Outdated modes of data entry that involve manually keying numbers into a spreadsheet, for instance, still exist. By automating the exchange of business documents with suppliers, oilfield companies can reduce operating costs, manage spending more wisely and expand their supply base. To compound the issue, a large part of the oil and gas industry also still runs on paper. Other factors like illegible handwriting and incorrect bill rates contribute to invoice disputes as well. High production and global economy stimulation The positive supply shock can trigger other factors like increased economic activity and greater employment rates. Yes, all participants in the E-Ticket Exchange have access to a web-based portal to view field ticket transactions, which offers additional features for managing field work, purchase orders, and invoices. The report forecasts a 1.5 percent increase in business spending that will add billions to the global economy.
Win more and bigger clients by looking innovative. FAT FINGER does not require internet connection thus it allows the field crew to perform their tasks, alter the tickets accordingly, record any necessary field data and attach documents or photos. All Rights Reserved
What types of transactions does E-Ticket Exchange support? DSO or the average number of days required to collects payments after invoicing helps operators ensure a streamlined and efficient job-to-invoice process. Digital technology helps oil and gas companies compress and standardize disaggregated operational supply chain processes. Manage inspection efficiency remotely or from the oil field with FieldEquips inspection management software. The industry-wide adoption of IoE is so strong, in fact, that it can boost the gross domestic product (GDP) by up to 0.8 percent, or $816 billion, by 2025. 
Service companies and oilfield equipment manufacturers face a similar burden because they need to manage and budget expenses. These tickets could end up with the consumer for approval before conversion into invoices. 
Im sure youve heard at least one person in the officemention the idea after somebody entered the wrong information in terrible handwritingor spilled coffee all over a clipboard, but is your companyready to make the leap? They also allowfor real-time oversight. Double handing, inconsistent service what else could the team be doing? Get access to the digital field tickets in real-time with FieldEquip. The alert system is able to filter notifications according to crew, client, office and business segment. Check out AR Financing for Oilfield Services companies. For more information and details on how to join the PDS E-Ticket Exchange, please contact us. This lack of standardization creates challenges when transferring, converting, and processing information. Paper-based methods reduce the ability of a company to plan for the future since it often results in delayed and inaccurate information. The lag time in document processing and data exchange forces companies to work on past mistakes instead of planning for the future and staying competitive in the market. Broader networks lead to a higher potential for and scale of operational efficiency. Where would you even start on a project like that? By moving to an industry standard format, we can reduce errors and eliminate inefficiencies throughout our operations. These alerts can be customized according to time, user or purpose. Automate work order process from quote to invoicing using FieldEquips quote-to-cash abilities. The cloud-based app solution fosters a customized workflow to define tasks and manage business operations. Oilfield services adopting the right technology can unlock tremendous value and stay financially strong, in spite of the changing global supply and demand trends. Copyright 2022 PDS Energy.
When it comes to using technology that speeds up business operations, however, the industry falls short. FieldEquip helps digitize the contract for keeping all essential documents in one place so that invoicing becomes rules driven. What happens when the guys in the field are off the grid? Axon Software completely integrates all of your management systems so that nothing will slip through the cracks. Our intelligent systems engineering approach, oil and gas industry expertise, and ability to execute create value and mitigate risks for our clients. They play a crucial role in the supply chain because they document transactions and help vendors and other companies stay on track of delivered products and services. These innovative approaches, as well as the growing demand for oil, are encouraging E&P companies to focus on operational efficiencies and capital to reduce costs.
Research shows, however, that a lengthy, handwritten process is prone to errors and fraud. New technology has the ability to resolve these costly and time-consuming mistakes while enabling oilfield companies to improve operations, reduce costs and make data management easier. Other than improving your business operations, it can also increase cash flow, improve invoice accuracy, promote contract compliance and reduce labor. Reduce DSO and improve cash flow with fast, affordable invoice funding. Slash your oilfield trucking companies admin work in half with the ONLY oil and gas software that is totally integrated in real-time, meaning that information entered anywhere in the system automatically and instantly updates your dispatch, billing, driver pay, fuel management, fleet maintenance and accounting with a single entry. A study by Cisco, a worldwide leader in IT and networking, reports that technology and intelligence from data can help drive growth and improve operational processes. Best software development company in Houston. So when you get an Accounts Payable Invoice for a fuel bill, you could end up actually having to handle that invoice 2, 3, or even 4 times, if you need to apply it to a units history, an owner-operators charge back, and/or a fuel tax report. In fact, it could take22 days or more to process a field ticket into an invoice. By adopting paperless ticketing, midstream companies save significant time and money while operators gain instant access to crude oil sales data and other transactions, including water disposal. Some best practices that can help mitigate supplier pricing issues include better internal communication between teams within the first two weeks of contract signing. Book Your Enverus ESG Analytics Preview Today, Invoice Expediting Oilfield Services Suite, LEARN HOW PAPER FIELD TICKETS HOLD BACK YOUR BUSINESS, Related Enverus Oilfield Services Solutions. The extended processing of a paper ticket could also lead to higher operational and labor costs. On top of that, operators neglect to approve price sheet workflow within two weeks. We are here for our clients in minutes, not days. An alert system is integrated into the FAT FINGER platform to allow users create text or email alert notifications. All we can do is guarantee you this: When you make full use of Axon Software for the oilfield trucking industry, you will save more time than you would with any other combination of oilfield software or petroleum dispatch software products on the market. Try FAT FINGER today and save on time, resources and money. As a result, it drives the workforce efficiency and streamlines business operations. These networks create value within the oil and gas context by allowing faster decision-making, reduced operational costs, and better use of assets. Paperwork or manual handling of documents can increase the chances of error and can consume valuable time. Copyright 2022 SEE Forge creators of FAT FINGER Inc. | All rights reserved. We were dealing with a complex software project with a tight deadline. Oilfield companies use tickets to keep track of everyday operations and product transfers. In fact, they can now access deeper waters, unconventional plays and remote reservoirs. Business operations still stuck in outdated modes of data entry risk cost and efficiency. The alert system in FAT FINGER improves customer service, cuts unnecessary fuel cost and strengthens communication among the firms personnel. Copyright 2022 RigER Inc. Connect your office and field workers instantly. One major problem we face as an industry is how vendors, service companies and operators continue to use proprietary systems with different data formats and definitions. The oil and gas sector provides entrepreneurs with various opportunities. . Is typing handwrittentickets & reportsinto Excel enough for us for now? Imagine everyone on your oilfield services team can work anytime, anywhere sharing operational information efficiently not only when they are online and but also when they work in remote offline locations that is how a field ticket software works. Create monthly, quarterly, or yearly inspections & maintain historical data for any safety audits to manage business processes with more automation & user-friendly interface. It enables field personnel to record the inspection data digitally through the IoT edge gateway. Additionally, paper tickets are also expensive to route from one person to another. In addition, Entrance serves the technology and business consulting needs of Midstream, Downstream and Services segments of the energy value chain. How you use the time we save you is up to you. For example, when you download fuel bills from one of your fuel suppliers, with the push-of-a-button, your Fuel Tax reporting, Accounts Payable, Owner-Operator Payable, Equipment files and Financial Management Systems can be updated instantly! Say goodbye to lost tickets, errors and approval delays. Use your valuable time and available insights to focus on growing your business. A higher consumer demand An increase in the supply for oil will lead to a subsequent rise in consumer demand by 3.7 percent as prices continue to drop. Contact us today to schedule a free demo. ETX can receive tickets for crude oil, water, rejects, split loads, sand, oil-service hot shots, or any other oil service transaction. As various basins ramp up production and the amount of oil and produced water that needs processing increases, it is becoming clear that inefficiencies persist throughout the upstream and midstream sectors. RigER integrates with accounting (QuickBooks, Sage 50) and ERP (MS Business Central, NetSuite, etc. This system can be used to notify personnel (accounting, sales, field or operations) of any new developments. Get access to complete customer context by sharing the work order information between teams or clients. FieldEquips built-in feature converts & customizes quotes into work orders with just a tap. Im a service provider, how do I send my data to the E-Ticket Exchange? We dont keep our customers waiting. Unlike other industries, however, it is slow to adopt technological innovations.
In fact, mobile is the preferred platform for accessing E&P data and taking advantage of cloud computing and networks. Processing paper documents fails to add value or produce profits the way other methods can. Measurement of Key Performance Indicators (KPIs), Monitoring to Support Outcome Based Service Contracts, Proactive Notifications to Service on Critical Faults, Industrial Equipment Manufacturers (OEMs), Commercial HVAC and Refrigeration Services, Commercial Third-Party Service Contractors. This helps stakeholders maintain a record and access the updated information of a worker and even track them in real-time. Experts believe they can start by deploying digital solutions in areas that would lead to a short-term impact on cost curves and deliver immediate results. If youd like to get in touch, our contact page will give you all of our information. We have tried offshore solutions in the past and the value of having a domestic team made all the difference in the world. The receipt for the work would be the first field ticket in the industry. | Houston: 1-800-987-1086, FAT FINGER: Customized apps to improve asset reliability & workforce safety, Supermajor Asset Reliability & Contractor Management, Health Safety Environment Quality JSA / JHA / Obervations / Incidents / Spills & More, Tool Box Talk, Shift Handover & Safety Meetings, Waste Management Electronic Manifest / Bill Of Lading (BOL). The manual handling of documents is time-consuming and error-ridden.
It can flow through to all of the places you need it. Paper billing and record keeping is the traditional approach to running a business in the oilpatch. If your company has a proprietary, custom built solution, PDS will integrate directly with your systems via web service or FTP data transfer. This feature also makes sure clients and personnel are updated at all times. FieldEquips mobile app enhances team collaboration by tracking field technicians via mobile notifications for better decisions and increased efficiency. The oil and gas sector is going through a rapid digital transformation. Often, companies with high DSO use slow, outdated, paper-based field ticketing systems. We believe that information is an oil and gas firms largest untapped resource. Nate and his team were able to digest the project quickly and make numerous suggestions. The PDS E-Ticket Exchange is a professionally managed digital field ticket collection and distribution service that automates the transfer of data between logistics service providers and oil & gas operating companies. The real-time work-log dashboard tracks and manages resources anytime, anywhere, even when there is no internet. Desktop or mobile, online or offline you can always create, edit, approve and sign your field tickets wherever you are. At present, a majority of oilfield companies, including some of the major operators, continue to follow the same pencil-and-paper process in some part of their business.
After drilling a well in Titusville, Pennsylvania, they discovered it kept filling up with water. Field operators can now generate an error-free invoice by digitally updating the correct customers details. All rights reserved. When the field workers return to an area with reliable internet connection, they can sync their Smartphone, tablet or computer to avail the information for invoicing. How much revenue are you not capturing from ticket leakage? Manual data reports also prevent the spread of accurate, real-time information, making it difficult for managers to make accurate decisions about their business. Manual systems and paperwork result in a high DSO because of slow and unnecessary clerical processes involved in paperwork. Entrance designs and builds insightful software solutions that unlock the value of information assets. The platform enhances record keeping and reduces errors in invoicing and job quotes. Gives operators and haulers a single point of contact for all field tickets, reducing the number of individual integrations required to share ticket data. In fact, there have been significant changes through the years due to the business imperative to use computers in processing information. Create, review and submit digital field tickets for faster ticket approval and invoice submission and significantly reduced DSO. Choose a package based on your business goals. Paper-based field tickets lead to a higher number of days sales outstanding (DSO). RigER offers 110+ reports: from equipment utilization, location history, field tech jobs, to rental fleet maintenance, employees hours, and more. When we were looking to have custom software developed we interviewed many companies. Harness the power of a single unified system where every application is completely integrated with each other. By transitioning to electronic field ticketing, oilfield companies and facility operators can reap the following benefits: Electronic field tickets free operators from the burden of completing, organizing and reconciling paperwork. Missing and slow invoicing is a thing of the past with our oil and gas accounting software for oilfield trucking, well servicing, pneumatic trucking, frac sand, water hauling, vacuum trucks, rig and crane movers. Process compression can help oil and companies drive down operational costs and improve how they respond to market changes. Time you can use to develop more business, provide better services to your customers, use to plan, reflect, and make better business decisions or perhaps go golfing, or be with your family. Texas Electrical Contractors License #29723, SitePro Launches SitePro Operations Support (SOS), an Outsourced, 24/7, Monitoring Service for Remote Field Operations, Field Ticket Reconciliation Made Easy [Video], SiteTicket: Advanced Electronic Ticketing Operations. They can create real-time data analytics and customized reports to track, measure, and analyze field operations processes. Immediately save operational costs and discover powerful data insights by building your own workflow in seconds. In addition, the solution provides full transparency into field operations by connecting every field equipment asset and worker to the back office for better business decision-making. You can use our software through local access control at a facility or via our cloud-based app. These field tickets confirm the delivery of goods and services and provide an estimate of costs so companies can track their daily expenses.
Real-Time Fully Integrated Oilfield Trucking Software will save you hundreds of hours of wasted data entry. This entails allotting a specific period between operators and suppliers for pricing validation. Great experience! Cant find the company man to sign, day outstanding too long? Its the way we do business now., AXON SOFTWARE SAVES A MINIMUM OF $200,00 A YEAR IN WAGES, Youre looking at a minimum of $40-50,000 a year per person, so 5 to 10 people extra would be a considerable amount of money per year., Copyright 2022 AxonDevelopmentCorporation. Im an operator, how do I receive my ETX data? How can oil and gas companies manage the influx of new digital applications when they also need to keep costs low? Digital ticketing solutions move everything online to speed up field ticketing operations. He founded Entrance in 2003 after working as a software applications manager for Spinnaker Exploration prior to its acquisition by Norsk Hydro. But the E&P industry and computer technology have a history. Electronic field ticketing helps companies achieve better operational efficiency. This website uses 'cookies' to give you the best, most relevant experience. Your data will then be delivered by e-mail, FTP or directly into your back-office system via our API. Not winning contracts because you look unprofessional & outdated. Without real-time visibility into supplier spending habits and a repository for critical information, it becomes harder to document data, reduce DSO, and increase cash flow. Oilfield Services Suite software solution for OFS companies offers FieldTicket option, enables field service providers to get paid faster. All rights reserved. A majority of oil and gas companies run independently that is, advances in technology and engineering still exist in silos and are not disseminated and embraced by the industry properly. For instance, an oilfield company supplies services to various stakeholders, including operators, joint venture partners, contractors and more. In case of no Internet or cellular connection, field technicians simply enter needed data into RigER mobile app in the offline mode and then when Internet is available the updates are synchronized with the main ticketing software Cloud database making the data available to everyone in the company for follow up actions. Oilfield Services Suite also seamlessly integrates with OpenInvoice and OpenTicket. The foundry insisted that the pair immediately pay for the steel, which would later on be known as the first casing string issued at a well site. Blind to trends and frustrated that you cant access critical information. Let us guide you in switching to an automated electronic field ticket system so you can generate higher profits for your business. Using this website means you're Ok with this. Bring Real-Time Operational Visibility & Monitoring to Business Process. In RigER you can generate and manage any type of oilfield tickets you need in your daily operations: Rental, Field, Sales, Internal Job, Maintenance, Subrental, Repairs and more. Customized visual ticket dispatch and fleet management software help you map and track assets to streamline communication and work schedules. Ticket Management Systems: How Paper Tickets Are Costing You Money, they cannot keep up with the volume of information and demand throughout the industry, 22 days or more to process a field ticket into an invoice, worlds first snake-like underwater robot, 2012-2021 SitePro, Inc. - All rights reserved. Manual systems and paperwork create high Days Sales Outstanding amounts due to slow and unnecessary clerical processes involved in handling paperwork or manual systems. By using the FAT FINGER centralized cloud-based and mobile app system, companies can streamline accounting and daily field operations to significantly decrease their Days Sales Outstanding. The successful implementation of e-tickets comes with several process challenges. Eventually, a local foundry helped them address the issue by providing tubular steel that they could use to prevent water from flooding the well.
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