Purchasing Software for Oil & 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 with purchasing software for Oil & Gas, which in turn will increase the profit on every barrel you sell.

Webinar: eliminate maverick spending with procurement software

How it Works

Verian’s purchasing software for Oil & Gas (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.

Purchasing software for O&G supports the diverse needs of field offices in these de-centralized organizations through:

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Whether in pre-spud or post-spud operations, purchasing software for Oil & Gas 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. Purchasing software for O&G 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 purchasing software for O&G 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. As part of the Basware family, we accomplish this by offering market-leading networked Purchase-to-Pay solutions, e-invoicing, and innovative financing services. As the largest open business network in the world, we connect businesses in over 100 countries and territories around the globe, enabling them to grow and unlock value across their operations. Small and large companies around the world achieve visibility and control over spending, significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers by simplifying and streamlining financial processes.