Simplify Joint Interest Billing Approvals And Payments

Challenges Handling Joint Venture Invoices

JIBFlow

Process Inefficiencies

Validation exceptions, out-of-band approvals and manual voucher handling for JIB invoices consumes valuable employee time and complicates the monthly financial close process.

JIBFlow

Lack of Consistency

JIB size and complexity warrants different systems and processes for approval and workflow handling, creating fragmentation and inconsistent views of data.

JIBFlow

Complex Audit Controls

Financial approvals and payment processing are audit-sensitive; higher complexity adds cost and reduces transparency.

JIBFlow

High Admin Costs

Supporting different processes and systems for operated and non-operated invoice processing increases overhead and total cost of ownership.

Benefits of JIBFLOW

JIBFlow

Save Time & Money

Reduced time and effort and improved quality of monthly financial close processes significantly lowers total cost of ownership.

JIBFlow

Simplify Processes

Reduce complexity and overhead costs in audit, controls, processes, training and administration.

JIBFlow

Consolidate Data

Fewer systems, integrations and processes means less fragmented sources-of-truth and easier reporting.

JIBFlow

Improve Communication

Decrease inquiries for JIB payment status from operators with ability to see OpenInvoice payment status in EnergyLink.

Red Wolf Natural Resources Significantly Shortens The JIB Approval Process.

JIBFlow

Why JIBFLOW?

JIBFlow
  1. Experience seamless approval workflow for operated AP and non-operated joint venture invoices.
JIBFlow

2. Eliminate manual uploads of JIB data to your accounting system.

JIBFlow

3. Streamline invoice correction and amendment workflow, preserving end-to-end audit history.

JIBFlow

4. Realize efficiencies with enhanced validations against your master data.

HOW JIBFLOW WORKS

With the JIBFlow upgrade, customers gain advanced approval workflows and automation for JIBs with OpenInvoice’s validation and ERP integration capabilities, while maintaining coding and disputes in EnergyLink.

JIBFlow

Learn how JIBFlow delivers a seamless workflow by feeding joint venture invoices from operators in EnergyLink directly into OpenInvoice.

Solution Overview

JIBFlow