Verian Technologies and Cortex Business Solutions have partnered to offer a paperless invoicing solution to E&P companies. Verian is to integrate Cortex’ Trading Partner Network within its procurement automation solution, enabling E&P clients to eliminate paper invoices, speed invoice approval, and capture early-pay discounts. One of Verian’s clients, an independent oil and natural gas company based in Houston, will go live with the joint technology solution later this year. The integration will provide the E&P firm with paperless invoicing to around 80% of its supplier base.
The (anonymous) client’s VP of IT said, ‘Using Verian’s procurement automation system, we’ve been able to move most of our requisitions onto purchase orders. However, the nature of our business makes it nearly impossible to create an order for every purchase. We needed to find an easier way to process non-PO invoices. After looking at several options, it made the most sense to augment the Verian system we’ve been using for several years with Cortex’s supplier network.’ Cortex’ buy-side clients include Husky Energy, Apache Canada, Bonavista Petroleum, Murphy Petro-Hunt and Energen. More from www.oilit.com/links/1104_17 (Cortex) and www.oilit.com/links/1104_18 (Verian).
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