Market Overview

Latest Verian Software Release Enhances Materials Transfer Capabilities


Leading P2P Automation Provider Advances Dedicated Solutions for the E&P Industry.

Charlotte, NC (PRWEB) November 05, 2012

Verian, the leading provider of purchasing and inventory automation software to the E&P industry, has released enhancements to its software suite that simplify and expedite the process of materials transfers, one of the most critical challenges facing oil and gas companies worldwide.

Accounting for tubular product movements is a time-consuming manual process for many E&P companies. It is not uncommon for companies to track asset transfers with spreadsheets and manual journal entries. Approving materials transfers is a manual paper chase. These inefficient processes result in not only limited auditability, but also limited visibility into where inventory is located and what inventory is present at specific yards, well sites or warehouses. Long lag times and limited visibility can lead to unnecessary spending, inaccurate well financials, and over budget projects.

Verian has worked with oil and gas companies for a number of years to help automate their materials transfer processes. Verian's dedicated Materials Transfer Manager™ module provides pinpoint accuracy into inventory location, as well as detailed cost, condition, value, and clean history of where all of a company's assets have been. Verian's latest enhancements to this targeted software solution provide some of the following advantages:

  • The end user experience is simplified, so that initiating a materials transfer process is much like ordering items from a vendor, which helps with faster adoption in the field.
The system now supports tracking materials in the yard, on the truck, and at the well. The system also tracks the materials condition code. In addition, the system now supports tracking average weighted cost for material based on its assigned condition


“Customer feedback for our recent materials transfer enhancements has been very positive”, said Tehseen Ali Dahya, President and CEO of Verian, “We will continue to factor this feedback into refining our software solutions, so our E&P customers can operate more efficiently, reducing their costs, and boosting their profitability.”

About Verian

Verian is the leader in universal purchasing and invoice processing systems. Founded in 1997 with headquarters in Charlotte, NC, Verian helps clients in a wide array of industries control spending and enhance visibility by providing them with a single software platform to automate their entire purchase-to-pay process. Verian's broad and flexible product offering provides affordable, easy-to-use solutions that fit companies now – and when they change. Notable customers in industry segments such as energy, including oil & gas, retail, industrial, healthcare, financial services, government/non-profit and many others all trust Verian for intelligent purchase-to-pay automation solutions. Learn more at

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