Oil and Gas: Drill into More Savings

Do you know what you’re buying, who you’re buying it from, and what prices you’re paying? Do you know where your OCTG inventory is, or when all your assets require maintenance? Do you know where you are against budget for your AFEs? Rather than continuing to struggle with these issues, bring Verian’s considerable experience to bear to help you gain visibility and control of your spending, which in turn will increase the profit on every barrel you sell.

How it Works

Verian Oil and Gas Procurement Suite (O&G) helps Exploration and Production (E&P) companies reduce costs and boost profitability – even as the prices of crude oil fluctuate – by automating the entire Purchase-to-Pay (P2P) cycle.

Verian supports the diverse needs of field offices in these de-centralized organizations through:

  • Full automation of contract compliance, price book validation, requisitioning, approval workflow, purchasing, invoice processing, and travel and expense reporting for total P2P management
  • Material Transfer (MT) functionality tailored to the O&G industry for moving, tracking, and proper financial accounting of material used in the field
  • Mobile capabilities to simplify approvals and expensing for an on-the-go workforce
  • Inventory and asset management for maintaining supplies and equipment

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Whether in pre-spud or post-spud operations, our system makes purchasing easier and more controllable, with much less hassle and headaches. You can:

  • Allow field users to enter free-form requests or order from online catalogs for supplies and services
  • Create and manage RFQs to ensure competitive bids
  • Instantly access all field inventory
  • Automatically schedule and track maintenance and repairs
  • Gain complete visibility to all cash commitments from any computer or smart phone

Inventory Management & Materials Transfer

For many O&G companies, inventory transfers and materials management is a reactive effort of guesswork and spreadsheet manipulation. Our solution gives you more than just pinpoint accuracy into inventory location – you also get detailed cost tracking at your fingertips to:

  • Delineate your goods as inventory or assets at the point of receiving
  • Track the location and fluctuating costs of inventory as it moves in and out of fabrication, retooling or well-site usage
  • Have instant access to real-time inventory data including: transfers, adjustments, cycle counts and full physical inventory counts
  • Set reorder points so that replenishments are automatically ordered and shipped


With a global, mobile O&G workforce, paper approvals are too hard to manage, route and track. Instead of paper getting lost in the shuffle or languishing on desks, our system automatically routes approvals via email and mobile devices with:

  • Approval request emails that include full visibility into real-time budget/AFE status
  • Integration with handheld devices for mobile notifications and alerts
  • Visibility into approval bottlenecks to see who is holding up the process

Inventory Management & Materials Transfer

Our procurement and materials management automation system houses all your spend data in one place, making it easy to generate reports and analytics in a matter of minutes. We offer a dashboard of analytics and KPIs including:

  • AFE budget vs. actual
  • Accrual (cash commitments) report
  • Spending by vendor
  • Spend by AFE
  • Spend by well
  • Category spend statistics
  • Inventory by location including price description, quantities, etc.
  • Part number history


At Verian, our mission is to make people’s lives easier and their work more valuable. Our core values are centered on customer success, cohesive teams, and stable, profitable growth. Our commitment to these values is why we deliver the most successful customer projects faster than anyone else.