Digital Oilfield and three leading E&P companies -- EnCana Corporation, Anadarko Canada Corporation and Nexen Inc. – have announced the formation of a strategic partnership to standardize and automate financial and operational processes with their suppliers through implementation of Digital Oilfield's OpenInvoice solution. OpenInvoice is Digital's E&P technology solution for automating the paper-driven invoice process and capturing detailed E&P spend data.
This is a unique partnership, and is the first time that a group of operating companies have worked together to deploy standard technology with their suppliers. The partner companies are jointly preparing implementation plans for their various operating areas, and OpenInvoice will begin rolling out to field locations throughout Western Canada and the U.S. over the next few months.
"It's significant that three key players in the global energy industry selected our technology," said Rod Munro, CEO of Digital Oilfield. "Improving workflow processes related to the processing of field ticket and invoice information will provide tremendous savings for these companies and their suppliers. Another key driver in the formation of this partnership is the added benefit of understanding corporate spend through a common technology platform," Munro added.
Selection of Digital Oilfield as a strategic partner followed a thorough competitive evaluation by the companies. Their analysis showed that E&P companies and vendors can collaboratively create and process field tickets and invoices to eliminate 80 percent of the internal processing time and cost associated with invoice approval.
"We will have a significant long-term benefit, and that is improved collaboration capabilities," said Hayward Walls, senior vice-president and CIO of EnCana Corporation. "Once you have suppliers and operators trusting and embracing the same technology for something as fundamental as tracking, generating and processing invoices, you have established a platform that provides tremendous opportunities for improved industry practices."
"There is an important opportunity for us to streamline our internal processes through implementing OpenInvoice," commented Robert Austin, manager of information technology of Anadarko Canada. "The workflows associated with the receipt, coding, adjudication and approval of invoices are complex and time-consuming. OpenInvoice enables the automation of a significant amount of this process, providing immediate tangible benefits."
"The opportunity to streamline and automate the paper-driven invoice process, creates efficiencies for both suppliers and production companies. It's a win-win," said Grant Utas, director, procurement, Nexen Inc. "The automated coding feature reduces the coding burden, and ensures consistent spend capture information, allowing us to work with our strategic suppliers on operational efficiencies and other savings opportunities."