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.
Oil and Gas industry vendors face these ongoing challenges:
Equipment and service providers on the vendor side can benefit from Amalto's solutions to improve their accounts receivables through invoice automation and field data management, 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:
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.
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.
Operators can benefit from Amalto's Trading Partner 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.
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.
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Fully Managed B2B Integration Solution
See our solution that enabled all suppliers to quickly and efficiently submit invoices electronically.
Our solution performed invoicing automation between multiple ERPs and customers, directly or through hubs.