The oilfield services industry spends millions of dollars a year generating and processing invoices. Tools and processes that optimize and automate elements of the invoicing process have the potential for a big payoff in a reduction in DSO.
The reduction in DSO is a valuable barometer for efficiency gains. This white paper delves into how OFS firms can reduce DSO by:
- Implementing an electronic system to capture service ticket data is one of the best ways to reduce days sales outstanding
- Automating and increasing customer interaction can lead to higher approval rates and more orders
- Making it easier for field personnel to collaborate with back office staff