Source-to-pay best practices

For oil and gas

Source
Contracts
Order
Receiving
Invoicing

Ordering

Best Practice #3

Order and invoice on the same platform
  • Roughly 70% of oil and gas spend is for services whose scope and quantity are unknown at the time of order placement.

  • For these services, most companies use either a work order tool with an internal requisition component or a simpler, friendlier dispatch solution.

  • The dispatch solution offers more controls and tracking, preventing rogue spending and “brother-in-law” procurement.  

  • Ideally, you order and invoice on the same source-to-pay platform.

True or False

Using the same platform for ordering and invoicing saves time and reduces the likelihood of errors because documents can be "Flipped" into the next required document type.

True
False

Your correct. It's true!

When a buyer and supplier order and invoice on OpenInvoice, the buyer codes the order and the supplier can “flip” the order into a field ticket and then “flip” a ticket to an invoice. This accelerates the entire process and ensures accuracy across the documents.

← Back to the question

You're incorrect. It's true!

When a buyer and supplier order and invoice on OpenInvoice, the buyer codes the order and the supplier can “flip” the order into a field ticket and then “flip” a ticket to an invoice. This accelerates the entire process and ensures accuracy across the documents.

← Back to the question

Why buyers and suppliers should transact on the same platform

Convert

The most streamlined process occurs when the service consumer and the service provider are on the same platform where the order can be flipped into and ticket and then into an invoice. The coding is done in the order by the consumer.

3-way match

The 3-way match between the order, the ticket or goods receipt and the invoice is the best way to verify scope, quantity and price in any transaction. The best solutions also offer verification of cost allocation (AFE and Cost Centers) along the way.

Coding

The best practice regarding coding is its creation by the buyer during the requisitioning and ordering step of the workflow. This eliminates reliance on the suppliers to get it right and increases accuracy. If the operator doesn't need a rigorous internal requisitioning process, coding can be applied during the ordering or dispatching steps. In an integrated platform, the coding flows through from sourcing to settlement.

Easy orders with openorder

  • Create, approve and dispatch orders in a single platform

  • Multiple order types (e.g. Work Orders and Purchase Orders) are supported  with different workflows

  • Blanket orders, orders against catalog, price book or purchasing categories

  • Direct or multi-supplier dispatch to a supplier based on configured rules and intelligent matching

  • Modern, simple and intuitive interface Flexible API support for integrations, regardless if orders are created in the UI or externally

  • Configurable dashboard widgets, saved searches and file export Deep integration with OpenTicket, OpenInvoice and the Enverus Supplier Network
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