Amalto: Offering Comprehensive B2B Data Integration Services to the Oil and Gas Industry from the Fi
Amalto offers one of the Oil and Gas industry’s first end-to-end DSO (Day Sales Outstanding) reduction service–Field-to-Finance®–that combines the best of electronic field ticketing with electronic invoicing. Specifically designed to support the requirements of oilfield service companies, the solution is comprehensive, and complete with business process analysis, design, implementation, and ongoing monitoring and support. It is compatible with any back-office ERP or accounting system, ensuring ease of implementation and use, dramatically reducing DSO.The field ticketing and data capture engine of Field-to-Finance® allows customers to capture commercial and operational data from the field using laptops or handheld devices, and transmit this data back to headquarters.
Migrating from a paper-based system to Amalto’s automated process enables organizations to achieve operational and financial excellence. “For a company with annual revenue of $3 billion and a DSO of 80 days, if you can reduce that time let’s say by 25 days, the financial gain achieved will be more than 12 millions, which is very significant,” notes Foehn.
Amalto is the only company dedicated to the Oil and Gas industry having bridged the gap between field and back office
Being a cloud-based company, Amalto offers its solutions as SaaS, but the company also has a pool of resources and people in the organization who can deliver those services to their clients. Looking ahead, Amalto aims to become the one stop shop for B2B data exchange for the service industry in the Oil and Gas sector by bringing more products and solutions onto the table. “We have developed first B2B integration services leveraging our cloud solution, then DSO reduction services by integrating mobile technologies to our cloud to better address the needs of our industry, and in the future we will expand that offering,” concludes Foehn.