April 7, 2022
Calgary, AB, April 7, 2022 – Calgary-based oil and gas data and software provider XI Technologies Inc. (“XI”) announced today the achievement of SOC 1 type 1 compliance for their AssetBook ARO Manager software module. ARO Manager is a tool that helps companies monitor and report their Asset Retirement Obligations (ARO) to manage end of life commitments for oil and gas assets. The module was granted SOC 1 type 1 compliance in March after a year-long application and rigorous inspection process by leading professional services firm PwC.
SOC (System and Organization Controls) is a certification standard that companies use to validate the trustworthiness of information providers. ARO Manager met this standard by proving that the application and XI Technologies has the appropriate controls in place – for both their business processes and information technology (IT) – to protect their client’s financial data.
“Ensuring our clients have secure, auditable processes has always been a foundational piece of ARO Manager,” says Amber Anderson, VP Operations for XI Technologies. “When our clients store their financial data in our system, they’re putting an enormous amount of trust in us, which is a responsibility we take seriously. So we were excited to work with PwC to verify our processes provided the assurance our clients deserve.”
In addition to SOC compliance, users of ARO Manager can satisfy their auditors and executives with other audit-friendly features such as automatically generated change logs and the ability to compare projects to reveal all changes from one project to the next.
Clients and prospects can request to view ARO Manager’s SOC report via request through XI Technologies.
For more information on AssetBook ARO Manager, visit XI Technologies website.
About XI Technologies
XI Technologies provides the data driven solutions that Canadian energy companies need for informed decision making, competitive analysis, A&D scoping, asset planning, business development, liability management, drilling, operations, regulatory compliance, and risk management.