Amalto: Offering Comprehensive B2B Data Integration Services to the Oil and Gas Industry from the Fi

Jean-Pierre Foehn, Founder & Manager
Mastery in sailing requires experience under varying wind and sea conditions, as well as knowledge of sailboats, and an understanding of one’s surroundings. Jean-Pierre Foehn, Founder and Manager of Amalto portrays an interesting lesson in sailing that he applies to the way he runs his company. “When you steer your boat, you may have to move fast but you don't want to change tack too often, as this is how you lose momentum and speed. We are listening carefully to everything in the market, similar to feeling the wind and are trying to stay on course and stay focused,” asserts Foehn. Founded in 2005, Amalto enables organizations around the globe to exchange electronic documents in a quick, secure and cost-effective manner. With a focus on the Oil and Gas industry, Amalto serves companies which are active on the service side. “The average payment cycle for the service industry in the Oil and Gas sector is more than 100 days on average (from service delivery to payment) and by bringing our technology in the field and back office we contribute to reduce that cycle by 10 to 30 days that will have a huge impact on their cash flow and revenue,” says Foehn.

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.
Then the B2B integration engine of the solution, Amalto e-Business Cloud®, enables customers to fully automate the invoicing process directly from the ERP or accounting tool to the end customers (producers). Amalto e-Business Cloud® is a customizable, private cloud-based solution, supporting bi-directional exchange of any types of structured or unstructured documents mainly used by Amalto customers to automate their Account Receivable (A/R) or Accounts Payable (A/P) processes with their own customers or suppliers.

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.

Company
Amalto

Headquarters
Paris, France

Management
Jean-Pierre Foehn, Founder & Manager

Description
A provider of electronic field ticketing and electronic invoicing in the Oil and Gas industry.