Reduce DSO and save time and resources with our order to cash solutions for the oil and gas industry.
Oil and Gas vendors face a very high DSO, on average. More than 80 days is not uncommon in this industry. Both Oil and Gas operators and vendors have embarked on automating their business document exchanges by developing standards such as PIDX to improve cash management, increase financial visibility, and improve regulatory compliance.
Three Elements Impair the Order to Cash Process
Oil and Gas industry vendors face these ongoing challenges:
- Frequently lacking a purchase order
- The paper-based field ticket process
A field ticket is the mechanism a vendor uses to capture services delivered in the field.
- The specific requirements of each buyer
Amalto's Oil and Gas Vendor Solutions
Equipment and service providers on the vendor side can benefit from Amalto’s solutions to improve their accounts receivables through invoice automation and field ticket automation, and more globally, their Order to Cash and logistics processes using fewer resources to reduce their DSO and increase customer satisfaction.
By adopting the fully-managed Amalto e-Business Cloud, vendors can:
- Send invoices and supporting documents directly from their back-end systems to their customers without re-keying data
- Get their invoices delivered quickly and securely
- Reduce the number of rejected invoices to zero
Automated B2B Exchanges
Amalto has connected vendors to more than 150 oil and gas operators, either directly or associated with hubs such as Oildex, Cortex, Ariba and more. We will complete the automation of your B2B exchanges in record time, involving only limited internal resources. In addition, by constantly monitoring the flow of transactions with your Trading Partners, Amalto gives you full visibility of your accounts receivable transactions, including through our iPhone and Apple Watch apps.
Oil and Gas Field Ticket Automation
If you are an oilfield services provider and your services are mainly delivered in the field, Amalto has solutions to manage the field data capture portion of your Order to Cash processes. By repatriating field data seamlessly to your back-end system and consequently reducing your time to invoice by 10 to 15 days, Amalto can help you easily transition from paper-based field tickets to e-field tickets. Your business benefits from an end-to end integrated digital process from field to finance , positively impacting both your cash flow and resource allocation.
Amalto's Oil and Gas Operator Solutions
Operators can benefit from Amalto’s Supplier Community to exchange various business documents such as requests for quotes, purchase orders and invoices with their own network of vendors in a private, secured and fully-customized environment. For smaller vendors not willing to deploy sophisticated B2B technology, the Amalto solution provides a very efficient way for operators to fulfill their corporate responsibility with local vendors and deliver fully-compliant electronic documents.
Better Business in Oil and Gas Starts with Automation
Whether your business is an Oil and Gas vendor or operator, automating your Order to Cash or your Procure to Pay processes can make you more competitive. Contact Amalto today to gain your edge.