Amalto has added new wins to its existing client roster of well knows names from oilfiled services, such as Complete Production Services, RPC Group, Newpark Resources, Mullen Group, Select Energy Services and Forbes Energy Services, among others. Most of Amalto's gains in market-share have been in mid-cap companies for oilfield services, including prominent Canadian players. With marquee clients such as Chevron, GE Oil and Gas, Total, Amalto is well on its way to becoming the de-facto leader in the B2B integration space in Oil and Gas for North America.
Amalto has garnered analyst attention in the past and was very recently recognized in the “Who's Who in Cloud Services Brokerage”, report published November 2011, by Gartner. Their Cloud-based electronic document exchange solution allows seamless exchange of field tickets, invoices, POs, services requests etc. between suppliers and their customers. Especially for oilfield services, where orchestrating document flow from the field to finance and accounting at the corporate level is inherent in the services model, the solution has been widely welcomed.
Says Jean-Pierre Foehn, CEO, Amalto Technologies, “Hectic M&A activity in the industry has brought on the additional challenge of merging back-office functions. Amalto has enjoyed this level of success because it addresses multiple pain-points – integration of disparate systems, manual re-keying of documents, format and standards compliance and multiple interfaces with marketplaces and customer portals. He concludes, "This leads to increased efficiency and visibility in the accounting process, reducing DSO, increasing cash flows, enabling Early Payments Discounts to add directly to the bottom line”.
Given the healthy growth outlook with rising oil prices, unconventional drilling in North America and multiple opportunities offshore worldwide, Amalto is confident of continuing rapid adoption of its solution in oilfield services.