Spend Analytics for Strategic Sourcing
Insights your supply chain team needs to source materials, manage vendors and optimize collaboration between supply chain and operations.
OpenInsights, a spend analytics software solution, provides operators visibility into goods and services spend at a granular level, so you know where every last dollar is spent.
Improve Project Planning
Gain insight on historical pricing information to understand and forecast market bids’ cost.
Decrease Direct Costs
Consolidate vendors to reduce markups applied to similar goods and services by region and avoid non-performance penalty clauses.
Gain visibility into the cost of goods and services across your vendor portfolio to identify primary suppliers and negotiate better terms.
Make Decisions With Current Data
OpenInsights data is updated regularly, meaning you make decisions based on the most timely and reliable datasets in the market.
On-Demand Webinar: Maximize Completions Operational Performance and Optimize Spend
Spend Analysis at a granular level
Analyze goods and services by category and attribute level to identify pricing trends and find new cost-saving opportunities.
Prepare for an integrated RFQ
Evaluate price differentials between different suppliers to identify variance across vendors, outlier pricing and pricing consistency.
Benchmark Price Performance by Region
Trying to reduce costs as a blanket effort is time-consuming and inefficient. Leveraging market indices to benchmark your goods and services pricing to the market by region allows you to find opportunities to improve.
Evaluate pricing by vendors to understand pricing consistency across your supplier network and define preferred vendors.
Solution Overview: OpenInsights
Learn more about OpenInsights, a spend analytics software solution, provides operators visibility into goods and services spend at a granular level. Get the insights your supply chain team needs to strategically source materials, manage vendors, and optimize collaboration between your supply chain and operations.
“The value goes well beyond dollars and cents. The value of the solution is information and knowledge of what we’ve purchase, what we’ve built and what we paid for it—we’ve never been able to get our hands on this spend data before. This is why we are so passionate about the idea and pushed hard. We want to equip our people with knowledge so that we make better decisions.”
Supply Chain Analytics Manager, Large Operator
how openinsights works
With more than 50,000 active oil & gas suppliers submitting invoices and field tickets into our network, and more than $190 billion in industry spend data, Enverus cracked the code on category-specific supply chain data. By analyzing millions of lines of complex, unstructured data and normalizing it through descriptive attributes, supply chain organizations can quickly analyze their own spend data at a granular level to identify where every dollar is being spent — without any tedious onboarding process or IT resources required.
Save time and manage spend with digital price book management and auto-validation of inbound invoice and field ticket data.
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Accelerate payment, lower costs and generate revenue from spend with the virtual card payment solution.
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Accelerate ticket and invoice approvals and payment with cloud-based digital field ticket management.
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Professional Consulting Services
Maximize the ROI of your OpenInvoice solutions with our team of technology and industry experts.
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Digitize and automate invoice processing and approvals with oIl & gas enterprise accounts payable software.
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Lower LOE costs and increase working capital with software that detects and prevents overbilling before payment.
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