Operators have relied on traditional banks to manage the printing and mailing of checks and supplemental detail. Are they being short-changed? Is there an alternative? The answer is yes! Here we lay out five ways Enverus Print & Mail Services provide a more complete service than banks.
1. A Complete Oil And Gas Specific Owner Support Services Ecosystem
Banks are, of course, just banks. They cater to multiple sectors and though they may claim to have specific expertise in certain industries, their print & mail services tend to be fairly generic. Enverus, on the other hand, is the only company that provides a complete owner relations platform, call center support, and print & mail service focused solely on the oil & gas sector. Our experienced team understands the nuances and challenges associated with delivering data to all stakeholders within the oil & gas ecosystem and–unlike a large bank–we can quickly develop and implement solutions to meet ever-changing regularity requirements (such as North Dakota requirements) to ensure our customers are compliant at all times.
From streamlining payments to coordinating incomes for the IRS, managing check runs, drawing up and sending out acquisition letters, ACH sign-up forms and more, Enverus provides many more services than you would receive from a traditional bank—and all are tailored to the oil & gas sector. The result is strengthened owner relationships, reduced costs, and employees able to focus on higher-value operational activities.
2. Enverus Is A One-Stop Shop
In recent years, there’s been growth in the number of owners and increased complexity in the owner/operator relationship with more documents needing to be transferred, information sourced, and tax data filed. Banks are not equipped to deal with this increased complexity when they only get involved in checks and other supporting financial materials. What about other documents, such as Joint Interest Billings (JIBs)? Why use a bank when it can only address half your needs?
Enverus provides a one-stop-shop to operators, handling all documentation and the corresponding print & mail requirements. Services are also provided from a single platform with our cloud-based Software as a Service (SaaS) solution EnergyLink, harnessing the power of advanced Electronic Data Interchange (EDI) to automate transactions between operators and owners and streamline complex requirements. Enverus reduces the number of vendors managing these services and consolidates them through a best-in-class provider that meets all your needs.
3. Enverus Integrates With Existing Mail House Facilities
Mailing crucial paperwork, such as revenue check detail, and the accompanying data verification and answering of calls can put a significant strain on operator/ owner relationships if not carried out correctly and in a timely manner. Enverus has complete alignment across all operator/owner business processes and built-in integration with mail house facilities. This significantly reduces deployment time for owners and streamlines mailing, reducing costs. Furthermore, platforms like EnergyLink ensure less mailing, given that operator invoices and statements flow electronically to the recipient’s account, significantly reducing or even eliminating mailing costs.
4. Enverus Provides Consistency
Banks struggle with consistency when they deal with different operator accounting systems and templates that are then passed onto owners. At Enverus, we believe that the highest levels of transparency, consistency, and professionalism are required when it comes to managing the operator/ owner relationship. With EnergyLink and our print & mail services, owners will receive all their documentation and statements within a single, consistent, and easy to read custom template.
5. Enverus Drives Online Registration, Reducing Print and Mail Costs
While many banks still generate large paper trails, Enverus is committed to driving online registration and reducing mailing volumes. For example, all new users of EnergyLink receive a welcome letter providing self-registration steps, a user ID, and password. The letter and check statements are mailed to all unregistered owners, helping drive traffic to the website and thus reducing mailing and reducing costs for the operator.
Given the volatility of the oil & gas industry—where activities that impact the bottom line are so crucial—we all need to work smarter, be more efficient in our business processes, and reduce costs.
To find out how Enverus can deliver on all three counts and why our print & mail services are the way to go, click here to learn more, email us at firstname.lastname@example.org, or call us at 1-800-282-4245. Download the whitepaper version of this article here.