Oildex Poised To Transform The Future Of Oil & Gas Supply Chains With Its Acquisition Of Phoenix DAS
September 28, 2017 – Austin, TX and Houston, TX – Oildex announced today at its 2017 Community Conference in Austin, Texas that it has acquired Phoenix DAS, a leading provider of integrated field operations management software for oilfield suppliers. The acquisition builds on a strategic partnership the two companies announced earlier this year to support Oildex’s electronic Field Ticket initiative and sets the stage for Oildex to deliver unprecedented collaboration between oil & gas operators and suppliers from sourcing through payment.
Phoenix offers a full suite of integrated, mobile field operations software for oilfield suppliers that manages sales, dispatch/e-ticketing, equipment, purchase orders, rental orders, inventory, personnel, safety, and payroll, and provides them with real-time information across multiple geographical areas. Through its partnership with Oildex, numerous suppliers have already deployed the Phoenix OpenTicket module to eliminate paper field tickets and streamline processes by collaborating with operators over the Oildex Network. Phoenix DAS CEO Mike Maddox will be joining Oildex as General Manager, Field Service.
‘Always-On’ Supply for Oil & Gas
However, collaborating on field tickets is just the start of what Oildex and Phoenix have planned for the oil & gas industry. The companies have already identified over two dozen potential integration points between the two company’s product lines. When fully implemented, operators and suppliers will be able to digitally collaborate in real-time across the Oildex Network all the way from initial sourcing through contracting, ordering, shipping/receiving, invoicing and payment. This ‘always-on supply chain’ will deliver dramatic productivity improvements and cost savings to both operators and suppliers by eliminating paper, manual processing, data entry, redundant processes, errors, and fraud.
“The complex, service-centric nature of the oil & gas industry does not lend itself to typical ‘widget’ based procurement evident in most supply chains like manufacturing,” said Craig Charlton, Oildex CEO. “The industry needs a lean, responsive, always-on supply chain that acts more like a marketplace than a traditional supply chain. Both sides of the supply chain need to gain efficiencies, and that will only happen through collaboration rather than traditional ‘arms-length’ sourcing exercises. The health of the industry depends on both sides working together.”
“With its acquisition of Phoenix, Oildex now serves the oil & gas industry with comprehensive operational footprints for both operator and supplier, as well as a collaboration network already supporting 230 buyers and 67,000 registered service providers,” said Andrew Bartels, VP and Principal Analyst, Forrester Research. “With all these capabilities under one roof, Oildex is well positioned to deliver the always-on supply chain to this industry.”
APIs For Other Software Products
Oildex will not limit its vision to those companies that use its software exclusively. While Phoenix gives Oildex extensive supplier expertise and a platform for architecting future operator-supplier collaboration scenarios, Oildex is also committed to publishing all the necessary APIs to make the always-on supply chain accessible to users of other software products.
Charlton said “We place great value in the ongoing loyalty of the suppliers who utilize our network, and appreciate that many have made investments in their own Mobile Field Service Management applications. We plan to open our capabilities to ensure that these suppliers can maintain their existing applications and still enjoy the benefits of participating in this exciting new paradigm. Protecting their investment is paramount to us.”
Oildex works closely with strategic partners including Amalto to provide API access to its products. “Amalto has had great success integrating some of the industry’s largest service providers into the Oildex Network to process electronic invoices and field tickets,” said Jean-Pierre Foehn, Chief Executive Officer of Amalto. “We are excited to be partnering with Oildex to implement their transformational vision of the always-on supply chain for Oil & Gas.”
Oildex, a service of Transzap, Inc. (“Oildex”), is transforming the way oil & gas companies manage their financial operations. Over 250 operators, 67,000 suppliers, dozens of financial institution and millions of mineral rights owners in North America use the Oildex network to seamlessly and securely collaborate across their financial supply chains, automate critical business processes, eliminate the high cost and errors of paper, and obtain access to key data to make more informed business decisions. Oildex is privately held, backed by Accel-KKR, headquartered in Denver, Colorado, and has offices in Houston, Calgary, and Austin.
About Phoenix DAS
Phoenix DAS offers mobile oilfield software solutions designed specifically for oilfield service companies. The Phoenix DAS software platform optimizes business processes across the entire company-from the field to the executive suite-reducing cost and improving resource utilization while increasing productivity and transparency for proactive business decisions and increased profitability. Each Phoenix module is fully mobile, intuitive, easy-to-use and allows oilfield service companies to manage their entire business in one place in real-time across multiple geographic regions.