See a breakdown of the top Oil and Gas Bill Pay Softwares
In the fast-evolving oil and gas industry, efficiency and accuracy in financial operations are paramount. Accounts payable software solutions are essential for managing expenditures and optimizing cash flow. Here's a look at the top five software solutions that are transforming accounts payable processes in the oil and gas sector.
Joltly is tailored to optimize accounts payable workflows in the oil and gas industry, targeting small to midsize companies. It leverages AI for enhanced invoice processing and employs cutting-edge fintech innovations to streamline vendor payments and management, simplifying approvals and transactions.
The platform's user-friendly design ensures seamless integration with existing ERP systems, enhancing overall business management efficiency.
Pricing: Flat pricing based on number of invoices processed. Starts at 250/month. Unlimited Users. $
Originally tailored for the oil and gas sector, Workrise has evolved into a modern workforce management platform now serving larger industries. It's ideal for companies with extensive contingent workforces, offering streamlined financial tools that facilitate timely payments and reduce administrative overhead. While broadening its focus, Workrise remains particularly well-suited for enterprise-level companies seeking a robust, industry-spanning solution.
Pricing: Customized pricing based on service scope and user count. $$$
OpenInvoice has served as a standard accounts payable solution for E&P companies for over 15 years, offering basic features such as digital invoicing, compliance checks, and real-time reporting. It includes a vendor portal that supports transparency and enhances communication between oil and gas companies and their suppliers. However, while it facilitates quicker dispute resolution and cash management, its high pricing and lag in adopting the latest technological innovations have made it less attractive to some customers.
Pricing: Customers often complain about it being too expensive. Will charge per seat and based on volume. Contact for quote. $$$$
Pakenergy's DocView is tailored to complement WolfPak accounting software, providing document management capabilities that work well within this specific setup. It includes features for document control, security, and data accessibility, which can streamline payment processes and improve record accuracy when used with WolfPak. However, its integration with other accounting systems may not offer the same level of efficiency..
Pricing: Pricing details provided on a per-case basis, depending on deployment size and features. Will likely charge per seat and based on volume. $$$
Integra offers a traditional accounts payable solution suitable for all business sizes in the oil and gas industry. It features established systems like automated workflows and electronic payments but is often considered outdated by users. While reliable, it lacks the modern updates seen in newer software.
Pricing: Custom pricing structure based on the scale of operations and specific module selections. $$
Choosing the right accounts payable software is crucial for optimizing financial operations in the oil and gas industry. Each of the solutions listed offers unique benefits, from Joltly’s well tracking capabilities to Integra’s customizable workflows. Companies should consider their specific needs, including integration capabilities, ease of use, and the level of support offered by the software provider to ensure they select the best system to enhance their accounts payable processes.
Get quick answers to common queries in our FAQs.
JEL Resources example:
In the Roughneck tier, the user processes 25 documents, makes 10 ACH payments, and sends 2 checks. The total cost includes the $250 base fee for the Roughneck tier, $37.25 for document processing, $4.90 in ACH fees, and $3.98 for check-sending fees. Altogether, the total comes to $296.13.
Energy Investments example:
In the Wildcatter tier, the user processes 100 documents, makes 50 ACH payments, and sends 10 checks. The total cost includes the $500 base fee for the Wildcatter tier, $149 for document processing, $24.50 in ACH fees, and $19.90 for check-sending fees. Altogether, the total comes to $693.40.
Joltly aims for broad compatibility, especially targeting integration with major ERPs in the energy sector. We're dedicated to customizing these integrations to fit your exact needs for seamless financial operations.
Joltly streamlines your onboarding with dedicated Slack channels or email chains, offering immediate, tailored support from our team to address any setup queries or issues, ensuring a seamless integration process.
Yes, Joltly can be personalized to fit your business's unique needs, offering customizable workflows, reporting, and dashboard features to match your specific financial processes and requirements.
Give Joltly a try and see for yourself if it's a good fit for Saas needs.
