Denver, CO (PRWEB) July 08, 2015
Oildex, a service of Transzap, Inc. (“Oildex”), hosted the annual OpenInvoice™ customer appreciation lunch in conjunction with the legendary Calgary Stampede, a celebration of Canada’s western heritage.
Following the announcement last week that it had acquired the Procure-to-Pay (P2P) business of Automatic Data Processing, Inc. (Nasdaq: ADP), Oildex has combined the two leading technology providers in the fast-growing financial supply chain automation sector, bringing hundreds of new customers into the Oildex family.
“The Stampede is the first opportunity we’ve had to welcome our customers - in person - to the new Oildex,” said Jennifer Beaupre, vice president of marketing at Oildex. “The spirit and excitement of the event matches our feelings about the future of our company and we wanted to share that with our customers.”
The new Oildex is a leader in the accounts payable (AP) and business-to-business (B2B) automation segment within the broader financial supply chain automation sector, with over 1,100 customers, a network of more than 50,000 suppliers, and key operation centers in the United States and Canada. It supports a product portfolio that is uniquely positioned to meet the advancing needs of enterprises to manage complex financial supply chains, particularly in the oil and gas industry, where companies have a long and successful track record of partnering with leading operators, suppliers, service providers, and mineral rights owners.
The combination of Oildex solutions and the OpenInvoice™ AP automation solution brings together a unique set of technologies to manage the financial supply chain and support financial documents and transactions, including invoices, payments, royalty check stubs, joint interest bills, run tickets, gas plant documents, and more. This creates the opportunity for customers to work with a single technology provider with an adaptable technology backbone for all data types and formats supporting complex industries, particularly in the oil and gas market.
“This was a great event that allowed us to showcase our complete product suite so that our customers can see how this acquisition will help improve the way they do business,” explained Beaupre. “We also wanted to assure them that it’s business as usual for them right now; our plans are to build upon the best of each company, and that means that they will continue to have access to the products that have won their loyalty.”
Customers who weren’t able to attend the event and have questions about their products should contact Oildex at support(at)oildex(dot)com.
Oildex is majority owned by Accel-KKR, a technology-focused private equity firm, which is making an incremental equity investment in the company to help facilitate the acquisition.
Oildex provides a complete, broad B2B automation offering for oil and gas companies. Services include: digital and scanned invoice processing (Spendworks™ and OpenInvoice™), owner relations web portals (Owner Relations Connect™), royalty check stub detail and reporting (CDEX), joint interest bill processing (JIB), crude oil data exchange (CODE), gas plant document exchange (GPEX), production and sales volume reporting, and much more. Oildex is a privately held company backed by Accel-KKR and is headquartered in Denver, Colorado with offices in Houston, TX and Calgary, Canada. For a full view of Oildex offerings visit http://www.oildex.com.
Accel-KKR is a technology-focused private equity firm with over $2.5 billion in assets under management. The firm invests primarily in software and technology-enabled businesses well positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through the Accel-KKR network. Accel-KKR has a particular focus on buyouts and recapitalizations of family-owned or closely held private companies, going-private transactions, and divisional buyouts of larger companies. Accel- KKR invests across a range of structures, functions as minority or majority investors, and commits a wide range of capital. The firm has offices in Menlo Park, Atlanta, and London. For more information http://www.accel-kkr.com.