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 3000 energy industry suppliers are on-board and transacting electronically with their customers. Using DO2 Technologies technology, those suppliers are submitting invoices representing more than $5 billion in annual spend.
DO2's supplier network includes a broad range of suppliers, from small "mom and pops" to large multi-nationals, and covers vast geographic regions throughout North America. Suppliers and operating companies use DO2's technology to collaboratively create and manage field tickets and invoices, streamlining the entire invoice process.
Digital fully expects supplier on-ramping to continue at a brisk pace, as its customers aggressively pursue their ongoing rollout plans. Some of the world's largest independents and energy trusts are using DO2's solutions, including Anadarko Canada, ARC Resources, EnCana Corporation, EnCana Oil & Gas (USA) Inc., Enerplus Resources, Nexen Inc., Noble Energy, Occidental Oil and Gas Corporation, and Unocal Corporation.
"Our customers hit their 2004 targets for invoice volume and spend processed through the system and supplier on-ramping is on target for their 2005 goals," said Deborah Close, Executive Vice President, DO2 Technologies. "We have significant supplier coverage throughout North America, from the Gulf of Mexico to Alaska, and current customers are continuing to expand in all North American regions, as well as among multi-national suppliers."
Using DO2's 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