“ Thanks to Spendworks we’ve drastically reduced the amount of time it takes to process our ever growing number of invoices. Our employees are able to process many more invoices than before. And because of this new level of efficiency, we can now take advantage of early pay discounts which we had difficulty doing in the past. This has saved us a bundle. ”
Williams Production
SPENDWORKS
Oildex's Spendworks is an A/P automation and electronic invoice processing system designed specifically to help oil and natural gas companies improve workflow and productivity. With Spendworks, businesses can process invoices in days rather than months or weeks – allowing them to take advantage of early pay discounts and other cost savings.

Spendworks is easy to use, integrates with all major accounting and ERP systems, and can help oil and natural gas companies dramatically improve workflow while reducing errors and delays.

With Spendworks, managers, engineers, and accountants can quickly and easily process and track the status of all invoices in real time, whether they are electronic or paper, speeding up the approval (or dispute) process. Moreover, Spendworks gives oil and natural gas company owners and managers access to critical spend information with just a couple of mouse clicks, so they can monitor the status of active projects and working capital, gain insight into the profitability of assets, and more accurately forecast cash needs – giving them a competitive advantage.
Invoice
Processing
Discount
Capture
Spend
Analysis
Paper
Handling
Supplier
Network
AFE
Tracking
Centralized
Repository
SSAE 16
Spendworks streamlines the entire invoice handling process – from receipt all the way to approval – so workers don't have to manually enter, route, and code paper invoices. Suppliers just electronically upload an invoice directly into the Spendworks application, where users can electronically code and route it and managers can dispute or approve it. And if vendors cannot send invoices electronically, no problem. Users can simply scan a vendor's paper invoice and then process it using the Spendworks system.
With Spendworks, processing invoices is quick and easy. Whereas manually processing invoices can take weeks, the Spendworks system takes only days (sometimes only hours) to process invoices. And faster invoice processing enables companies to capture more early pay discounts.

Indeed, one of the great benefits of the Spendworks system is that it allows oil and gas companies to take advantage of suppliers' early pay discounts – even going so far as notifying users when an early pay discount is about to expire, so they can be sure to take advantage of it. And those savings can really add up. In fact, one Oildex customer saved more than 10 times its annual Spendworks bill thanks to its ability to take advantage of early pay discounts. See our case study for more information on our client's early pay discount success.
Spendworks enables energy companies to see and monitor exactly how and where they are spending money and allocating resources, in real time, so executives can make better decisions faster. Moreover, Spendworks dramatically reduces or eliminates reporting delays, allowing managers and engineers to deliver more accurate accrual information to key stakeholders throughout the company, improving cash management.
Oildex understands that while Spendworks clients prefer to receive the majority of their invoices electronically, some vendors will continue to submit paper invoices. With Spendworks, those paper invoices can easily be scanned, and then indexed and processed the same way a digital invoice would be. Moreover, companies can choose whether to scan paper invoices using their own equipment, or outsource the management of this process to Oildex.
Supplier cooperation is key to the success of an ePayables system. That's why Oildex created a revolutionary vendor enablement training and support program. As a result of this program, vendors of all sizes can now send invoices electronically to their clients, and get paid faster than ever before. In addition, Oildex provides one of the largest supplier networks in the oil and natural gas industry, giving Spendworks users access to thousands of energy industry suppliers and service companies who send digital invoices.
Oildex's web-based Authorization for Expenditure (AFE) management system, AFEworks, provides energy companies with the ability to electronically create, route, track, and approve AFEs. As a result, multiple departments can easily access AFEs and collaborate within a centralized electronic workspace. In addition, the web-based AFE repository enables users to compare budgets to actual costs.
Spendworks stores all invoice-related information, including field tickets, purchase orders, contracts, and audit history in a centralized electronic repository, which users throughout the organization and auditors can securely access to obtain the information they need when they need it.
All Oildex services are SSAE 16 Type II compliant. Transzap’s Statement on Standards for Attestation Engagement (SSAE) No. 16 report lets customers know the parent company of Oildex and Spendworks is committed to maintaining the highest industry standards and controls when it comes to protecting customers' mission-critical data.
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