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How a Major Petroleum Company Uses Value Creed’s CTRM Business Process Outsourcing for Their Invoice Backlog and Needed Fixes

The Main Challenge

A major petroleum company ran into bandwidth issues when moving between their existing CTRM platform and a new vendor. Our team had already been providing ad hoc services in data entry—however, Business Process Outsourcing (BPO) could bring the company’s goals to fruition more rapidly and effectively, and at a lower cost, by supplementing existing teams rather than replacing them.

Key Results

ZERO

Payable voucher backlog reduced from 700 in just 30 days

3 days

to reduce months-long vendor implementation issues

30 Minutes

to reduce invoice generate process from 4 hours

Business Process Outsourcing Solutions

Payable Vouchers Backlog Reduced

  • Our BPO team stepped in to not only handle the payable vouchers, but to validate and make adjustments as needed within their system.
  • This backlog was cleared within the month thanks to our 24/7 service model.

Facilitating The CTRM Transition

  • Our BPO team leveraged their experience with CTRM upgrades to get the transition finished within three days.
  • This included fixing pre-existing code to reduce the invoice generation process from 4 hours to approximately 30 minutes.

Meeting The Documentation Needs

  • the existing vendor lacked any documentation for their systems, leaving little direction for in-house teams.
  • With less than 2 hours of onboarding training, the company’s in-house specialists got our BPO team up to speed on their internal workflows.

Key Takeaways in Implementing BPO

The Business Process Outsourcing team worked alongside the company’s internal team to expand their capabilities and extend their needs.  For this reason the in-house and BPO staff enjoy working together, sharing resources, ideas, and solutions that solved problems in minutes and implemented long-term solutions in days, not months.

Value Creed Services Mobilized:

Business Process Outsourcing

Business process outsourcing utilizes our staff with a deep knowledge of CTRM services to handle complicated, routine, or custom tasks for a client’s business. BPO members know their processes inside and out, enabling them to run vital services and handle crucial processes without disruption to your business..

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Run Smart™ Expertise on Demand

An experienced team and sophisticated technology combine to deliver feature-rich functionality and operability. You pay only for the services you need when you need them.

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Recommended Resources

Learn more about how business process outsourcing adds value to your company in our blog series: “3 Ways Value Creed Is In Your Corner:”

Let Your Internal Teams Focus on What They Do Best

Value Creed’s BPO experts bring efficiency to your CTRM

Your IT team does its best work on challenging, creative tasks, centered around their key talents. Our Business Process Outsourcing experts can handle routine tasks and automate whatever’s standing in the way of your business objectives.

To get started, fill out the form below to start applying BPO success in your company.

CTRM Customization and Extension Migration for Diversified Energy Organization

Value Creed Solves Extension Migration Challenges

The client, a regional company providing upstream and midstream oil and natural gas services ontacted Value Creed when it encountered difficulties during its platform upgrade. Specifically, the company needed to overcome quality control and implementation issues. We delivered critical support for the client’s in-progress CTRM upgrade. 

KEY RESULTS

Mitigation Assurance from Day 1

Error-free Resolutions

No Protracted Training

Success After Vendor Failure

Responsive, Priority Service

Turning a Critical Concern Into a CTRM Success

The Challenge: Insufficient in-house resources and vendor support

Deep into its CTRM platform upgrade, the client saw one of its key people leave the organization, placing undue burden on its remaining IT technician. When the vendor failed to provide the support our needed to complete its PO installation. 

The Need: Migration Assurance for Custom Event scripts and Extensions

The company also needed help migrating several external class events and extensions that it had developed and written in-house to the new platform. The company felt the vendor’s quality assurance measures were not being implemented and resolved quickly enough. Value Creed stepped in to bring the upgrade online, creating multiple workarounds with the insight of CTRM/ETRM functional and technical expertise to keep the company’s traders and analysts productive.

The Value Creed Solution: Event Remediation and Prompt Response

In just two weeks, Value Creed solved their class event remediation and other critical issues. As will all our implementation projects, we hit the ground running, immediately assessed the situation, and picked up where the original provider had fallen short. As usual, our experts led, advised, and guided our partner’s internal team, extending their capabilities and ensuring seamless customer onboarding.

Value Creed Services Mobilized:

Run Smart™ Expertise on Demand

An experienced team and sophisticated technology combine to deliver feature-rich functionality and operability. You pay only for the services you need when you need them.

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CTRM/ETRM Upgrades & Enhancements

Customer-first service to bring your upgrades online quickly and seamlessly, with minimal disruption of your workflow. Dedication that outperforms vendors.

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Key Takeaways

360-degree Service; 1 Purpose; 0 Conflicts of Interest

This case highlights a common scenario. Value Creed more and more frequently is seeing projects initiated by vendors or purported “partners” who lack the resources and knowhow to complete them the the customers’ satisfaction. Value Creed mobilizes its resources to clean up the mess and cut through the snags. If you’re experiencing similar hang-ups or want to ensure they don’t delay your software upgrade, contact Value Creed today.

End-to-End ETRM/CTRM Vendor and Implementation Assistance

Value Creed has developed a comprehensive process for helping clients select ETRM/CTRM software vendors, holding them accountable, overseeing installation, integration, and testing, and optimizing the run-operation and reporting operational phases. These resources will help you streamline your next software upgrade and understand the many ways Value Creed can help:

Upgrade Your Software without Missing a Beat

Value Creed’s process eliminates the training period

We involve users from the beginning so they understand the software’s capabilities and interfaces. This compresses the learning curve and all but eliminates the weeks-long  training period that is “par for the course” for vendors and our competitors.

We can do the same for you! Contact us for a demonstration

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