Oildex Announces Decade-Long Compliance with SSAE 16 SOC 1 Type11 Standards

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The independent audit evaluated the design and execution of Oildex’s operational controls in addition to the procedures critical to processing vast quantities of information.

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Oildex, the premier cloud-based document exchange and workflow provider connecting the oil and gas industry is pleased to announce it has successfully completed its tenth straight SSAE 16 SOC 1 Type II audit which ensures the company’s controls and procedures conform to industry standards and best practices. The review was conducted by an independent auditing firm and has been in effect from November 2013 – October 2014.

The independent audit evaluated the design and execution of Oildex’s operational controls in addition to the procedures critical to processing vast quantities of information. Successfully completing the SSAE 16 SOC 1 Type II audit is critical for a leading SaaS supplier like Oildex as it provides customers and their auditors with assurance, transparency and confidence in Oildex’s ability to effectively manage and safeguard their data. It is an annual commitment for Oildex to complete the SSAE 16 Type II assessment to ensure regulatory compliance for its thousands of oil and gas industry clients.

“As an online service provider, it is vital that we maintain our mission of keeping our customers’ data safe. This is part of our overall commitment to deliver an exceptional customer experience,” said Ben Harris, Oildex Director of Technical Operations. “By successfully completing the rigorous SSAE 16 SOC 1 Type II audit, Oildex has achieved a decade long record of compliance which assures that our operational and data processing standards are safe and reliable and allows our clients to focus on their core business while we handle all of their back-office data exchange and workflow needs.”

SSAE 16 is the professional standard developed by the American Institute of Certified Public Accountants, used for issuing SOC 1 reports in accordance with Service Organization Control (SOC) reporting framework.

About Oildex
Oildex provides cloud-based document exchange and workflow solutions to over 7,900 companies and 130,000 registered users in the oil and gas industry. The Oildex suite of services streamlines operations enabling companies to shift from paper-based processes to electronic and provides tools for companies to track and understand their transactions in near-real time. Currently available services include: digital and scanned invoice processing (SpendworksTM and Spendworks CompleteTM), owner/producer relations data posting (Owner Relations ConnectTM), check stub reporting (Checkstub ConnectTM – CDEX), scanned check stub reporting (CDEX CompleteTM), joint interest bill processing (JIB ConnectTM), scanned JIB processing (JIB CompleteTM), crude oil data exchange (Run Ticket ConnectTM – CODE), and production and sales volume reporting. Oildex has offices in Denver and Houston. For more information, please visit http://www.oildex.com.

Oildex Contact:
Courtney Cook, Marketing Coordinator
ccook(at)oildex(dot)com
303-222-6139

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Courtney Cook, Marketing Coordinator
Oildex Contact:
+1 (303) 222-6139
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@Oildex
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