Growing E&P Company Taps Verian for Purchase to Pay Solutions

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Private Company on the Rise Streamlines Procurement and Materials Transfers

Verian understands the unique challenges faced by E&P companies, especially in the area of materials transfers.

Verian, the leader in universal purchasing and invoice processing systems, has signed a leading private exploration and production (E&P) company in the Southwest.

The client company’s operations represent a mix of development and exploration opportunities with oil, natural gas, and natural gas liquids reserves.

The E&P company operates by acquiring assets that will increase in value through development drilling and lease consolidation. The company’s long term approach allows it to acquire and develop assets throughout market cycles.

The leading E&P company is planning a multi-stage project with Verian. Phase one includes rolling out Verian’s Purchase Manager to streamline procurement and solve purchase order (PO) issues, then deploying Verian’s Materials Transfer Manager to advance inventory management capabilities.

By automating these processes, Verian will help the customer improve visibility regarding where their inventory is located, and when that inventory moves. This enhanced visibility will enable more accurate cost accounting and planning and accurately identifying materials at the well and available in the yard. The system will also create proper accounting entries when materials are transferred between locations.

Phase two of the project will include integration to the customer’s ADP system for PO related invoicing, as well as PO delivery to network vendors.

“Verian understands the unique challenges faced by E&P companies, especially in the area of materials transfers”, said Tehseen Ali Dahya, President and CEO of Verian, “Our systems are designed to help them overcome these challenges, and we look forward to working as a team to make this customer successful.”

About Verian

Verian is the leader in universal purchasing and invoice processing systems. Founded in 1997 with headquarters in Charlotte, NC, Verian helps clients in a wide array of industries control spending and enhance visibility by providing them with a single software platform to automate their entire purchase-to-pay process. Verian’s broad and flexible product offering provides affordable, easy-to-use solutions that fit companies now – and when they change. Notable customers in industry segments such as energy, including oil & gas, retail, industrial, healthcare, financial services, government/non-profit and many others all trust Verian for intelligent purchase-to-pay automation solutions. Learn more at Verian.com.

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Shannon Lowe
Verian
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