Three-Way Match Automation
One main goal for GME’s digitalization strategy was automating the three-way match. Due to the many services GME sources, purchase orders were not always fit for purpose but are often necessary for supply chain and accounting governance.
Managing the order-receive-invoice process in one platform ensures consistency for cost objects and GL codes. This means orders can be referenced to field tickets and invoices, saving significant time with automated compliance checks and three-way matches. Also, automated three-way matching allows you to automate invoice payments without manual intervention.
Mary Atkinson, GME’s director of Supply Chain, said:
“One of the things that I’ve found is while the three-way match is an easy concept, it’s very hard to execute.”
After a review of technologies on the market, GME chose to implement Enverus solutions that allow them to manage ordering (OpenOrder), receiving (OpenTicket) and invoicing (OpenInvoice) on one platform.
The OpenInvoice Network
GME saw significant value in the Enverus OpenInvoice network – the large network of connected suppliers already using OpenInvoice and OpenTicket. This was important since the plan was to go digital as soon as possible. This would mean virtually no paper invoices as part of the process and as few paper field tickets as possible.
“With OpenOrder, we have all the information: your cost centers, chart of accounts, your supplier information, your well ID, your AFE number, etc. That information is in the platform already, and it all matches.
When you have a purchase order with approval, with coding upfront, it’s much easier to validate as a goods receipt. Then when a supplier submits an invoice, there is your match right there, all in the same system with the same information.”