OILDEX SUPPLIER NETWORK GROWS A RECORD 37% IN FIRST HALF OF 2009
Oildex ePayables tools allow more suppliers to invoice customers electronically, get paid faster
DENVER and HOUSTON − August 7, 2009 - Oildex, the energy industry's leading provider of digital data and ePayable services, today announced record growth in its supplier network. During the first six months of 2009, the number of suppliers using Oildex's electronic invoice presentment service increased a record 37%, on pace to double last year's record growth.
"We believe the significant growth Oildex experienced in its supplier community is the direct result of advancements we introduced over the last year to our ePayables and EIPP services. These enhancements made it even easier for suppliers to submit electronic invoices to their oil and gas company customers," said Peter Flanagan, the President of Oildex. "We understand that our energy industry customers value their relationships with their suppliers. That's why Oildex has worked hard to invest in systems and people that help suppliers submit invoices through a process that is smooth, simple, efficient, and cost-effective."
"We've been using Oildex to send electronic invoices to our customers for three years now," said Terri Baker, Area Credit Manager for Stallion Oilfield Services. "We like the service because when we send a customer an invoice using Oildex, we always know when it has been received and reviewed. And with Oildex, questions about billing can be resolved quickly and easily, resulting in more timely payment of our invoices."
Oildex's industry leading software-as-a-service (SaaS) tools have helped oil and gas companies reduce their invoice processing costs by up to 75%. Oildex also helps oil and gas companies improve productivity by automating and streamlining the invoice process. In addition to its ePayables and EIPP services, Oildex offers spend analysis and revenue processing solutions, as well as tools for owner relations support and communication.
About Oildex
Transzap™ is the parent company of Oildex, which operates one of the energy industry's largest SaaS-based (Software as a Service) data exchanges, serving over 6,800 companies and 69,000 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), production, and sales volume reporting. Oildex 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 − August 7, 2009 - Oildex, the energy industry's leading provider of digital data and ePayable services, today announced record growth in its supplier network. During the first six months of 2009, the number of suppliers using Oildex's electronic invoice presentment service increased a record 37%, on pace to double last year's record growth.
"We believe the significant growth Oildex experienced in its supplier community is the direct result of advancements we introduced over the last year to our ePayables and EIPP services. These enhancements made it even easier for suppliers to submit electronic invoices to their oil and gas company customers," said Peter Flanagan, the President of Oildex. "We understand that our energy industry customers value their relationships with their suppliers. That's why Oildex has worked hard to invest in systems and people that help suppliers submit invoices through a process that is smooth, simple, efficient, and cost-effective."
"We've been using Oildex to send electronic invoices to our customers for three years now," said Terri Baker, Area Credit Manager for Stallion Oilfield Services. "We like the service because when we send a customer an invoice using Oildex, we always know when it has been received and reviewed. And with Oildex, questions about billing can be resolved quickly and easily, resulting in more timely payment of our invoices."
Oildex's industry leading software-as-a-service (SaaS) tools have helped oil and gas companies reduce their invoice processing costs by up to 75%. Oildex also helps oil and gas companies improve productivity by automating and streamlining the invoice process. In addition to its ePayables and EIPP services, Oildex offers spend analysis and revenue processing solutions, as well as tools for owner relations support and communication.
About Oildex
Transzap™ is the parent company of Oildex, which operates one of the energy industry's largest SaaS-based (Software as a Service) data exchanges, serving over 6,800 companies and 69,000 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), production, and sales volume reporting. Oildex 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