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December 31st, 2014 | CIOReview.com | CIO Viewpoint

20 Most Promising Oil & Gas Technology Solution Providers

The Oil and Gas industry plays an indispensible role in facilitating business across various verticals with timely and adequate resources. Volatile market conditions, economic downswing, and increasing costs inadvertently persist as imminent challenges in the oil and gas sector. In recent times, there is a surging incidence of oil and gas companies deploying technology and software solutions such as cloud computing, virtualization applications, database services and tools for intelligent repair and monitoring. Furthermore, these solutions not just cater to the transient needs of the organizations but, also help them adhere to government regulations, reduce pollution and wastage that damage environment and human health, conserve resources and operational expenditure. However, many CIOs find it extremely challenging to navigate into the complex and fragmented oil and gas landscape when looking for service providers to aid them with consulting, implementation, and support.

 

In this edition of CIO Review, we bring to you “The 20 Most Promising Oil and Gas Technology Solution Providers of 2014,” featuring the best solution and service providers offering tools and services available on the oil and gas platform. The companies listed here showcase extensive business knowledge and innovative strategies combined with talent base across locations.

 

A distinguished panel comprising of CEOs, CIOs, CMOs, VCs, analysts and CIO Review editorial board has selected the top players from over three hundred companies. The listing provides a look into how these solutions work in the real world, so that you can gain a comprehensive understanding of what technologies are available, which are right for you, and how they shape up against the competition.

 

Oil and gas companies are constantly fighting margin pressures due to the declining price of oil, market volatility, capitalintensive projects and ever-changing regulations. Inefficient financial processes have emerged as a major opportunity for companies to cut costs and operate more efficiently. There is also a desire to gain more control and compliance, and companies need to know what they are buying, who they are buying it from, what price and if the appropriate approval was granted.

 

Another factor affecting this sector is that a large percentage of employees are operating remotely and don’t want to be tethered to a desk. The inability to handle business processes remotely often results in greatly increased approval times– often exceeding 45 days–and strained supplier relationships.

 

“Coupa’s solutions enable oil and gas companies to quickly address inefficient financial processes and cut costs, all while meeting industry regulations and standards like PIDX,” says Rob Bernshteyn, CEO, Coupa.

 

Coupa offers a full suite of cloud-based spend management solutions built on one organically grown platform. The company’s solution makes it easy for customers to get visibility and control over every way spend happens in their organizations, to improving compliance and increasing savings across the board. This is a completely different approach than its competitor, who may satisfy only a portion of the source-topay process or offer a hodgepodge of bolted-on solutions due to acquisitions.

 

Coupa’s solution provides a complete audit trail of who approved the purchase and when. The company can also ensure that the invoice matches with the contracted pricing to make certain that no client is overpaying. Coupa’s spend management platform enables companies to have real-time visibility of all spend (i.e. by product, supplier, region, location or employee) which empowers the organizations to negotiate better pricing.

 

Coupa also offers advanced reporting and analytics to view spending vs. authorization for expenditure (AFE) to ensure customers stay within their budgets. Running natively on any mobile device, Coupa enables field personnel to easily review and approve invoices, thereby speeding the approval process.

 

The company is seeing a great deal of traction and rapidly growing pipeline of opportunities in the oil and gas industry despite being a relatively new entrant to this market. Coupa already boasts an impressive client list including upstream E&P company Freeport-McMoran Oil and Gas, while also signing new customers in the midstream industry such as NPL Construction–a growing pipeline construction company.

 

On one occasion, Freeport McMoran Oil and Gas’s Accounts Payable department was struggling to keep up with the growing amount of paper invoices received from their suppliers. They were looking for a solution to enable their suppliers to interact electronically to eliminate many of the phone calls or emails looking for the status of checks or disputes. Freeport also wanted one solution to handle both non-PO and PO-backed approval workflow.

 

Additionally, Field Engineers and Site Superintendents wanted the ability to approve invoices from their mobile devices with the goal of eliminating those weekend nights reviewing a stack of hundreds of invoices. After adopting Coupa’s cloud-based solution, the customer achieved quick time to value and low total cost of ownership due to quick employee adoption of the system with little IT involvement, having the ability for a business user to create reports and workflows. Coupa leads the industry in usability to ensure quick user adoption from non-IT savvy employees. The company also uniquely solves the supplier invoicing challenge by offering flexible options for all suppliers to interact with buyers–often where an enablement or registration is not even required.

 

“We have created the next generation of the supplier network so that buyers and suppliers can transact easily regardless of technology platform and with no supplier fees–unlike our competitors,” concludes Bernshteyn.

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December 18th, 2014 | Derek du Preez | Diginomica

TD Direct Investing rolls out Coupa to get to grips with spending

TD Direct Investing has rolled out Coupa to get to grips with its spending – savings are being made and procurement is getting control of costs as a result

 

TD Direct Investing is a UK-based offshoot of the very large Toronto Dominion Bank in North America and provides online share trading to customers. Although TD Direct, by its very nature, is very used to handling and managing all things money related – up until a couple of years ago its internal spend management systems were in desperate need of an overhaul.

 

Senior relationship manager at TD, Jon Utley, who looks after all third-party relationships, procurement, vendor management and contract management, explains that when he joined the procurement team it was very small and all procurement processes were carried out manually using Excel.

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October 21st, 2014 | Nancy Clinton | Spend Matters UK/Europe

Coupa Inspire EMEA — Announcements and Customer Comments

 

In part two of our review (see part 1 here) of last week’s Coupa Inspire event, we look at the important messages …

 

In true Coupa style, they made the most of the opportunity to coincide their first EMEA user conference with some big announcements, sending the press releases out that morning.

 

Firstly: Coupa EMEA posts record growth as global enterprises and partners embrace the Coupa Cloud Suite. EMEA is Coupa’s fastest-growing region with 250% YOY revenue growth, 9 new partners in one quarter, a worldwide customer support centre in Dublin to support EMEA operations and

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October 20th, 2014 | Nancy Clinton | Spend Matters UK/Europe

Coupa Inspire EMEA and 3 Announcements: Record Growth, Version 12 and a New Partner

 

Now, I would normally tweet live from an event, but at Coupa Inspire on Thursday last week there was so much to take in, visuals, music (loved the music, especially Alex Kleiner giving his keynote address to – who’d have thought – Metallica), lights, buzz, and more customers taking the stage than I’ve ever witnessed before, that I genuinely didn’t get time. It really did feel a bit like being on a set: “Lights! Camera! Sound! Action! and then the whole thing exploded! In fact there is so much to report back on, that you may have to look out for some additional posts

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October 9th, 2014 | ComputerWeekly.com | TechTarget

Application integration demands a light touch in the cloud

The appeal of cloud applications is irrepressible. Low capital costs, flexibility and “free” upgrades – anyone who has experienced behemoth on-premise application upgrades can be easily swayed by the appeal. 

 

Last year, IDC forecast that from 2013 to 2017 spending on public IT cloud services would enjoy a compound annual growth rate of 24% – five times that of the

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September 8th, 2014 | Ilene MacDonald | FierceHealthFinance

Molina Healthcare's new centralized procurement operation saves time, money

Accounts payable (AP) and the cloud may hold the secret to providing quality healthcare.

 

At least that's what Molina Healthcare--an organization that provides healthcare to financially vulnerable families and individuals covered by government programs--discovered when it created an in-house centralized procurement operation, a move that kept administrative costs down while it expanded staff and membership.

 

Rapid growth was the main reason the Long Beach, California-based organization, which offers health plans in nine states and has medical clinics in California, Florida, New Mexico, Virginia, Washington and Utah, decided to centralize the process, Bryce Berg, vice president of corporate administration (pictured right), told FierceHealthFinance in an exclusive interview.

 

When Berg came to Molina in 2010, the organization was experiencing

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September 4th, 2014 | Proquest LLC | Insurance News Net

Molina Healthcare's Bryce Berg Gets Coupa Innovation Leaders Award

Coupa Software reported that Bryce Berg, Molina Healthcare's Vice President of Corporate Administration, has won Coupa's Innovation Leaders Award in Healthcare.

 

The company said that the award recognizes Berg's successful transformation of Molina's procurement sourcing and invoicing processes, an initiative that has facilitated Molina's growth.

 

According to a release from the company, the Coupa Innovation Leaders Award recognizes

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September 2nd, 2014 | Stuart Lauchlan | Diginomica

Coupa’s Irish eyes are smiling as global customer support moves to Europe

California-based spend management firm Coupa is shifting its global customer support operation to Dublin, Ireland as it looks to be perceived as an international player

 

One thing the Irish government has done well is prove to be an attractive destination for US tech companies – and increasingly cloud companies in particular – to set up their European headquarters. Last week, for example, Derek highlighted Birst as being the latest to join the likes of Google and Amazon in the Emerald Isle.

 

But none of those firms has done what spend management firm Coupa has just done which is to route its entire global customer support operation through Dublin.

 

In addition, Kieran Brady of Coupa Dublin has been

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June 25th, 2014 | Jason Busch | Spend Matters

Coupa Inventory: Expanding the P2P Value Proposition and Surrounding Core Financials

 

Earlier this spring, Coupa provided a briefing and demonstrated a version of its latest inventory module to Spend Matters. Coupa sells its inventory module as an add-on to core procurement but separately from accounts payable, contracts management, and other suite components. But the question remains: in its initial release, does it provide enough value to justify the added cost and modular expansion for companies using other Coupa suite components?

 

After seeing it, Chief Research Officer Pierre Mitchell and Managing Director Jason Busch argue in this Spend Matters PRO research brief that Coupa’s new inventory management capabilities are likely to bring the company closer to marginalizing the

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May 27th, 2014 | Paul Demery | InternetRetailer.com

An online procurement system slashes costs for a health care company

 

With a new online procurement system for stocking its 55 health care facilities with supplies ranging from medical equipment to cleaning supplies, Avalon Health Care is saving money while also slashing the time it takes to receive supplies.

 

With 330 people buying supplies across its 55 health care facilities in several 

 

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