In this research we try to investigate impact of Enterprise Resource Planning (ERP) implementation on the effectiveness of financial processes in PETROPARS Ltd as a case study in petroleum industry. In this regard, three indicators of Ahituv and Neumann model containing time, content, and format have been utilized to compare traditional systems used in PETROPARS Ltd before implementation of ERP/SAP system. For this purpose, four hypothesis related to financial processes were developed and data collected from 101 employees related to financial processes in PETROPARS Ltd. There were 10 research questions related to the three indicators of Ahituv and Neumann model. Research findings show that ERP/SAP implementation has a positive and significant impact on financial processes effectiveness compared to the traditional systems previously used (before ERP/SAP system) in PETROPARS Ltd. This research contributes to the body of knowledge for investigation and documentation of actual results of ERP implementation in the petroleum industry of Iran. A phenomenon that has not been previously touched.