EnCana Oil and Gas (USA)'s operations were largely been formed through the acquisition of properties. This resulted in duplicate legacy processes existing within EnCana's organization.
After thorough research, EnCana discovered that invoice reconciliation was one area where significant potential savings could be achieved through improved processes. The company implemented DO2's OpenInvoice™ solution for invoice process automation.
By utilizing this solution, EnCana was able to reduce payment time and thus was able to take advantage of early payment discounts. Additionally, the company has increased efficiencies, reduced costs and better utilized staff time.
Increase Accuracy and Reduce Payment Time By Automating the Invoice Process
After detailing and analyzing their invoice process, Anadarko Canada discovered errors on up to 25% of invoices. Invoices were often miscoded or mishandled resulting in approval cycles of weeks, or even months. The company decided to standardize and automate financial processes with their suppliers to improve operational efficiency.
As a result of implementing DO2's OpenInvoice™ electronic invoicing solution, Anadarko was able to reduce payment time substantially and dramatically increase the accuracy of invoice coding.