Denver, CO – March 6, 2017 – Oildex, a service of Transzap, Inc. (“Oildex”) and the leading provider of cloud-based financial supply chain automation solutions, and Phoenix DAS, a service of P360 Management Solutions (“Phoenix DAS”), have partnered to bring a fully integrated field management solution to the oil and gas industry.
The North American oil and gas industry continues to look for ways to improve efficiencies and reduce costs by bridging the gap between field services and back office systems. Oildex’s Field Ticket solution, in combination with Phoenix DAS’s field management solution, OpenTicket, provides an end-to-end solution that fills this gap. This partnership will facilitate collaboration, eliminate duplicate entry, and enhance the compliance and validation process for field ticketing while saving time and money for operators and field service providers. The integrated digital solution, available on and offline, will enable unprecedented operational visibility and reliability.
Michael Weiss, CTO of Oildex, states, “Our vision is to enable businesses in the oil and gas ecosystem to seamlessly collaborate across their financial supply chains by automating key business processes, eliminating the high cost and errors of paper, and providing access to key data to make more informed business decisions. This partnership brings immediate value to our customers by more tightly integrating field-to-office processes.”
Mike Maddox, founder of Phoenix DAS, adds “Like minded leadership in engineering and design of the software make Oildex our ideal partner for this undertaking to advance beyond merely linking operators and field service providers. Given our prior success of sharing complementary technologies, we are very excited to now contribute so broadly to our joint vision of oilfield digitalization leadership and our partnership with Oildex will now ensure that the development of the two products will advance together.”
Oildex and Phoenix DAS customers will be automatically connected to transact with each other including the ability to electronically create and submit field tickets, receive approvals, and create invoices from those approved tickets. It will reduce the time from completed work to invoicing by as much as 70%, with zero lost tickets and less paperwork.
Oildex’s Field Ticket solution enables its customers and their suppliers to eliminate paper, simplify processes, and significantly reduce administrative load. With a paperless field ticket process, field service professionals can focus on their jobs in the field, accounting professionals can easily identify exceptions and focus on maintaining cost-control, and operational decision makers can plan for the future with real-time spend visibility.
OpenTicket from Phoenix DAS is a cloud-based, mobile ﬁeld operations software module designed to manage ﬁeld tickets throughout an organization. With a live dashboard, all jobs can be displayed on a single screen, including start times and status. Management teams have full visibility of each job and can follow every step in real time.
Oildex and Phoenix DAS have identified opportunities to work together in multiple basins across North America where each company can leverage their technology and industry expertise to bring new business value to the market.
Oildex transforms the way oil and gas companies manage their financial operations. As the market leader and innovator of cloud-based solutions for financial supply chain automation, Oildex provides functionality that is built for the industry, eliminates paper-based processes, and provides analytics for greater financial insight. The Oildex technology platform includes digital and scanned invoice processing (OpenInvoiceTM), owner relations web portals (Owner Relations), royalty check stub detail and reporting (CDEX), joint interest bill processing (JIB), crude oil data exchange (CODE), gas plant document exchange (GPEX), production and sales volume reporting and much more.
Oildex is a privately held company backed by Accel-KKR and is headquartered in Denver, Colorado with offices in Houston, TX and Calgary, Canada. Learn more about Oildex at www.oildex.com.
VP of Marketing
About Phoenix DAS
Phoenix DAS oilfield software solutions offers mobile workforce solutions designed for oilfield service companies.
The Phoenix D.A.S. software platform and its suite of applications enable companies to optimize and automate business processes across the entire organization, from the ﬁeld to the executive suite, helping service companies manage the operations of field ticketing, purchasing, safety and more.
Phoenix DAS Contact:
VP of Operations