The combined services we receive from LiquidFrameworks and Actian provide an opportunity to leverage investments we have made in both companies to increase the efficiency of our overall field ticket to collection process, and to help us reduce our DSO.
Houston, Texas (PRWEB) September 10, 2013
LiquidFrameworks and Actian Corp., market leaders in Oil and Gas field operations and e-Invoicing management solutions respectively, are jointly working to tackle the front and back end of the supplier Days Sales Outstanding (DSO) challenge, helping service providers recoup their payments more swiftly.
Through the alliance, suppliers can access the LiquidFrameworks’ mobile field operations FieldFX software suite and the Actian Business Xchange managed service, enabling them to provide their clients with accurate field tickets and invoices that meet operator standards the first time.
“In order for suppliers to continue to grow their business, they must reduce inefficiencies by automating and streamlining manual field ticket to invoicing processes,” said LiquidFrameworks’ Vice President of Worldwide Sales Dave Levitt. “We are very excited to partner with Actian to help companies improve their DSO performance from both sides of the customer invoice.”
The LiquidFrameworks FieldFX solution is a cloud-based mobile field operations software suite designed to maximize revenue capture while improving DSO by managing contracts, quotes, equipment, jobs and field tickets along with customer-specific electronic forms such as safety incidents, inspections and other operational data reports. FieldFX was designed with field personnel in mind in order to increase usability and, therefore, make the implementation more successful.
The Actian Business Xchange Integration-as-a-Service managed offering supports a full spectrum of B2B services and supply chain transactions that enable the global Oil and Gas industry to achieve significant savings, efficiencies and DSO reduction within their Accounts Payable and Accounts Receivable departments. Many operators require that invoices be created in a format that is not easily generated by most ERP or accounting systems. The Actian Business Xchange managed service converts invoices into the required format for operator companies, validates for accuracy and delivers them directly to their customer’s systems, which leads to a quicker time to revenue.
“Once a supplier completes a service, each day without payment can negatively impact their business,” said Lance Speck, general manager of Actian DataCloud. “This alliance with LiquidFrameworks helps tighten the field ticket to invoicing process and increases invoice status visibility, which means suppliers get cash in the door more quickly.”
“The combined services we receive from LiquidFrameworks and Actian provide an opportunity to leverage investments we have made in both companies to increase the efficiency of our overall field ticket to collection process, and to help us reduce our DSO,” said Chris Wasson, V.P. of Finance, Americas at Swire Oilfield Services.
LiquidFrameworks is a leading provider of cloud-based mobile field operations management solutions serving the oil and gas, industrial, and environmental service industries. LiquidFrameworks’ FieldFX solution provides companies with numerous benefits, including increased and accelerated revenue capture, increased cash flow, improved contract compliance, increased invoice accuracy and improved customer responsiveness. LiquidFrameworks is based in Houston, Texas.
To learn more about FieldFX and how operations management solutions can add value to your oilfield, industrial or environmental service company, visit http://www.liquidframeworks.com.
Actian powers the action-driven enterprise in the Age of Data, delivering rapid time to analytic value with a modular approach that connects data assets behind the scenes, enables unconstrained analytics and scales almost without limits. The Actian DataCloud Integration and ParAccel Big Data Analytics Platforms help organizations leverage data assets for competitive advantage, delivering highly parallelized software that fully exploits modern chip, core and cluster infrastructures. Its scalable solutions deliver powerful business results for industry innovators. Actian serves tens of thousands of users worldwide and is headquartered in Redwood City, California. To learn more about Actian, visit http://www.actian.com.