Pengrowth Energy Trust Selects Digital Oilfield Solutions to Automate Invoice and Accounts Payable Processes.CALGARY, Alberta and HOUSTON -- Digital Oilfield Inc., a software solutions company that optimizes financial and operational processes between energy companies and their suppliers, announced that Pengrowth Energy Trust has selected Digital Oilfield's OpenInvoice and OpenInvoice Image solutions to automate To turn a set of manual steps into an operation that goes by itself. See automation. and streamline their invoicing and accounts payable processes. Pengrowth, a Canadian oil and gas producer and one of the largest energy trusts in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , selected Digital Oilfield for electronic invoicing and will begin piloting the solution in mid-October, 2005. Pengrowth and Digital will focus on two key operating areas, and broaden the implementation to all of Western Canada
Western Canada, commonly referred to as the West on the successful completion of the pilot. "After 6 months of discovery and analysis, we chose Digital's electronic invoicing solution to help us lower costs through automating our invoicing process," said Clay Radu, Manager, Information Systems, Pengrowth. "We now have one method for processing all incoming invoices, whether paper or electronic. So, we are handling less paper and reducing the staff time it once took to handle the invoices." "Pengrowth has been a leader in driving down costs and delivering superior financial results to their shareholders," said Dave Savelle, Vice President Canadian Region, Digital Oilfield. "We are delighted that Pengrowth has selected our solutions, and are confident that we can help them to continue to drive down costs even further through automating their processes." Digital Oilfield's OpenInvoice product is the most widely used e-invoicing technology in oil and gas. It automates the process of invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. generation, receipt, adjudication The legal process of resolving a dispute. The formal giving or pronouncing of a judgment or decree in a court proceeding; also the judgment or decision given. The entry of a decree by a court in respect to the parties in a case. and approval, and streamlines traditional labor-intensive paper-based workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. processes. In addition, detailed spend data acquired through the invoice process can be analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. to identify inefficiencies and enable improved operational performance. OpenInvoice Image, an add-on module, enables the operating company operating company A business that engages in transactions with outsiders. to use the OpenInvoice workflow engine Workflow engine is a software application meant to manage and execute modeled business processes. It is a key component in workflow technology. It will typically make use of a database server. , even for those invoices that are still submitted on paper. By converting the paper invoice to a digital image through the OpenInvoice Image module, the same processing, routing and approval workflows that OpenInvoice Professional users enjoy for processing electronic invoices, are now available for paper invoices as well. In addition, cost categorization can be applied to the paper invoices, allowing an operating company to immediately analyze 100% of their spend. About Digital Oilfield Inc. Digital Oilfield delivers Internet-based solutions that automate and integrate financial and operational processes between energy companies and their suppliers. Our products simplify complex workflow processes and enable collaboration within and between organizations. Drilling, Production, Finance, Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. departments, as well as external service suppliers and partners all use Digital Oilfield solutions. About Pengrowth Energy Trust Pengrowth Energy Trust (Pengrowth) is a Canadian oil and gas producer and one of the largest energy trusts in North America. Pengrowth was created in December 1998 to provide investors with an opportunity to participate in the oil and gas industry without the higher investment risk associated with exploratory drilling. Digital Oilfield Inc., digitaloilfield.com, OpenInvoice and the Digital Oilfield Inc. logo are either trademarks, trade names or service marks of Digital Oilfield Inc. and its licensors, or are the property of their respective owners. These marks may not be copied, imitated or used, in whole or in part, without the express prior written permission of Digital Oilfield Inc. |
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