Marathon Oil Company has established a seven-year, multi-million dollar agreement with IBM Business Consulting Services, under which IBM will administer select accounting functions, including accounts payable, fixed assets accounting, production revenue accounting and other accounting processes. This initiative, to be put in action in the US beginning August 2004, is part of Marathons business transformation process.
Albert Gadkins, Marathon Vice President, Accounting and Controller, said “Marathon’s decision to work with IBM extends beyond simple cost savings. IBM offers an extensive knowledge base and global experience, which will be coupled with the application of industry-leading best practices, core competencies, efficiencies and technology beyond that which Marathon could provide alone”.
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