Let us handle the core energy management processes for you
Energy & utilities sector as a whole consists of various industries that deal with the production and sales of energy and utility products. It starts with the extraction of energy sources, refining it into usage composition, and its distribution to its users. As you can see, one requires an efficient energy management by having finest handling of core business processes. In today’s world, one focuses on introducing methods for green energy development. Therefore, you can reach out for compliance as we are a well-known green energy consultancy. In case, your industry deals with oil and gas extraction or distribution, we are one of best oil and gas consulting firms when one talks about accounting, auditing, advisory, and VAT services.
In the case of most non-renewable resources such as coal, petroleum, and natural gas, people need to rely on an industry that can find out and get access to the source. After the source is received, the transportation industry plays its part. As it is moved to a refining plant, numerous industries add up related to material, maintenance, utility, etc. This requires support of external energy management firms such as N R Doshi & Partners, who can look after the financial transactions occurring during the process.
After refining, different products and by-products are developed, which can be used to generate energy. After refining petroleum, products like petrol, diesel, and wax are created, which are distributed. For distribution, the supply chain industry is also linked, which makes the product reach the users. It is mandatory to keep track of the money flow during the movement of the product in the supply case. For that reason, we have hired specialized professionals who have experience in energy accounting.
In the case of renewable energy sources, energy sources such as sunlight, water, wind are readily available. In some instances (for example, geothermal energy), access to the cause requires putting effort.
Even though they are available with ease, they are supported by multiple industries for different energy sources required to convert the source into energy (generally electricity). After manufacturing, distribution takes exists.
After it gets converted into energy, it comes under the utility industry. The supply of water and gas can also be placed under the utility service. For these utilities, our company owns expertise in accounting, human resources, and auditing.
Due to the interlinking of different industries, it becomes tough as well as essential to keep the record of every transaction taking place in the industry. The financial reports created for a custom period should contain the exact data of the company’s assets, liabilities, and owner equity.
However, the energy industry works somewhat different. There can be a loss of source after getting access to it. For instance, the crude oil transported to the refinery can be lesser than the one obtained. The quantity of energy gets reduced with time when stored for a period. Loss of energy may also take place during distribution. There can be various losses that we need to count. Based on that, we arrive at the cost of the items. We have collaborated with oil and gas consulting firms for technical aid to provide accurate accounting solutions and reports.
In the renewable energy industry alone, 11 million people are employed. This shows that a huge workforce is required to run this industry. We efficiently recruit, provide learning and development training, and manage compensation and growth of employees for your enterprise.
Companies working in the energy sector knows the importance of using resources wisely. Our company is the best energy consultant who provides services for better management of your industry. Our resource optimization service aids companies in detecting investments that offer a negligible return. Elimination of such investments helps to generate more profit.
There is not much sensitive information produced in the industry. However, it contains general data about the consumers and company, which can be used by competitors for analytics. That data is required to be safeguarded. If it gets leaked, the company may face heavy losses due to the public release of its work strategy and consumer base. We provide information asset’s risk evaluation, where we check all your systems and storage devices to make sure it remains unbreachable.
As the energy industry directly deals with the environment, compliance plays a major role. On the best, energy consulting firms are efficient enough to conduct compliance. Compliance check, especially for sector dealing with non-renewable resources, is crucial as laws are focusing on sustainable development. Therefore, your industry must perform without or with minimal degradation of the environment. A compliance check is present in renewable resources, as well. Apart from the environment, laws related to safety, pricing, and composition are also present. N R Doshi & Partners, as one of the most proficient renewable energy consulting firms, strives to make your industry work efficiently satisfying the rules and regulations.
Wherever involvement of human resource and environment check comes, the chances of legal issues are high. There are issues related to contract negotiation also. We create new contracts for every need of your company and study the on-going contracts also. We aim to find if there is any breach has occurred, or the contracts are functioning as defined. The experts who work with this service are experienced in gaining the claim your company deserves.
You are just one call away for accounting service, auditing service, and human resources required. N R Doshi has years of experience in these sectors and would be your credible partner aiding you to take your energy industry forward energetically.
How can we help your business grow?
Implementation of our services
Our wide range of services can be utilized by most of the industries. We are specialized in serving the energy & utilities industry, having in-depth industry-specific knowledge. When it comes to companies that deal with the non-renewable source of energy, we have worked with all three types of oil and gas companies: upstream oil and gas companies, downstream oil and gas companies, and middle oil and gas companies.
In the case of the renewable sector, many solar companies in Dubai have received our service. We are expanding our network to companies dealing with other forms of natural resources.
Accounting and Finance
Accounting and bookkeeping are required in every industry irrespective of what goods and services it offers. For the energy industry, our experienced accountants and bookkeepers will keep the complete track of business transactions. We also prepare necessary vouchers, primary books of accounts and secondary books of accounts. Our accountants are well versed with popular accounting software including Tally, QuickBooks, Xero, Sage and Microsoft Dynamics.
We prepare financial reports including income statement, balance sheet and statement of cash flow for the energy and utility industry. We make necessary year-end adjustments like depreciation, bad-debts, adjustments for pre-payments, etc., and make the financial statements ready as per the international accounting standards.
For different countries, the taxation system differs. For Dubai, the VAT system was introduced on the first day of 2018. Food, healthcare, and education are exempted from this system. Our experts will help you implement VAT and file necessary VAT returns with the authorities on a timely basis.
The energy and utilities industry always has a high demand for employees. It is because of the development of new sources of renewable energy and increment in the consumption of non-renewable energy. Though it is easier for beginners for this industry, we will spot the most talented employees for your business.
Based on the industry, the appraisal also differs. With our experts who have years of experience and knowledge about ongoing market trends, your employees will be tracked carefully. Our appraisal techniques assure employees that they get paid according to their hard work.
Our Compensation management service will help you define necessary pay components, additions and deductions and perks. We also take care of statutory deductions and legal requirements as to the payment of gratuity and other benefits. We know the pay package standard of the energy and utility industry. We define and maintain compensation as per the industry trends and skills of the employees.
HR administration covers many of the activities that the human resource department includes. We prepare the policies or enhance the existing once for your energy business. Our primary aim is to deliver satisfaction to both the parties viz., employee and employer. Based on the terms of engagement, we define our scope of work and deliver quality HR solutions.
Employee training and development prepares the new recruited workforce for energy management. They must be familiar with each aspect of your business. We, as your development partners, aim to provide them with efficient knowledge, which would directly positively affect your growth.
We provide software testing service where we check your software for its completeness as to coverage of functionality, accuracy, security, and reliability. Our testing team consists of quality assurance experts who excel at both black-box and white-box testing. We test the software, record our findings, and make a report ready on the reliability of the software. Companies from energy and utility sector utilise this service to ensure that their mission critical software is running and producing results as expected.
Information asset risk evaluation service was initially introduced for the companies that deal with sensitive data such as banking sector and healthcare facilities. However, as of now, it is important for every company that their information assets are adequately protected. We study your IT infrastructure including software, hardware peripherals, networking, firewalls, IT policy, and security policy. We also identify the risks attached to each of these assets. Based on the risk identified and prioritized, we suggest appropriate measures to mitigate and transfer the risks.
The energy industry is growing with the introduction of new ways of generating power from natural sources. We remain updated with the trends and help the companies to implement them in their business. Along with the strategic consulting, we also provide management consulting where our focus is on assisting management wherever it feels outside help is needed. We evaluate business proposals, undertake feasibility studies, evaluate proposals for mergers and acquisitions, assisting in taking capital structure decisions, help in establishing IT infrastructure and provide insightful reports aiding decision making.
This service will help you to detect risks that exists in your business. Our risk management consultants have thorough knowledge of energy and utility sector. They study the overall business processes of your business, IT infrastructure, competition, regulatory requirements and existing controls to identify and detect risks. Once risks are identified, they are prioritized, and suitable risk management strategies are recommended.
We optimize the usage of your resources by planning their implementation. In the process, we also optimize your current business processes and try to reduce wastages. Our process consulting team consists of technical and functional experts who have thorough knowledge of energy and utility sector. They suggest you the ways and means of achieving operational efficiencies and reaching the organizational goal.
As we all know, the energy industry deals with the environment, compliance checks should be done with proper care. We make sure regulatory compliances are appropriately met by the company to avoid fines and penalties.
The UAE offers various free zones which target specific industries. Based on the energy source or the utilities related to your industry, we are going to suggest a suitable location and the business structure for your venture. Our local experts will help you in getting licenses and permits required to run the business.
We help you negotiate contracts with your suppliers and customers. We perform this task for you to clinch a contract at a reasonable price, fair terms and conditions while adhering to the legal formalities.
We provide the prime advisory service, which no other project management consultants in the UAE can offer you. As we have dealt with past clients related to energy and utilities industry, we have knowledge how our advice and suggestions can help your company to grow.
We own the best environmental consultants in Dubai who help us in conducting an accurate feasibility study for your business. As they know the prime technique, legal requirements, and suitable locations, our guidance is all you need to run a business in Dubai.
N R Doshi & Partners has proved itself as the top energy auditing firm by conducting auditing for the clients owning companies associated with different energy development industries. As the energy and utilities industry is dependent on each other, we have earned expertise in utilities industry as well.
Statutory Audit is a task done with optimum responsibility as it is presented to the stakeholders. Therefore, we make sure that a transparent and trustworthy image of the company appears in front of your consumers and shareholders.
Internal Audit is done to find out whether defined controls are working as intended. It is aimed at achieving higher operational efficiency and complying with internal policies and external rules and regulations. We define our audit procedures based on the size of business and our assessment of control risks. Once the procedures are defined, our auditors check if the internal controls are adequately defined and they protect the assets of the company.
Save your energy while running the business!
Let us help you out in handling in your core business processes