OpenTAS QCM nominated for Flow Control Innovation Award
07 July 2016
Excel add-in converts quantities for the oil and gas industry
The OpenTAS QCM Excel add-in for the conversion of oil and gas product quantities developed by the Implico Group has been nominated for the Flow Control Innovation Award. The readers of the trade magazine Flow Control have until 31 July 2016 to cast their vote for their favorite.
For almost two decades, Flow Control has honored the ongoing commitment of companies handling liquids by presenting its annual Flow Control Innovation Award. Sixteen solutions made the shortlist this year, among them the OpenTAS QCM quantity conversion tool developed byinternational software and consulting company Implico.
OpenTAS QCM is a highly cost-efficient solution offering reliable and precise quantity conversion for the oil and gas industry. The nomination specifically concerns the solution’s Excel add-in, which primarily addresses companies that carry out several conversions a day. The add-in is currently available as a free beta version.
When trading oil and gas products, quantities often have to be converted into volumes – and vice versa. What makes this difficult is the fact that products’ volumes and densities change at different temperatures and at different ratios. For the purpose of loading processes, billing, safety regulations and calculating taxes, the companies involved in the supply chain need to know the exact quantities and be able to convert them at all times. This is where OpenTAS QCM is a big time saver as users only have to enter the base data, and the software immediately returns the correct quantities for the requested reference temperature.