Cindy Kelemen
Marketing Director
DO2 Technologies
ckelemen@do2.com
DO2 Technologies announced the release of version 4.3 of their OpenInvoice/OpenContract product suite. Used by many large independent oil and gas operating companies and more than 1,800 of their suppliers, DO2 Technologies’ products are the most widely used electronic invoicing applications in the industry.
The new release provides more than 50 significant enhancements to the applications. These changes are driven by user feedback, industry requirements and experience gained through significant increases in both invoice volume and spend processed. Current spend processing rates are approaching $3 billion annually.
“DO2 Technologies is committed to supporting our customers’ and the industry’s requirements for a proven business-to-business technology that adds value,” said Rod Munro, President and CEO of DO2 Technologies. “Energy companies are managing their operations more effectively, automating processes more efficiently, while suppliers have significantly reduced the time between service delivery and payment.”
Among the enhancements featured in the new release is support for “PO-flip”, where operating companies provide suppliers with detailed line item POs (Purchase Orders) directly in OpenInvoice. The supplier can then automatically convert or “flip” those PO documents directly into goods receipts and invoices, virtually eliminating data entry, and greatly reducing transcription errors.
The invoice-coding page has also been modified to permit operations analysts and accounts payable clerks to better assist operations personnel in quickly reviewing and approving invoices. Coding personnel have access to more detailed operational and accounting information, permitting more accurate processing and approvals.
Additionally, several modifications have been made to the integration component of the application, enabling more streamlined transfer of documents directly from suppliers’ financial systems into DO2 Technologies’ applications without the need to enter data twice. These include more detailed messaging to trading partners when required, accelerating the addition of multiple attachments to an invoice or field ticket document, and more robust automated document routing to ensure electronic invoices are sent to the appropriate personnel for adjudication.
"The migration from version 4.2 to 4.3 was undertaken with minimal interruption to our hosted service," commented Doug Spackman, VP, Development, DO2 Technologies. "With more than 5000 users, we must ensure they can be up and running the instant the new version is available."
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