Pandell Hosts O&G Executives at the Unveiling of its Electronic Invoice Management Solution
Calgary, AB – (Oct 12, 2011) Today Pandell hosted 25 senior and executive level oil and gas professionals at its downtown training center to take their first look at a brand new e-invoicing and invoice management solution. The solution is the first 2-part, web-based system to automate the entire accounts payable process from electronic invoice receipt, through approval routing, to automatic data submission into JVNexus financial accounting software.
The fully integrated solution is developed and managed cooperatively by Pandell and Cortex. Cortex provides a standardized e-invoice service and it’s Trading Partner Network; guaranteeing a minimum of 80% of all suppliers routing their invoices through the Network. Pandell provides the integration with all e-invoices, automatic data entry into the invoice management system, approval routing, validation controls, and direct submission into JVNexus. Combined, the solution can lower the administrative costs of traditional accounts payable processes by as much as 40%.
“We are very excited to be working with Cortex to offer this new, value-adding solution to our JVNexus clients,” says Greg Chudiak, Pandell’s President and CEO. “The end-to-end system will enable our clients to gain a more transparent A/P process, improve their cash-flow visibility, introduce solid auditing controls, and overall − improve their invoice management efficiencies.”
Two Proven Business Systems Experts Come Together For a Complete Solution
Cortex's E-invoicing Service
With a current supplier network of over 6,000 vendors, Cortex's e-invoicing system gets invoices from your suppliers to you, fast. Supplier on-boarding includes recruitment, training, set-up and support, at no cost to you. Cortex's low cost, low risk services connect seamlessly to Pandell's workflow solution, eliminating complex manual processes and providing a whole level of financial control to organizations.
Pandell's Invoice Manager
Receiving your invoices digitally is only half of your solution. The next steps in your A/P processing includes routing each invoice to the right person, getting it approved, and booking it into your financial system. Pandell's A/P workflow engine automates this entire process and adds value through automatic data entry & validation, dispute resolution, invoice status tracking, and reporting.
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Pandell is a leader in delivering Software-as-a-Service (SaaS) solutions to 500+ energy companies in Canada, the USA, and abroad. Our customers range from startups to major enterprises across the energy sector including upstream oil & gas, midstream facilities, oilfield services, land brokers, pipelines, utilities, mining, and renewable energy. Our cloud-hosted product suite helps finance, land, and operations teams run their business more effectively; while our enterprise division builds and manages large-scale web portal applications that facilitate work across organizations. Combining the strength of our industry experience, ground-breaking Lithium™ technology, and practical software subscription model, we are Crafting the Future of Energy Software.