Many companies in the global energy industry are automating their invoice management and contract management functions through the use of DO2's solutions. DO2 Technologies and the operating companies know that the adoption of this technology has to be a win for both the operator and the suppliers.
"The group works closely with us to provide service and support addressing our specific issues. The system has made it possible for our customers to pay invoices in a more timely manner."
Patty Berg
Manager, Accounts Receivable
Precision Drilling Corporation
So, DO2 Technologies and the operating companies are working closely with suppliers to provide education and training on the OpenInvoice system and to assist them with their workflow processes. OpenInvoice is unique in that it provides as much value to vendors as to operating companies.
This speaks for itself. Unlike EDI or other transaction "hubs", there are no fees for suppliers to use the software. Period.
You don't have to be an IT expert to use the system. All you need is a web browser and an Internet connection. We provide everything else you need. And the system is simple to use, so no need for extensive training courses.
Once you are setup within the system (and, yes, we will help you with that part, too), you are ready to connect to any operating company that uses DO2's system. There is no need to reconfigure your system or use different formats for different operators.
Because the system is on-line, it's instantaneous. Cycle times for invoice processing are typically cut anywhere from 50% to 80%, so that means you'll get paid faster. Here's how it happens.
The instant an invoice is created it is automatically routed directly to the operating company. Reducing Days Sales Outstanding, or DSO (the time between work being executed and remuneration) is of tremendous importance to vendors.
OpenInvoice ensures the document is instantly directed to the responsible personnel. No more misrouting or invoices "lost in the mail".
OpenInvoice ensures that only applicable AFE numbers and Cost Centers can be associated with the invoice. This significantly reduces the number of invoices that need to be re-worked due to incorrect information.
Through the online adjudication mechanism available in OpenInvoice, the issues can be reconciled much faster and a history of the dispute immediately becomes available.
Suppliers can instantly determine the number of outstanding invoices and their aging profiles. Vendors know exactly where in the approval process any given invoice is, and are able to direct inquiries to the person currently responsible.
To Learn More About How You Can
Become a Registered OpenInvoice Supplier:
Contact DO2 Technologies support at (403) 205-2550
or support@do2.com