Make strategic supply chain decisions faster with data in a single source-to-pay platform
In the world of oil and gas, the importance of data and efficient supply chain management cannot be overstated. These elements are the backbone of successful operations, driving everything from exploration and production to construction and sales. Accurate and timely data enables companies to make informed decisions, optimize processes and respond swiftly to market changes. Meanwhile, a robust supply chain ensures that resources are available where and when they are needed, minimizing downtime and maximizing productivity.
In this context, integrating data across the supply chain becomes crucial. Having a single source-to-pay platform can revolutionize how data is managed and utilized, breaking down silos and fostering seamless communication between supply chain, operations and accounting. This integration not only enhances operational efficiency but also supports strategic decision-making, ultimately leading to better business outcomes. During the past year, we’ve been moving ahead full-steam at making holistic source-to-pay a reality. For example, we recently launched our new sourcing solution, Enverus RFx (formerly BidOut), earlier this year. When integrations are completed with our other source-to-pay solutions, users in the industry will get a holistic end-to-end solution set that covers sourcing, contracts, ordering, materials management and ticketing to invoicing.
To delve deeper into the topics of data and supply chain, we had the opportunity to speak with Mary Atkinson, the VP of Supply Chain at Grayson Mill Energy earlier this year. Mary shared her insights on the transformative power of integrated data systems in the supply chain and how they can drive value in the oil and gas sector. Here’s what Mary had to say.
Enverus: Tell me about your role and some initiatives you’ve worked on at Grayson Mill.
Mary Atkinson: My name is Mary Atkinson, and I’m the VP of Supply Chain at Grayson Mill Energy. We are located centrally here in Houston, but we’re an operator up in the Bakken. I think that what we’ve done as far as adding value, increasing production, really localizing ourselves in the community, has been really just an interesting journey and it’s been phenomenal.
Enverus: Can you elaborate on the challenges you faced with system integration and data sharing throughout your career? How does Enverus’ source-to-pay process address these issues?
Mary Atkinson: Throughout my career getting systems, and the data in different systems, to talk to each other has always been the biggest bottleneck. So, I think Enverus’ philosophy of having an entire source-to-pay system being able to hold all the data, and for it to actually be talking to each other from an item master data standpoint, is the probably the most value creation for an end user.
Instead of having somebody extract data from ten different systems, and then put it into a data warehouse and create Spotfire or Power BI projects, it’s a lot easier for everything to be in one platform. So, to be able to extract all the data while building out that collaboration while also interpreting the data correctly – I think that’s probably the biggest value add.
Enverus: How does the time spent on manual data entry and system integration impact supply chain management? Why is having readily available data crucial for strategic decision-making?
Mary Atkinson: Time equals money. So, the less time that you can spend manually entering data or entering data in two different systems or two different places – that time savings could be used for something that’s more value added. And especially in supply chain, data is key to help you make a determination on your strategy. But if you don’t have the data available and you’re spending a lot of your time manually trying to understand, what does this mean exactly? It’s time away from something that you could be doing strategically.
Enverus: In what ways does automation of data and reporting improve efficiency and work-life balance for supply chain professionals?
Mary Atkinson: So, I think that having something that can help you from a time perspective that allows you to work more efficiently and be able to go home at night with your family, and not have to worry about work is really valuable. You know, it’s going to take me that much longer to do the project because we don’t have the automation of data and reporting.
About Enverus Source-to-Pay Solutions
With OpenInvoice at its foundation, the Enverus Source to Pay (S2P) platform streamlines the entire process from sourcing, contracts, ordering, materials management and ticketing to invoicing. With Enverus Source-to-Pay, you get seamless collaboration across supply chain, operations, accounting teams and suppliers while process automation removes bottlenecks and gets rid of manual work, making your operations nimble, efficient and highly effective. With end-to-end transaction history on one platform, Enverus S2P increases spend management and capital efficiency through flexible cloud-based software that can be customized to suit your business.
