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Inbound Expense Accrual: A Moving Target

Despite digital oilfield advances, the oil & gas business still runs on paper. This is especially apparent in field operations where the bulk of purchasing transactions take place, including services for drilling contractors, hydraulic fracturing, pumpers, equipment repair, and workovers. There are also a wide variety of tangible costs incurred, such as drilling mud, casing…

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Creating a Clear View of the Expense Pipeline

As an oil & gas operator, financial success is defined by both revenue generation as well as your ability to anticipate daily operating expenses and minimize costs. However, paper-based accounts payable processes, vendor invoicing complexity, time-consuming invoice coding, and manual approval workflows create uncertainty and poor AP visibility. All too often, the result is an…

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