Achieve peak performance in your oilfield service company with less complexity, effort, and time.
Supports multiple companies and lines of business including:
FRACKING WORKOVER COMPLETION FISHING RENTAL INSPECTION TRANSPORT
FABRICATION HAULING DISPOSAL WIRELINE MAINTENANCE ROUSTABOUT OTHER SERVICES
Take advantage of the robust functionality of Microsoft Dynamics 365 BC financial and operations software extended to automate time consuming and sometimes complex needs of the industry. OfsERP is designed specifically to help the Oilfield Services companies boost their profitability, streamline and strengthen their operations, and increase their and cash flow. With over 1.6 million users embracing its rich functionality, and over 170,000 companies relying every day upon its stability, Microsoft Dynamics 365 Business Central (with its lineage) is the most used ERP business management software in the world. This provides an extremely stable platform, which continues to evolve.
SPEED BILLING & CASH FLOW
In most cases, the faster you can invoice, the faster you receive payment; so eliminating stacks of tickets waiting to be approved will positively affect cash flow. With ofsERP you can automate even the most complex invoicing process, increase accountability, and track where the delays occur. Individual tickets may be invoiced independently, or consolidated into a single invoice. Invoices and tickets can automatically be emailed to the customer or uploaded to Open Invoice, and other customer and industry portals.
The cash flow impact can be significant For example: invoicing just 10 days quicker increases cash on hand by $273,972, for every $10m of annual revenue that is invoiced based upon net terms. A/R decreases by the same amount. For a $100M firm it’s $2.739M. See how this is calculated and review the financial impact of other strategies on this same website, here: Financial impact calculators.
MAXIMIZE EQUIPMENT PERFORMANCE
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 available 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.
ofsERP…the fastest route from field tickets to cash™
ELIMINATE DUPLICATE ENTRY
Reduce back-office labor costs by 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. Eliminate the costs of maintaining multiple systems.
Attract capital from investors who prefer companies that use a proven, auditable accounting system, rather than QuickBooks and spreadsheets.