Overview of BX OperatorConnect
BX OperatorConnect is a fully managed Web-based data exchange service that enables Oil & Gas Operators to send and receive P2P business documents such as orders, invoices and remittance documents. It takes P2P trading documents from both Oil & Gas Operators and their Suppliers then translates them to the trading partner’s desired format for accounting integration, which can generate huge savings and efficiencies for both partners.
Actian Business Xchange has been providing electronic invoice, purchase order and B2B document exchange services for over 25 years. We realize that one of the major components to P2P initiatives within the Oil & Gas Industry is the end-to-end onboarding process.
Twenty-five years of experience in AP automation has given Actian a unique advantage in dealing with, and providing cost- effective solutions, to the many challenges that Oil & Gas Operators face when trying to reduce Days Payables Outstanding (DPO) and automate many inefficient Procure to Pay (P2P) processes.
BX OperatorConnect utilizes the BX Onboarding feature to significantly reduce supplier onboarding times. In certain cases we have reduced the onboarding process by as much as 80 percent, which represents a significant win for Operators.
BX Onboarding is a combination of technology, process and people with over a decade of experience specific to the Oil and Gas industry.
Common Challenges and Issues facing Oil & Gas Operators
The main challenges and issues that affect Oil & Gas Operators include:
- Inefficient processing of orders, invoices and payment remittance documents
- Failure to adhere to Supplier payment terms
- Potential of negative relationships developing with Suppliers
Oil & Gas Operators are continually striving to build better relationships with their Suppliers. There are a number of ways to improve this relationship, including: better communication, sharing best practices, higher performance levels, and better health and safety records. That said, one of the main challenges remaining within this relationship is delays with Supplier invoice payments. These delays come up time and time again at quarterly performance reviews.
Operator payment terms specified in Supplier contracts are usually 30 days, 45 days or even 60 days. Whatever the terms, this figure is seldom met on a consistent basis. While there are a number of reasons why this pain point exists, it always falls back to inefficiencies in the AP process and its infrastructure shortcomings. The AP departments are monitored by KPIs such as Days Payables Outstanding (DPO). And while they strive for meeting their targets, the Operator Supplier charter fails to live up to its obligations.
An additional challenge is the potential for a high DPO that is consistently beyond the agreed terms negatively impacting relations with Suppliers. Reducing this DPO figure has huge potential to improve such Supplier relations.
To view more issues and challenges faced by stakeholders, click on the relevant link below.
Benefits of BX OperatorConnect
The main benefits of BX OperatorConnect have been carefully planned and developed with 25 years of close cooperation with our Operators.
Oil & Gas Suppliers like using Pervasive BX OperatorConnect for a number of reasons:
- BX OperatorConnect helps speed up the AP automation process through electronic B2B document exchange
- BX OperatorConnect reduces unnecessary costs within AP process, including rework, validation and error processing
- Supplier experience improved efficiencies and free up AP and IT resources
- BX OperatorConnect provides a communication and information sharing layer to make information visible to Suppliers
- BX OperatorConnect speeds up the P2P Cycle through DPO reduction
- BX OperatorConnect improves the Operator and Supplier relationship through better alignment of DPO and actual terms agreed
To view role specific benefits from BX OperatorConnect by Stakeholders click on the relevant link below.
Features of BX OperatorConnect
The main features of BX OperatorConnect include:
- Automatic document transfer with the ability to receive and deliver your documents in your trading partners’ preferred file format (PIDX, EDI, SAP iDoc, XML, CSV, etc.)
- Batch file processing offering the ability to either transmit documents in batches or by upload facility
- Custom validations, including three-way document match
- Prior to delivery, specified fields in the transaction are checked against information contained in validation tables
- Validation checks can also include required field checks, data type checks, in balance checks, and other more customized validations
- 24/7 account information monitoring, order status, invoice detail reports, and purchase history records for you and your trading partners
- Modern communication and community capabilities for expediting onboarding and workflow resolution
- Efficient and proven methodology for fast onboarding of trading partners
- Auto archive capability extendable to many years
- KPI Dashboards for tracking a range of P2P metrics, including orders, invoices and remittance processing times and associated KPI trends
For a full overview of BX OperatorConnect modules:
New Technologies and the Impact of PIDX Standards
As Operators explore and adopt new technologies and streamline the AP process, they are increasingly looking ways to bring further efficiencies and AP cost savings – even mandating that Suppliers be able to conform to standards such as PIDX for streamlining the data transfer of field tickets, orders, invoices, payment remittance, and a myriad of other documents. The PIDX standard used in combination with the elimination of inefficient stages in document flow, gives AP departments a far better chance of reducing the gap between DPO and Net Supplier terms, thereby meeting the DPO KPI targets.
As well as helping reducing the DSO/DPO gap, the PIDX standard offers further savings for the internal IT team responsible for implementing, automating, and supporting the AP systems. Pervasive customers have achieved up to 80 percent faster enablement of their Suppliers as a result of the unique methodologies and best practices Pervasive adopts when implementing BX OperatorConnect for Operators using the PIDX standard.
BX OperatorConnect uses a wide range of PIDX standards. For a full list of Supported PIDX Standards click below.