designed for the Oil and Gas industry, BOLO is the back office solution that automates complex business process requirements. BOLO delivers increased efficiency by allowing departments to share, access, and manage data throughout the organization.
Provider
P2 Energy Solutions
Located In
United States
Foundation
1999
Open API
Unverified
Deployment
Cloud, SaaS, Web-Based
Training
Webinars, In Person, Documentation
Support
Chat, 24/7 (Live rep)
On-premise and cloud-based platform that helps businesses of all sizes streamline accounting processes with auditing, compliance regulation, production tracking, land management and more.
Content Source: P2 BOLO
Green rating bars show the winning product based on the average rating and number of reviews.
P2 BOLO Reviews
"Cheap alternative to powerful systems"
Pros: This is not great software but cheaper alternative to costlier systems and easy to setup chart of accounts!
Cons: Mediocre support, outdated technology, not exactly user-friendly, tough to setup integrations without purchasing Welland
"Intuitive Software / highly efficient"
Overall: BOLO uses a 3D database instead of a normal 2D database like Oracle or SAP uses. This enables JIB and revenue processing to be handled much faster and with less IT assets (RAM) than SAP. This database is used by Target and other companies that deal with many transactions at once. It is an integrated product that handles production, division orders, lease management, asset tracking, revenue and JIB monthly processing, SOX compliance and financial reporting all in one package. It is substantially cheaper and faster than Oracle or SAP because of the underlying database structure which is a multi value database. The only "bad" thing about this software is that it takes a while for your IT department to understand the new database syntax. In my opinion, there is not a better solution out there for companies with 10-40,000 wells.
"Don't buy this software. Customer support is there to try to bill you for work"
Overall: If your company has this software, try to get rid of it.
Pros: It uses Unidata which is rather easy to create queries of the data without much knowledge of writing queries.
Cons: Customer support is constantly trying to bill you for everything that they have to do. Queries can't be created to produce balances by account, legal entity, cost center and period. This means that you won't be able to bring data into most OLAP databases or CPM software like OneStream.
"BOLO - You'll be sorry! Run Away as fast as you can."
Pros: I can't think of anything I like about this software. Simple task are complicated to execute on. Very outdated software package.
Cons: It's so outdated! It's like running DOS again. Not user friendly at all. The training is crucial in order to just learn basic things. And you could hire someone else to run it. I'm very disappointed in BOLO and would never recommend it to anyone.
