Wilson Supply Transacts Electronically with Five Energy Companies Through Digital Oilfield's Electronic Invoicing Solution.HOUSTON & CALGARY, Alberta -- Digital Oilfield, a software solutions company that optimizes financial and operational processes between energy companies and their suppliers, and Wilson, a business unit of Smith International, announced today the expansion of their collaborative electronic invoicing implementation to a fifth upstream E&P operating company operating company A business that engages in transactions with outsiders. . Wilson is currently transacting electronically with energy companies in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , the U.S. Rocky Mountains Rocky Mountains, major mountain system of W North America and easternmost belt of the North American cordillera, extending more than 3,000 mi (4,800 km) from central N.Mex. to NW Alaska; Mt. Elbert (14,431 ft/4,399 m) in Colorado is the highest peak. , West Texas and Western Canada (via their Canadian partner CE Franklin) through Digital Oilfield's online invoicing solution. Wilson is a leading supply-chain management company providing pipe, valves, fittings, industrial supplies, safety products and other MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (maintenance, repair and operating equipment) products to the energy, refining, petrochemical and power generation markets. Wilson sends electronic invoices and proof of delivery documentation to their customers via Digital Oilfield's hosted OpenInvoice application. The invoices are then adjudicated and approved by the operating company using OpenInvoice's comprehensive workflow processing tools. "Wilson and our customers have seen tremendous benefit since implementing electronic invoicing," stated Lynn Perrin, Wilson, Vice President of Supply Chain Services. "Eliminating lost invoices, being able to manage invoices real-time with customers and simply having visibility helps us streamline our processes. Our customers have clearly seen benefits as well, as we have seen reduction in our DSO See CSO. (Days Sales Outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). ) since implementation of this solution." Wilson and Digital were pioneers in utilizing the B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business standards developed by the industry through the API (American Petroleum Institute The American Petroleum Institute, commonly referred to as API, is the main U.S. trade association for the oil and natural gas industry, representing about 400 corporations involved in production, refinement, distribution, and many other aspects of the industry. ). Digital and Wilson's technology is supported by XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. document standards defined by the API PIDX PIDX Petroleum Industry Data Exchange sub-committee and the RNIF RNIF RosettaNet Implementation Framework (RosettaNet) transport and routing protocol. Wilson utilizes best-of-breed technology applications in delivering value to its customers. The solutions supporting Wilson's eBusiness initiatives are centered around Oracle, A2i, 170 Systems and Microsoft technologies. "Working with the Digital Oilfield system allows us to take full advantage of the B2B environment's capabilities," commented Kristy Hrachovy, Wilson, Director of Supply Chain Services and Technology. "Their support for electronic attachments and documented proof of delivery truly makes this a paperless process. Additionally, our customers have better access to information now. In the past, if they wanted to analyze their spend with us in detail, they had to get the information from each supplier. Now they can use OpenInvoice to look at the detail any way they want." Wilson is able to leverage Digital Oilfield's association with multiple operating companies. As Digital Oilfield adds new energy companies as customers, Wilson will be able to transact with the new companies within a matter of days. In addition to Wilson, more than 1800 suppliers are set up and transacting on the Digital Oilfield network. "Wilson is the most advanced MRO supplier using our system," said Dave Savelle, VP US Operations, Digital Oilfield. "They have clearly invested time and effort to take best advantage of the opportunity that this B2B technology provides. It's turned out to be a win for Wilson and their customers." 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 and purchasing departments, as well as external service suppliers and partners, all use Digital Oilfield solutions. 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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