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, announced that Enerplus Resources Fund has completed a successful pilot of DO2's OpenInvoice and OpenInvoice Image solutions to automate and streamline their invoicing and accounts payable processes, and has signed a multi-year corporate license agreement.
Enerplus, North America's largest conventional oil and natural gas income fund, selected DO2 Technologies for electronic invoicing and began implementation in October. Since that time, Enerplus has completed a successful pilot of DO2's solutions in its drilling, facility and operations areas including its head office in Calgary. With the signing of the corporate license agreement, Enerplus and Digital will now begin the implementation of OpenInvoice and OpenInvoice Image throughout Enerplus' operating areas in Western Canada.
"We now have a consistent method for processing all incoming invoices, whether paper or electronic," said Wayne Ford, Controller, Operations of Enerplus. "That, coupled with the benefits of electronic invoicing - speed, accuracy and reduced manual processes, for example - will transform our invoice process. Now we will have all invoice detail information uploaded directly into our financial system and can leverage that data in a more timely and efficient manner."
"We worked closely with Enerplus during the pilot phase to ensure that we understood and reflected their workflows within OpenInvoice, since the software is very flexible in modeling various workflows and business rules," said Deborah Close, Executive Vice President for DO2 Technologies. "The Canadian energy trusts are very focused on cost containment, so we are very pleased that we were able to demonstrate significant process improvement during the pilot that will translate to material cost savings as Enerplus expands their implementation."
DO2's OpenInvoice product is the most widely used e-invoicing technology in oil and gas. It automates the process of invoice generation, receipt, adjudication and approval, and streamlines traditional labor-intensive paper-based workflow processes. In addition, detailed spend data acquired through the invoice process can be analyzed to identify inefficiencies and enable improved operational performance.
OpenInvoice Image, an add-on module, enables the operating company to use the OpenInvoice workflow engine, even for those invoices that are still submitted on paper. By converting the paper invoice to a digital image through the OpenInvoice Image module, the same processing, routing and approval workflows that OpenInvoice Professional users enjoy for processing electronic invoices, are now available for paper invoices as well. In addition, cost categorization can be applied to the paper invoices, allowing an operating company to immediately analyze 100% of their spend.
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.
Created in 1986, Enerplus Resources Fund is North America's largest conventional oil and natural gas income fund. Enerplus offers investors the benefits of owning a large, diversified portfolio of income generating crude oil and natural gas properties without the exploration risks commonly associated with traditional exploration and production companies.
Cindy Kelemen
Marketing Director
DO2 Technologies Inc.
(713) 260-9693
ckelemen@do2.com
http://www.do2.com