During this economic downturn in the Oil and Gas Industry, it is more important than ever to know your financial situation, break-even points, and COGS. Cogent’s consultant did a great job fixing our Chart of Accounts and going through the entire process with the accounting staff and me. We have a much clearer conception of what we need to charge for our products and what should be included in their pricing.

Our company engineers, develops, and manufactures products for our customers, so there is more than just buying and selling services or parts. Knowing how to allocate R&D costs and report them will be very beneficial for decision-making going forward.

There were numerous tools developed to help us implement and track our costs, and we now have annual budgets with checks and balances in place, to react before it is too late, thus giving us a great advantage in a tight market.

I feel Cogent has done what they promised and has given our company a chance to survive in a market downturn reported to be the worst in 45 years. To put this in context, the oil and gas industry is particularly volatile. Most times it is very good, but as cyclical as it is, we need the tools provided by Cogent to build our company to last through the good times and the bad.

Darcy Wiebe
President
Focus Tools, LLC