OILDEX SYSTEM NAMED AS FINALIST FOR THE 2005 WORLD OIL AWARDS
Spendworks ePayables System to be Recognized at International Energy Event
DENVER and HOUSTON − September 16, 2005 - Transzap, Inc, home of Oildex, the energy industry's leading provider of digital data and electronic payable solutions, today announced that World Oil has selected the Oildex Spendworks electronic payables system as a finalist for the 2005 World Oil Best Data Management award. The award recognizes innovative technology that improves business processes.
The Spendworks ePayables system simplifies the tasks of purchasing and paying for goods and services for companies in the oil industry. The paper-free system reduces process costs and boosts productivity, while providing in-depth information to analyze costs and identify areas for strategic improvement and growth.
"The benefits of a 'best-of-breed' electronic payable system are being realized by more and more companies that seek out innovative ways to cut costs, manage growth and track business performance. Transzap is honored that the Spendworks system has been recognized for its technical leadership and the tangible benefits it provides the industry," said Peter Flanagan, Transzap President and CEO.
"The World Oil Awards annually recognize top innovations and advancements in the global oil and gas industry," said Alexandra Pruner, Senior Vice President of Gulf Publishing Company. "We are delighted to announce that Transzap's Spendworks System has been named a Finalist in the Best Data Management category for the 2005 World Oil Awards."
The World Oil Awards theme, "New Frontiers," reflects the new generation of thinking that is seen throughout the exploration, production and development segments of the petroleum industry. Finalists and winners will be honored at the black-tie gala dinner on October 20, 2005. More on the 2005 World Oil Awards is available online at http://www.awards.worldoil.com/awards/index.html.
About Oildex
Transzap, the parent company of Oildex, provides ePayables, eBudgeting, and eRevenue software-as-a-service (SaaS) solutions to the oil and natural gas industry, and serves over 9,000 companies and 200,000 registered users. The Oildex suite of services streamlines operations, enabling companies to shift from paper-based processes to electronic and provides tools for companies to track and understand their transactions in near-real time. Currently available services include: digital and scanned invoice processing (Spendworks™), business intelligence (Trendx™), owner/producer relations data posting (Owner Relations Connect™), check stub reporting (Checkstub Connect™ - CDEX), scanned check stub reporting (CDEX Complete™), joint interest bill processing (JIB Connect™), scanned JIB processing (JIB Complete™), budget creation and approval (AFEworks™), crude oil data exchange (Run Ticket Connect™ - CODE), and production and sales volume reporting. Transzap has offices in Denver and Houston.
For additional information, please contact:
Karey Goebel
Vice President of Marketing
Transzap, Inc.
Office: 303-222-6116
Email: kgoebel@transzap.com | kgoebel@oildex.com
DENVER and HOUSTON − September 16, 2005 - Transzap, Inc, home of Oildex, the energy industry's leading provider of digital data and electronic payable solutions, today announced that World Oil has selected the Oildex Spendworks electronic payables system as a finalist for the 2005 World Oil Best Data Management award. The award recognizes innovative technology that improves business processes.
The Spendworks ePayables system simplifies the tasks of purchasing and paying for goods and services for companies in the oil industry. The paper-free system reduces process costs and boosts productivity, while providing in-depth information to analyze costs and identify areas for strategic improvement and growth.
"The benefits of a 'best-of-breed' electronic payable system are being realized by more and more companies that seek out innovative ways to cut costs, manage growth and track business performance. Transzap is honored that the Spendworks system has been recognized for its technical leadership and the tangible benefits it provides the industry," said Peter Flanagan, Transzap President and CEO.
"The World Oil Awards annually recognize top innovations and advancements in the global oil and gas industry," said Alexandra Pruner, Senior Vice President of Gulf Publishing Company. "We are delighted to announce that Transzap's Spendworks System has been named a Finalist in the Best Data Management category for the 2005 World Oil Awards."
The World Oil Awards theme, "New Frontiers," reflects the new generation of thinking that is seen throughout the exploration, production and development segments of the petroleum industry. Finalists and winners will be honored at the black-tie gala dinner on October 20, 2005. More on the 2005 World Oil Awards is available online at http://www.awards.worldoil.com/awards/index.html.
About Oildex
Transzap, the parent company of Oildex, provides ePayables, eBudgeting, and eRevenue software-as-a-service (SaaS) solutions to the oil and natural gas industry, and serves over 9,000 companies and 200,000 registered users. The Oildex suite of services streamlines operations, enabling companies to shift from paper-based processes to electronic and provides tools for companies to track and understand their transactions in near-real time. Currently available services include: digital and scanned invoice processing (Spendworks™), business intelligence (Trendx™), owner/producer relations data posting (Owner Relations Connect™), check stub reporting (Checkstub Connect™ - CDEX), scanned check stub reporting (CDEX Complete™), joint interest bill processing (JIB Connect™), scanned JIB processing (JIB Complete™), budget creation and approval (AFEworks™), crude oil data exchange (Run Ticket Connect™ - CODE), and production and sales volume reporting. Transzap has offices in Denver and Houston.
For additional information, please contact:
Karey Goebel
Vice President of Marketing
Transzap, Inc.
Office: 303-222-6116
Email: kgoebel@transzap.com | kgoebel@oildex.com