OpenInvoice and Spendworks Get Their First Updates Released by Oildex to Enhance Supplier Engagement

By CIOReview | Tuesday, September 1, 2015

FREMONT, CA: Oildex, a cloud-based financial supply chain automation solution in the oil and gas industry, announces updated versions of both OpenInvoice and Spendworks software. The releases are the first updates to the products since Oildex acquired the Procure-to-Pay (P2P) business and the OpenInvoice product from Automatic Data Processing (ADP).

The primary motive of OpenInvoice release (15.2) is to enhance supplier engagement with the OpenInvoice platform. It improves collaboration and communication with buyers, which ultimately increases the size of the supplier network, especially for suppliers who submit paper invoices to buyers using OpenInvoice. It provides the benefit of real-time visibility into the invoice processing cycle.

The enhancement allows OpenInvoice to automatically send an email to the supplier to alert them when a paper invoice is received by a buyer. The supplier can then simply click on a link to see the status of the invoice, whether it has been submitted, processed, approved and/or paid. Moreover, it is a mobile friendly feature as the suppliers get updates on invoices from virtually anywhere. Registered suppliers enabled for scanning invoices can create and submit invoices directly from their mobile device.

Oildex also released Spendworks version 4.11.1 for Spendworks customers. It includes the addition of performance enhancements, data security and other work specific to customer engagement.