ABILENE, Texas, Oct. 21, 2020 /PRNewswire-PRWeb/ -- WolfePak Software, a leading provider of oil and gas accounting, regulatory compliance, and automation software, today announced its Division Order solution, which automates the receipt, processing, approval, and management of Division Order (DO) Letters online. Benefits to customers include a fully automated approach for the entire DO process, eliminating manual data entry errors, providing integrated accounting workflows, and enabling better owner relations.
WolfePak is the only solution available today that tackles the most resource-intensive processes that oil and gas companies face with Division Orders – the review, approval, and data entry of returned DO Letters. Today, processing returned DO Letters is manual, error-prone, and consumes hours of staff time, making resolution times longer and eroding trust with investors and partners. Managers cannot rectify the situation because they lack the necessary visibility into DO Letter processing status to determine productivity chokepoints.
While most oil and gas accounting systems automate the creation and distribution of Division Order Letters, only WolfePak addresses their most significant challenge – processing returned DO Letters. WolfePak provides companies complete management of the entire DO Letter lifecycle by automating the manual data entry of critical data such as return status, approval dates, or payment information, enabling electronic workflows for approval routing processes, and automatically updating the accounting system of record. WolfePak also allows DO Administrators to quickly respond to management and investor inquiries with easy online search access and advanced reporting capabilities.
"Automation is the key to surviving today's volatile oil and gas markets. It is the catalyst that enables companies to lower their operating costs, build stronger relationships with their investors and partners, and scale their operations to match business conditions," said Leon Busch, COO of WolfePak Software. "Automation is no longer limited to the largest oil and gas firms. WolfePak works daily to extend these capabilities to all companies and ensure that our solutions provide customers with the right information they need to navigate today's challenging conditions. Our new Division Order solution underscores this commitment to innovation."
Key features and benefits of the WolfePak Division Order solution include:
- Total automation of the entire DO Letter cycle from origination to return;
- Standard keyword-based search queries for easy document retrieval;
- Instant visibility into the status of all sent, outstanding, received, or processed DO Letters;
- Comprehensive productivity reporting and analytics; and
- Automatic alerts and rules-based processing for any DO Letter documentation issues.
For more information on the WolfePak Division Order solution, please visit https://wolfepak.com/do-automation.
About WolfePak Software
WolfePak Software offers business automation software products for oil and gas upstream and midstream customers, including E&P operators, crude oil purchasers, transporters, haulers, investors, and CPA firms. Located in Abilene, deep in the heart of the Texas oil patch, WolfePak serves customers throughout the United States and the world. With its staff of experienced software developers, CPAs, and oil and gas professionals, WolfePak has helped oil and gas companies streamline business operations, reduce operating costs, and increase their profitability since 1986. For more information, please visit http://www.wolfepak.com.
SOURCE WolfePak Software
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