OILDEX PROCESSES RECORD $136 BILLION IN TRANSACTION DETAIL, GROWS SUPPLIER NETWORK
BY MORE THAN 40%
BY MORE THAN 40%
Impressive growth illustrates energy industry's increasing reliance on technology to help control costs and boost productivity in uncertain times
DENVER and HOUSTON − April 2, 2009 - Oildex, the energy industry's leading provider of digital data and ePayable services, today announced record transaction levels for 2008. In the period from January 1, 2008, through December 31, 2008, Oildex processed an unprecedented $136 billion in transaction detail. Additionally, the company experienced double-digit growth in its customer base and increased the number of suppliers in its network by more than 40 percent.
"We believe the significant growth Oildex experienced in 2008 is a direct result of energy companies seeking to control costs and increase efficiency through technology - specifically ePayables solutions," said Peter Flanagan, the President of Oildex. "Oildex provides companies with the tools they need to respond to changing business conditions, by automating time-consuming, paper-based business processes."
Oildex's industry leading SaaS (Software as a Service) tools have helped energy companies reduce their processing costs by up to 75 percent and significantly improved productivity by streamlining critical business processes. Oildex services include ePayables and spend analysis, revenue processing, and 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 5,000 companies and 44,000 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 − April 2, 2009 - Oildex, the energy industry's leading provider of digital data and ePayable services, today announced record transaction levels for 2008. In the period from January 1, 2008, through December 31, 2008, Oildex processed an unprecedented $136 billion in transaction detail. Additionally, the company experienced double-digit growth in its customer base and increased the number of suppliers in its network by more than 40 percent.
"We believe the significant growth Oildex experienced in 2008 is a direct result of energy companies seeking to control costs and increase efficiency through technology - specifically ePayables solutions," said Peter Flanagan, the President of Oildex. "Oildex provides companies with the tools they need to respond to changing business conditions, by automating time-consuming, paper-based business processes."
Oildex's industry leading SaaS (Software as a Service) tools have helped energy companies reduce their processing costs by up to 75 percent and significantly improved productivity by streamlining critical business processes. Oildex services include ePayables and spend analysis, revenue processing, and 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 5,000 companies and 44,000 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