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 to both is yes! Here are five ways Enverus Print and Mail Services provide a more complete service than banks.
1. The only owner support services ecosystem dedicated to oil and gas.
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 and mail services tend to be fairly generic. Enverus is the only company that provides a complete online owner platform, call center support, and print and mail service focused solely on the oil and gas sector. Our experienced team understands the nuances and challenges associated with delivering data to all stakeholders within the oil and 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 compliance at any time.
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.
Operators that use print and mail and other owner support services by Enverus work with a team of experts that can provide recommendations, customize services, and provide excellent owner support.
2. Reduce print and mail costs by driving online registration.
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.
Increasing the number of registered owners on EnergyLink reduces the amount of paper mail, driving down associated costs.
3. Save valuable time.
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. Outsourcing print and mail activities frees up more time for your staff to focus on higher value tasks. At Enverus, we have 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.
Outsourcing repetitive, manual work frees up more time for internal accounting and land teams to focus on higher-value work.
4. Increase 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 and mail services, owners will receive all their documentation and statements within a single, consistent, and easy to read custom template.
Less confusion from owners means less phone calls with questions about statements.
5. Have a single source for all your needs.
Using a single platform and provider to manage your data and print and mail needs provides a more holistic, efficient approach to owner support management and reduces total cost of ownership.
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. Are banks best placed 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?
To meet this challenge, Enverus provides a one-stop shop to operators, handling all documentation and the corresponding print and 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. Could a bank say the same?
Using a single platform and provider to manage your data and print and mail needs provides a more holistic, efficient approach to owner support management and reduces total cost of ownership.
Given the volatility of the oil and 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 and mail services are the way to go, email us at [email protected], or call us at 1-800-282-4245.
