How Technology Is Changing the Way We Track and Transfer Materials in Oil and Gas
It’s no secret that the oil and gas industry as a whole faces challenges in efficiently tracking and transferring materials for use in everyday operations. However, with advances in modern technology these processes are undergoing a remarkable transformation. Still, the overall industry tends to be a laggard in terms of how these technologies are actually […]
Managing by Exception: Harness Automation to Streamline Operations and Save Your Company’s Bottom Line
In the dynamic and demanding realm of the oil and gas sector, keeping spend under control and increasing capital efficiency continue to stand as pivotal challenges. Most E&P companies address these problems by trying to reign in spend, increase process efficiency and improve compliance. But these efforts often fall on the shoulders of operations and […]
Streamline Ordering and Inventory Management With Two Enverus Solutions Made for Oil and Gas
The oil and gas industry is no stranger to uncertainty. Producers contend with a myriad of challenges – everything from supply chain uncertainty, geopolitical shocks, ROI demands from investors and an unpredictable policy environment – so it’s no wonder a big industry focus is on creating efficiencies.
Back Office Automation Tools for Oilfield Services Companies
Being a supplier in the oil and gas business is hard. You must ride the cycle of boom and bust, differentiate yourself in an incredibly competitive market and make sure your financial fundamentals are sound.
Oil and gas procurement automation: End project delays and overspending
Purchase order automation has the power to relieve oil and gas operators and OFS companies of many headaches in the procure-to-pay process. Energy companies continue to manage the procurement process using tedious, manual workflows that result in the same issues over and over — limited visibility to accounting teams on committed spend, duplicate invoices and payments, delayed payment to suppliers, manual verification and matching of documents, to name a few.
Digital Invoicing for Small- and Mid-Sized Operators
“OpenInvoice saved my marriage.” This isn’t a value point you’d see in a typical software brochure. But it’s something a customer shared with us a few years ago. Turns out, this customer was the only accounts payable manager at her job with an independent oil and gas operator. Before her company had implemented digital invoicing […]
Condition-Based Pricing for Oil and Gas Operators
As an upstream oil and gas operator, you likely have various pricing agreements in place with your suppliers. These agreements can range from simple and rigid pricing structures to complex and flexible pricing structures. One specific type of flexible pricing agreement that is commonly used between buyers and suppliers in the oil and gas exploration […]
6 tax preparation tips for mineral and royalty managers
With tax season upon us, mineral and royalty owners face the daunting task of filing for their oil and gas revenue streams. Adding to the unique complexities are the different tax implications and deductions at the federal, state and local level. Anyone who has filed taxes for oil and gas income knows of the most […]
3 price management capabilities to offset cost inflation
1981. That was the last time cost inflation was this high. Cost inflation combined with a weak economy led to what some could argue was the worst recession since the Great Depression. 1981 was also the peak of the oil boom when oil prices were $31.77 per barrel. A period of prosperity for oil and […]
Enverus Learning and Development helps professionals level up job skills
Changing environmental attitudes, job engagement, an aging workforce, new technologies … these are just a few things affecting the energy workforce today. A recent survey of global energy industry recruiters and workers reflects these shifts, indicating their importance for all energy producers, from oil and gas to renewable energy. It’s becoming clear how crucial […]