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Code-Rite has developed a data integrity solution for helping operators and vendors manage and track cost information. This solution is comprised of three modules. Each module connects with the next while having multiple points of entry. Operators and suppliers can become more efficient using the modules and still maintain other existing practices if needed, all the while maintaining data integrity.
The first module, the Field Coding Module, allows field supervisors to quickly enter estimated costs and attach coding and wellsite information. The field supervisor, using this module, prints out a barcoded label which is then affixed to the field ticket which is then hand back to the vendor.
Vendors then can use the second module, the Invoice Processing Module, to easily associate the coding and wellsite information on the label with invoices based on these field tickets. The vendor can continue to create invoices with existing systems, such as Quickbooks. Then, the vendor scans the barcoded field tickets into the Invoice Processing Module and associates them with existing invoices. He or she can then submit the invoice and field tickets to the operator's electronic invoicing system or send by fax, mail, or email.
Using Code-Rite Pivot Tables, office approvers can view cost data captured in the field to track spending and reconcile actual costs on invoice with initial field estimates. Created in Excel, these Pivot Tables allow approvers shape and filter data according to their needs to pull this data easily into reports and presentations quite easily.
The third module, the Financial Upload Module, produces the largest benefit for an operator and its vendors. This module collects coded invoices and field tickets, gathered from the Invoice Processing Module or other in-house sources, and routes them to the correct approver based on operator rules. Once approved the invoice information is then uploaded into the operator's existing accounting or ERP systems, such as SAP.