OIl & Gas 360

Focused on Difficult Decisions in Challenging Markets, OpenInsights Helps Cut Costs, Not People
Next chapter in shale’s evolution will focus on software, virtualization, business automation, and machine learning

When this press release came out, I found myself doing a double check. 1: When business systems are automated there is an association with jobs being lost; and 2: The ROI in the press release was too good to be true. Well we had to check and see if these were marketing numbers, or numbers you can take to the bank. 

Enverus: -oilandgas360

We were able to sit down with Enverus's Chris Dinkler, Senior Vice President, and General Manager of the Business Automation division. Michael Tanner, 360 Digital Closing Bell host and analyst accompanied myself. We asked Chris, "We are kind of concerned, are these marketing numbers or are they based on data like everything else Enverus does?"

Through the conversation we learned that the supply chain logistics in the oil and gas companies have millions of dollars in waste and the OpenInsights platform can help sort through the data and find the waste. Why should companies pay thousands of dollars more for the same widget from different suppliers? Why is the same widget costing less from the same supplier in a different basin? These critical logistic data points can easily  be seen on the dashboards.

Chris responded to our question about marketing vs real ROI numbers. He said that they can go into a perspective client, and show the senior management real savings from actual data in their own systems. The system is so powerful that it can truly take advantage of the other data available to the Enverus corporation, and integrate into their clients logistical systems. 

I was duly impressed. If you need to save a few jobs in your company, just listen to Chris. 



 Key Takeaways 

  • Enverus means data.
  • There is an untold amount of waste in logistics for the oilfield companies.
  • Taking advantage of the Enverus vast data repositories as a solution can in fact save money and potential  jobs.

About Enverus Business Automation Network

At Enverus Business Automation, our mission is to eliminate all the paper, manual processing and data entry from the oil & gas industry so companies of all types can reduce costs and increase efficiency. We’ve had great success so far, having seen some of our operators achieve nearly 100% electronic invoices. But we’ve really just begun. Our most recent initiative targets another pervasive paper document in oil and gas, the ubiquitous field ticket. We are privately held and backed by Accel-KKR. Our headquarters are in Austin, Texas, and we have offices in Houston, Denver, and Calgary.


Chris Dinkler -Enverus VP-GM- oilandgas360

Chris Dinkler

Senior Vice President, GM Business Automation


OpenInsights

OpenInsights For OperatorsOpenInsights, a spend analytics software solution, provides operators visibility into goods and services spend at a granular level. Get the insights your supply chain team needs to strategically source materials, manage vendors, and optimize collaboration between your supply chain and operations.

 






Quickly Identify Where Every Dollar Is Spent With Normalized, Descriptive Spend Data

With more than 50,000 active oil and gas suppliers submitting invoices and field tickets into our network and over $190 billion in industry spend data, Enverus cracked the code on category-specific supply chain data. By analyzing millions of lines of complex, unstructured data and normalizing it through descriptive attributes, supply chain organizations can quickly analyze their own spend data at a granular level to identify where every dollar is being spent — without any tedious onboarding process or IT resources required.

Openinsights - Enverus - oilandgas360


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