Cindy Kelemen
Marketing Director
DO2 Technologies
ckelemen@do2.com
DO2 Technologies Inc., a software solutions company that optimizes financial and operational processes between E&P companies and their suppliers today announced the release of Version 3.6 of its OpenInvoice™ and OpenContract™ solutions for upstream oil and gas. These Internet-based solutions automate and improve invoicing and field ticket reconciliation and contract management processes.
DO2's solutions are being used extensively in Western Canada, the US Rocky Mountains and the Gulf of Mexico. As part of its ongoing upgrade program, many new features have been added to the OpenInvoice and OpenContract tools, further enhancing usability and workflow process management. Of the 400 new items added to the release, major items include the addition of Company Specific Business Rules, support of PIDX XML document standards, and enhanced Credit Invoice functionality.
"With the new Company Specific Business Rules, operating companies now have the ability to configure business rules that govern the coding of invoice line items," states Doug Spackman, VP of Development for DO2 Technologies. "The implementation of business rules greatly enhances the coding verification process and ensures that only valid codes are imported into the various ERP systems. For example, Company Specific Business Rules allow each operating company to define how its own specific coding rules related to AFEs, cost centers and GL coding will be implemented. This makes the whole system significantly more configurable and flexible," Spackman continued.
Another new key feature is the ability to support XML invoice import. This technology allows a digital invoice to be created as an XML document that can be loaded directly into OpenInvoice. This feature saves the suppliers from manually entering invoice data that has already been entered in their own accounting systems, while at the same time, taking advantage of workflow process improvement.
DO2 Technologies has worked closely with operating companies and suppliers to help develop the API PIDX document standards to support upstream oil and gas processes. The new release supports the PIDX RP 3901 XML transactions standards using PIDX formats for invoice document exchange, and RNIF 2.0 for the transport, routing and packaging protocol.
PIDX (Petroleum Industry Data Exchange) is the Electronic Commerce Committee of the American Petroleum Institute (API), the primary trade association representing all phases of the oil and gas industry. Electronic commerce is the exchange of business information between companies using standard formats without the need for manual intervention. Electronic commerce is rapidly gaining acceptance as a means of reducing costs and improving business operating efficiencies in many industries.
Also included in Version 3.6 is enhanced Credit Invoice functionality, providing improved workflows in the browser-based user interface. In addition, Credit Invoices can be transmitted electronically via the PIDX XML electronic standard.
Suppliers and operators in the upstream oil and gas industry use OpenInvoice to collaboratively create and manage field tickets and invoices. The process automation results in significantly reduced costs, while the spend capture and analysis capabilities allow E&P companies to work toward better relationships with their strategic suppliers.
OpenContract is fully integrated with OpenInvoice to further reduce invoice processing time through its full audit capability and non-contracted exception reporting. The combined solution automatically ensures invoices are priced according to contracted rates for every line item.
DO2 Technologies delivers Internet-based solutions that automate and integrate financial and operational processes between E&P companies and their suppliers. Our products simplify complex workflow processes and enable collaboration within and between organizations. Drilling, Production, Finance, Procurement, and Purchasing departments, as well as external service suppliers and partners all use DO2 Technologies solutions.
Cindy Kelemen
Marketing Director
DO2 Technologies Inc.
(713) 260-9693
ckelemen@do2.com
http://www.do2.com