The Compliant Blog

Many oil and gas companies use SAP and a subset of these have implemented the Service Entry Sheet (SES) module to manage field ticket data from service providers. At first glance, using SES may seem like a possible approach to storing field ticket data in a format that can be compared and analyzed against other data like invoices and price books to ensure compliance. Unfortunately there are still a number of issues inherent in this approach which allow for high levels of non-

The Cost of Duplicate Invoices and Why Prevention Is Better Than Audits Duplicate invoices might be a small percentage of non-compliance, but their impact is costly and completely avoidable. According to the Institute of Finance and Management (IOFM) , up to 3.6% of invoices  processed by large companies are duplicates. For E&P companies handling tens of thousands of invoices annually, that can translate into millions of dollars in unnecessary payments. Of course many of the

The oil and gas industry is expected to do more with less, and that means every dollar counts. Even small improvements in spend, applied across the entire organization, can translate to huge savings that flow straight to the bottom line. Still, many companies rely on year-end audits to catch non-compliant invoices from suppliers. This strategy may seem effective but carries numerous financial and operational risks. End-of-year audits require extensive labor, often pulling fin