Oildex's JIB Connect allows owners to quickly and easily receive, code, verify, and electronically upload their joint interest bills (JIBs) into an existing accounting software system - reducing coding time by up to 70% and eliminating costly errors. Owners create "smart maps" that cross-reference their internal property numbers, account codes, and AFE numbers to those of their operator. Once maps are created, future JIBs can be pre-coded, automating the process, ensuring coding consistency from month to month, and eliminating routine manual data entry. JIB Connect also allows items to be short paid, and costs can be allocated or rolled-up. And for added efficiency, JIB Connect data can be sent and received in a number of different formats. By streamlining workflow, JIB Connect simplifies the interdepartmental approval process and saves owners time and money.
JIB Connect is built on Oildex's exclusive JIBXML platform. This platform serves as the foundation for the JIB service suite. JIBXML enables operators to provide their working interest owners with rich data in a format that is easy to exchange and upload.
JIB Connect can also be integrated with Oildex's JIB Complete
service. Together, the software provides energy companies with the ability to convert their paper joint interest bills into a digital, uploadable format, so they can process all of their JIB expense detail through a single electronic system.