Transzap™ Wins "The Best Data Management Solution Award" for Spendworks at the 2005 World Oil Awards
HOUSTON − October 21, 2005 − World Oil® magazine announced the ten winners of the fourth annual World Oil Awards at a black-tie gala dinner last night in Houston, Texas. The winner of "The Best Data Management Solution Award" was Transzap, Inc. for their Spendworks system. The dinner, attended by close to 400 industry leaders, also benefited three universities that offer programs leading to careers in the petroleum industry.
Spendworks is a web-based system built to streamline the procurement-to-pay process by enabling industry operators and suppliers to conduct business electronically. It eliminates paper, keying, coding, improves internal controls (Sarbanes-Oxley), and provides sophisticated workflow for collaboration within the company and with its suppliers. Energy industry users report that Spendworks eliminates up to 80% of the "procure-to-pay" process steps. The resulting boost in productivity allows companies to absorb operational growth using existing personnel and resources. Transzap accepted this award from Rusty Meador, Publisher of World Oil.
The 2005 World Oil Awards benefited Oklahoma State University, University of Ibadan in Nigeria, and Great Socialist People Libyan Arab Jamahiriya Academy of Graduate Studies in Libya. This program garnered hundreds of submissions from points around the globe. A third-party Advisory Board, comprised of 20 senior industry executives and academics and The Next Generation Committee, comprised of up-and-coming leaders in the petroleum industry who are recent graduates, judged the short list of nominees.
The 2005 World Oil Awards were generously sponsored by Ernst & Young, Hewlett-Packard, Schlumberger and Weatherford.
World Oil® magazine, the leading oil and gas trade journal for the exploration, drilling and production sector, has a worldwide circulation of 35,000 readers. Gulf Publishing Company has published World Oil for 89 years. Additional information on the World Oil Awards program can be found at www.awards.worldoil.com or by contacting Nora Varty at 713.520.4475.
Press Contact:
Nora Varty
Gulf Publishing Company
Phone: 713.520.4475
nora.varty@gulfpub.com
About Oildex™ a Transzap, Inc. service
Through its suite of web-based software services Oildex™ simplifies financial and operational processes for energy companies by replacing paper-based tasks and information with digital data and collaboration tools. Oildex services deliver essential business information. Serving over 1000 companies and 10,000 users, Oildex provides one of the industry's largest Internet-based data exchanges. Currently available commercial services include: digital and scanned invoice processing and analysis tools (Spendworks™), owner/producer relations web publishing, check stub reporting (CDEX), crude oil data exchange (CODE), gas data exchange (GRADE), production and sales volume reporting and joint interest billing (JIB Connect™). Transzap has offices in Denver and Houston. This news release and additional information are available: http://www.oildex.com and http://www.transzap.com
For additional information:
Contact:
Karey Goebel
Marketing Director
Office: 303-222-6116
kgoebel@oildex.com
|
