End-to-end ePayables Solution Enables Oil and Gas Companies to Receive, Code and Approve up to 100% of their Invoices Electronically
DENVER and HOUSTON, June 20, 2013 – Oildex, the innovator of cloud-based smart information management solutions for the energy industry, announced today the release and adoption of its end-to-end invoice processing solution, Spendworks Complete.
Oildex’s solutions help oil and gas companies dramatically reduce, if not eliminate, their need for paper-based processing. With Spendworks Complete, operators can process up to 100% of their invoices electronically, immediately cutting costs and improving efficiencies.
A long-time Spendworks customer recently completed a thorough review of their IT systems, auditing its payables solution against all available providers. At the completion of the evaluation, the company selected Spendworks Complete as the best solution for its current and future strategic requirements. Their decision was based-on Oildex’s stability, data processing assurances and reputation for superior account management and customer support.
“We are certain oil and gas operators will quickly realize the strategic value of converting all of their invoices to electronic processing using Oildex’s new Spendworks Complete solution,” said Richard Slack, Oildex President and CEO. “The rapid customer adoption we are seeing with Spendworks Complete confirms we are fulfilling our mission as the leading smart information management provider to the oil and gas industry.”
About Transzap, Inc.
Transzap™, the parent company of Oildex, provides smart information management and business process automation Software-as-a-Service (SaaS) solutions to over 7,900 companies and 130,000 registered users in the oil and natural gas industry. 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™ and Spendworks Complete™), 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 more information, please visit www.transzap.com or www.oildex.com.
Transzap & Oildex Contact:
Courtney Brewer, Marketing and Public Relations Manager