Cindy Kelemen
Marketing Director
DO2 Technologies
ckelemen@do2.com
DO2 Technologies Inc., a software solutions company that optimizes financial and operational processes between energy companies and their suppliers, today announced that more than 1200 energy industry suppliers have been enabled for electronic business transactions with their customers, using DO2 Technologies technology.
These suppliers are now able to transact electronically with operating companies throughout North America. Specifically, these suppliers and operating companies are utilizing Digital’s web-based applications to collaboratively create and manage field tickets and invoices, streamlining the entire invoice process. Some of the world’s largest energy companies are using Digital’s solutions, including Anadarko Canada Corporation, EnCana Corporation, Nexen Inc., and Unocal Corporation.
Through an aggressive on-ramping initiative that began in February of this year, DO2 Technologies, in conjunction with its customer operating companies, have on-boarded more than 1000 suppliers this year alone. The on-ramping includes supplier configuration, management of electronic supplier catalogs and training.
“Having more than 1200 enabled suppliers across North America represents a benchmark that no other financial network or service has accomplished, and it is an indication of the value of true collaborative, electronic business,” said Rod Munro, President and CEO, DO2 Technologies. “These companies are not just simply sending a file across the Internet, but are jointly conducting business processes online, using a variety of technical standards, ranging from secure, interactive online browser based document creation through to full ERP system to ERP system transactions utilizing the API PIDX standard.”
The supplier group currently on-board represents the complete breadth of the energy industry both geographically and by service type. Operations areas range from the Gulf of Mexico to West Texas, the US Rocky Mountains and Western Canada. Suppliers include large multi-national organizations providing complex integrated services, regional drilling contractors, major oilfield supply houses, local water-haulers and welders.
Suppliers have seen many direct benefits, including better tracking of invoices, clearer communications with their customers, and a significant reduction in invoice paperwork and processing time.
Using DO2 Technologies’ OpenInvoice® and OpenContract® solutions, suppliers and energy companies automate and improve their processes for managing field tickets, invoices, and contracts. This fully electronic process dramatically reduces processing time from invoice creation to approval to payment providing benefit for all parties. The process automation results in eliminating up to 80 percent of the internal processing time and cost associated with invoice approval and audit.
DO2 Technologies delivers Internet-based solutions that automate and integrate financial and operational processes between energy 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