Workrise: Helping the Energy Sector Work Better Together
Workrise, the source-to-pay solution for the energy sector, has introduced a tool known as Workrise Vendor Management.
The product combines purpose-built software alongside expert services to reinvent the way energy operators, suppliers and field personnel collaborate in an effort to meet increasing energy demands seen across the world today.
Workrise is the source-to-pay solution built for energy. By combining purpose-built software with expert teams, it empowers the world’s leading energy companies and their suppliers to work better together.
The company partners with more than 300 energy firms in the US, from independents to supermajors. Workrise Vendor Management is the first in a series of products the company is developing to transform and improve the way the energy ecosystem operates.
Helping the energy sector
Workrise Vendor Management helps tackle a critical challenge for the industry: the source-to-pay process.
Often described as a fractured, overly complicated and error-prone journey, the process from sourcing and evaluating new vendors to verifying and paying for completed work in energy has long been an issue.
It has become so frustrating that most energy companies are currently using between five and eight separate tools to manage the process – far from optimal in today’s fast-paced business landscape.
- Vendor Discovery
- Onboarding
- Safety & Compliance
- Payments & Invoicing
- Data & Insights
- Plus a sixth capability in Managed Vendor Services supporting each step in the purchasing lifecycle
Optimising every step
“The industry has an enormous opportunity to improve how it puts every dollar to work,” says Joshua Trott, Chief Revenue Officer at Workrise.
“Energy companies in the US spend US$1tn in capex annually, with US$150bn going to field spend alone. By optimising every step in the source-to-pay lifecycle, Workrise Vendor Management is poised to streamline field operations not just for operators, but for everyone involved in producing and delivering the energy the world so badly needs.”
Workrise finds itself in a unique position as both the leading supplier of labour services and a provider of strategic vendor and supply chain management for energy companies.
It has deep, first-hand experience with the bloat, friction and headaches suffered by both energy firms and the suppliers they rely on to complete these projects.
“Energy demands are soaring, putting energy companies under immense pressure," adds Praveen Kalamegham, Chief Technology Officer at Workrise.
"Add in the sudden increase in demand driven by AI data centres and you get a set of challenges like none ever faced by the industry. The outdated tools these companies have had to get by with are no longer sustainable.
"Instead of another tool to solve a pain point for one member of the energy ecosystem, we’ve built a solution for the whole ecosystem, from the ground up.”
Complementing the platform’s core S2P capabilities are dedicated teams of supply chain and operations experts who will help absorb the complexity that has plagued the industry for years.
This solution is free to vendors, giving them the chance to more efficiently manage work orders, invoicing and compliance for all the relationships they manage through Workrise.
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