Oil and Gas Accounting Software: SaaS Company Successfully Launches New Product
Oil and Gas Accounting Software: SaaS Company Successfully Launches New Product
Enverus oil and gas accounting software automates oilfield and back office accounting functions for upstream and midstream businesses, increasing productivity and responsiveness.
Our business automation solutions transform oil & gas field ticket and invoice processing operations to maximize profitability by improving efficiency and increasing cost savings.
About Oildex
As a leader in financial operations, Oildex manages the largest business network in the oil and gas industry. They offer a full suite of financial supply chain automation solutions, including collaborative workflow software and secure digital data exchange services. The intent was to position Oildex in the market for sales or M&A.
Launching OpenInvoice Supplier Link
Oildex has developed the best oil and gas accounting software for the oil and gas industry. So success, ENVERUS bought the company.
Their primary accounts payable system, OpenInvoice, is a cloud-based collaboration solution tailor-made to simplify and automate complex finance and field operation processes. But, they realized their supplier market engaged with the SaaS solution was getting a different utilization from the system than their buyers.
OpenInvoice suppliers were at the whim of their collaborative buyers. They faced double-invoice entry issues that caused errors, wasted time, and reduced cash flow. They needed an add-on allowing suppliers to take invoices from their native systems and automatically transfer them into the OpenInvoice buyer database.
New Product Launch: Introducing OpenInvoice Supplier Link
After listening to their suppliers, it became apparent that Oildex needed an add-on that allowed buyers and suppliers to interact and exchange invoices seamlessly. OpenInvoice Supplier Link is the add-on Oildex developed to streamline the accounts receivable process for their suppliers.
Because buyers and suppliers interacted with their software very differently, Oildex understood the importance of addressing their new target audience with a unique message.
However, there needed to be a strategic vision to launch OpenInvoice Supplier Link to the market.
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Product Sheet
Product sheets are important for businesses as they provide information about their products to potential customers. Product sheets can be used for various purposes, such as informing potential customers about the product specifications and features, providing helpful visuals to showcase the product in greater detail, and helping to increase customer interest in a product.
OpenInvoice Supplier Link was a new software add-on with no supporting content anywhere. For prospects on the edge of making a purchase or scheduling a demo, Oildex needed top-of-the-funnel content to relay the right information.
This product sheet was made available during pre-launch efforts to boost awareness and gauge interest. This allowed Oildex to craft a separate email drip campaign for the suppliers who showed initial engagement.
Product Sheet
Product sheets are important for businesses as they provide information about their products to potential customers. Product sheets can be used for various purposes, such as informing potential customers about the product specifications and features, providing helpful visuals to showcase the product in greater detail, and helping to increase customer interest in a product.
OpenInvoice Supplier Link was a new software add-on with no supporting content anywhere. For prospects on the edge of making a purchase or scheduling a demo, Oildex needed top-of-the-funnel content to relay the right information.
This product sheet was made available during pre-launch efforts to boost awareness and gauge interest. This allowed Oildex to craft a separate email drip campaign for the suppliers who showed initial engagement.
Demo and Explainer Video
Demo videos are incredibly important for businesses, as they effectively communicate a product’s or service’s value to potential customers.
Demo videos showcase how a product works in action, which can be much more powerful than simply reading about its features and benefits. They can also explain complex concepts and processes quickly and clearly.
It’s easier to communicate what a new product add-on can do with visual representation. To overcome this, we included a quick two-minute demo video providing suppliers with enough guidance to see how easy OpenInvoice Supplier Link is to use.
Landing Pages
Landing pages were built in Pardot to capture visitor information and gauge prospect interest. The pre-launch landing page was implemented to identify which suppliers had an immediate need for OpenInvoice Supplier Link.
This allowed us to design a unique email campaign built around their engagement level. The second landing page was built as a lead magnet for the OpenInvoice Supplier Link 60-day demo.
With Pardot in play, we decided to approach these critical lead-generation avenues:
- Public Relations
- Blogging
- Content Creation
- Social Media
- Remarketing
- Email Outreach
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General FAQs
What is Oil and Gas Accounting Software?
Oil and Gas Accounting Software is a specialized type of software designed to help companies in the oil and gas industry manage their finances, including tracking expenses, preparing financial statements, and creating reports. This software can help streamline collecting data from various sources and provide an accurate, comprehensive view of a company’s financials.
How does Oil and Gas Accounting Software benefit businesses?
Oil and Gas Accounting Software provides companies in the oil and gas industry with an efficient way to track their financial activities. This software makes it easier for businesses to make informed decisions about investments, pricing strategies, budgeting, taxes, and other important tasks related to managing finances. Additionally, by automating many tedious manual tasks associated with accounting, this software can help reduce labor costs.
What features should I look for when choosing Oil and Gas Accounting Software?
When selecting Oil and Gas Accounting Software, you should consider features such as data accuracy and reliability, user-friendly interface, integrations with other software, scalability, and customer support. Additionally, it is important to ensure that the software you choose can handle your company’s specific needs, such as international accounting standards compliance and multi-currency transactions.
How much does Oil and Gas Accounting Software cost?
The cost of Oil and Gas Accounting Software depends on several factors, including the software’s features, the size of your business, and the service provider you choose. Generally, prices range from a few hundred dollars for basic plans to several thousand dollars for enterprise-level solutions. It is important to compare different options before selecting an appropriate solution for your business.