ofsERP™…the fastest route from field tickets to cash™.
Achieve the highest efficiency when everything works seamlessly together.
(Even across different lines of service, locations, and companies.)
AUTOMATE the INVOICE PROCESS
Eliminate stacks of tickets waiting to be approved or billed. Automate the approval process, increase accountability, and track where the delays occur. Reduce delays from invoices rejected by the customer since ofsERP accurately handles most contract pricing and can check for completion of required billing codes.
Convert each ticket to an invoice or consolidate multiple tickets into a single invoice. Email, print, or upload signed invoices or tickets to customer and industry portals, including Open Invoice.
Mathematically, for every $10m of annual revenue that is invoiced based upon net terms that can be invoiced just 10 days quicker (while staying compliant with customer agreements and GAAP), cash on hand increases by $273,972 and A/R decreases by the same amount. See how we calculated this, and the financial impact of other strategies on this same website, here: Financial impact calculators)
IMPROVE EQUIPMENT UTILIZATION
Minimize loss and maximize utilization of equipment and tools. Know what equipment is on each yard, location, truck, well site and what should be coming back. Easily record movements from one ticket/well-site to another.
Know the revenue generated by each piece of equipment as well as its cost, maintenance, and deployment history. Invoice customers for damage and equipment not returned.
Track the equipment availability at all locations and their utilization. Reduce unnecessary buys and expensive hot-shot costs.
Assure equipment is inspected before returning to the field. Record equipment usage from the field and schedule preventative maintenance to avoid loss of customer goodwill and revenue from unexpected downtime.
ELIMINATE DUPLICATE ENTRY
Reduce back office labor costs as much as 50-75%. Eliminate the cost of double and triple entry of orders, field tickets, invoices, and unnecessary spreadsheets.
Use Electronic Field Ticketing on mobile devices to access and update corporate data from the field to speed the billing process and further add to cash flow.
Ease compliance with the operator’s requests and capture a larger market share. Bundle service, rental, hauling, or consumables to reduce margin pressure on individual line items, and increase revenue.
Attract capital from investors who prefer companies who use a proven, auditable accounting system. Eliminate the costs of maintaining multiple systems with the all-in-one ofsERP.