Welcome to PakEnergy
If you are unfamiliar with PakEnergy – let us tell you about ourselves! PakEnergy offers cloud-based business automation software for independent upstream and midstream oil & gas companies. PakEnergy automates the most complex business processes to reduce operating costs, save time, and increase profitability while providing customers with reporting, analytics, and decision support systems that were once exclusive to the major integrated oil companies. PakEnergy’s solutions help clients manage land, production, accounting, and transportation and serve over 2,000 customers, including E&P operators, crude oil purchasers, transporters, haulers, investors, and accounting firms. To learn more about PakEnergy and our various platforms, please visit https://pakenergy.com.
Pak Exchange is an ecosystem of vendors, owners, partners, and investors providing secure, real-time collaboration and processing. Exchange boasts streamlined workflows for touchless approvals while avoiding processing delays and frustration. Pak Exchange is a secure network for operators, first purchasers, and service companies to manage/exchange invoices, division orders, run statements, owner statements, 1099s, W9s, insurance certificates, and change of address forms faster, better, and more efficiently.
Benefits to Vendors
Exchange increases the speed and ease of processing invoices and allows vendors to easily keep track of where invoices are in the approval process. Automating the AP process benefits vendors immediately by saving money on printing supplies, envelopes, postage, and especially your most valuable resource, time. No more folding and stuffing envelopes! The key advantage of using Exchange is that the uploaded document is sent directly to the connected party, typically in a matter of seconds rather than days. No more wondering if or when your invoice is received because you will be able to log in and see the status at any time after submission.
PakExchange also boasts Optical Character Recognition technology - OCR. OCR technology will help facilitate the input process by reading and then remembering the location of details on an invoice. The more invoices that go through the system, the smarter Exchange becomes, making input time less and less.
What to Expect from Your Purchaser
To begin the connection process, the purchaser must send an invitation via e-mail address to
the person who will be the main administrative user on the Exchange account. It is important
to know who the administrative user for Pak Exchange will be. The invitation e-mail is sent to this administrative user only. Don’t worry – many users can be added to Pak Exchange along with many other options that will help you and your company succeed with Pak Exchange.