Procurement and Accounts Payable Management
Robust, auditable purchasing with added features for oilfield service.
Oil field service Purchasing:
Attempting to track purchasing activities for an oil field service company is not an easy task for most systems. Consider that it’s not uncommon for a company to have purchasing requirements for equipment rentals (and sub-rentals), job specific purchase, repairs & maintenance, inventory items, manufacturing requirements, and fixed assets. Maintenance costs, even fuel, can be tracked to a particular truck or driver. Serial and lot number tracking can be used when needed, and the Tracing feature will show all transactions from purchase through to the sale to the customer, including manufacturing if applicable. Handling all this without an army becomes challenging for any system that was not specially designed for these tasks.
Making sure you have the tools, equipment, chemicals, and parts required when they need them.
Leveraging your buying power to ensure you get the best possible pricing can be overwhelming when not assisted by automation. Maintaining & managing alternative vendor options complete with their part numbers, lead times, etc. (just in case you need them in a hurry) can be a full-time job in itself.
Microsoft Dynamics 365 BC Purchasing & Payables is fully aware of your consumable inventory levels at all your locations. With ofsERP, it also knows where your equipment is located, and it’s status or availability to transfer to another location if needed. Everything is connected, as it should be. Not operating in “real-time” with up-to-the-second data is no longer an option is today’s competitive world.
ofsERP Purchasing & Payables oilfield service features allows you to:
- Operate with one fully integrated system that maintains accounting controls throughout.
- Maintain Vendor Contract Pricing for items, equipment, tools, & more.
- Create PO’s from Sales, Rental, Service, or Maintenance orders.
- Maintain multiple locations with separate quantities, costs, and replenishment methods.
- Handle & track drop shipments and sub-rents.
- Order non-stock items.
- Manage & track partial and blanket orders.
- Manages item substitutions and cross references.
- Accurately track payables and vendor performance.
- Receive & invoice as separate functions.
- Make payments via check or ACH.
- Handle prepayments.
- And more …