DOB Energy Excellence Awards Name Pandell’s Financial Software Suite in Top Five Digital Oilfield Technologies

May 09 2019 | Corporate

During JWN’s first Daily Oil Bulletin Energy Excellence Awards event held on May 2nd in Calgary, Pandell was honored as a finalist in the category of innovative digital oilfield technologies.

The digital oilfield category focused on technology brought to market in 2018 that has been readily adopted by industry and shown to reduce costs, improve productivity, enhance safety, and benefit the environment.

“We’re pleased to be recognized for helping the oil patch spend less time worrying about their back-office operations, and more time doing the things that make their businesses profitable,” says Greg Chudiak, Pandell’s President and CEO. “We will continue to talk with our customers and industry experts to actively find new ways to streamline their business processes.”

Hats off to Pandell’s category peer finalists; GuildOne, Hifi Engineering, and VizworX, in their pursuit of digital oilfield excellence; and congratulations to Osprey Informatics for achieving top honors in the digital oilfield category.

Over 90 nominees from across Canada’s energy industry were evaluated by the program for operational, innovation and exporting excellence.

Pandell’s End-to-End Financial Suite

A key to gaining business efficiency is to streamline your systems. Pandell’s financial software suite connects all the dots in your accounting channel from the field to head office. It includes four web-based Pandell systems: Jobutrax (field ticketing), VP (invoicing portal), AP (accounts payable), and JV (financial accounting). Together these systems facilitate fast, accurate, transparent accounting workflow across energy organizations and their vendors.

Besides sharing modern UI and innovative features that make it easy to zip through daily work, the systems share high-tech intelligence, centralized validation tools, and multi-level integrations that ensure clean data from field ticket to invoice payment. Pandell’s end-to-end financial suite is a next-gen solution helping companies follow timeless good advice: work smarter, not harder.

System Role in Accounting Process
Pandell Jobutrax Vendor’s field staff create and approve field tickets using any digital device, then submit them to their financial accounting system for processing.
Pandell VP A vendor’s financial administrator opens their secure VP vendor portal on the web and follows easy steps to create and submit an invoice to their energy company client. Vendors can login to VP anytime to track the approval and payment status of their invoices.
Pandell AP Invoices submitted through VP appear immediately in the energy company’s AP system, where customized intelligent workflow guides the invoice through appropriate digital approval channels.
Pandell JV

Once an invoice is approved, a voucher gets posted from AP to the energy company’s JV financial system. Auditors and JV users can drill down to see any details of an invoice in AP.

Reminder: throughout the accounting process, validation tools and controls extend from JV to the other systems ensuring proper invoice codes are applied and that all necessary information is provided.

The diagram below shows the digital accounting workflow between a vendor and an energy company using Pandell’s end-to-end financial suite.

Diagram illustrating the accounting workflow between a vendor and an energy company using Pandell's end-to-end financial suite

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Diagram illustrating the accounting workflow between a vendor and an energy company using Pandell's end-to-end financial suite

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About JWN Energy

For over 82 years, JuneWarren-Nickle’s Energy Group (JWN Energy or JWN) has provided energy professionals with daily news, data and analysis specific to Canada’s evolving energy landscape. Used by members daily, JWN's suite of products support daily decision-making, identify business opportunities, and allow users to be part of the ongoing energy conversation.

About Pandell

Pandell is an industry 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 energy sectors including oil & gas, pipelines, utilities, mining, and renewable energy. Our cloud-hosted product suite helps finance, land, and field operations 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, Lithium™ technology, and practical software subscription model, we are Crafting the Future of Energy Software.