Basic Energy Services
From well services to water logistics to completions, Basic Energy Services provides a wide range of production services to oil and natural gas producing companies in the United States.
The challenge – slow onboarding process, and negative impact on DSO due to weeks of downtime while processing invoices
The Basic Energy Services (BES) AR Department used to process an average of 15,000 invoices each month. They originally had an in-house approach to e-invoice automation that consisted of operating a middleware as a B2B gateway and contracting outside consultants to perform invoice mapping to each separate high volume/value EDI customer. The onboarding process was slow, painful and frustrating. An entire new map had to be created for each additional trading partner. Further, it required outside resources for application support and troubleshooting to solve any production interruptions.
In addition, the system also required costly external consulting fees to address changes in customer needs, as well as weeks of downtime in processing the outbound invoices with negative impact on DSO. BES needed a more efficient, dependable and scalable way to integrate with their 80 trading partners.
Challenges
- BES wanted to transition from their internal (self-managed) solution to a fully outsourced and managed solution without any disruption to their AR invoicing flow
- BES wanted to transition 80 trading partners to Augmented Invoice within 6 months
- BES also wanted to exchange various business documents with its two lead banks
The solution
- Fast transition and implementation process
- Prioritized onboarding strategy designed for maximum velocity
- BES could use most of its existing data extract from their SAP system with little to no change
In transitioning to Augmented Invoice, Basic Energy Services alleviated the pain points caused by an inefficient internal solution that was putting customer satisfaction at risk. Sidetrade’s capability to seamlessly deliver errorless invoices with all 80 trading partners and consolidate file exchanges into one easy solution helped BES to focus on their core business operations. In addition to the savings generated by a speedy implementation, increased efficiency and elimination of costly external resources BES, also reduced FTE’s by 7 and decreased invoice errors by 50%. The economic merits justifying a business case for this project made the decision an easy one.
