CASE STUDY

GryphonESP lowers DSO by 30 days

SUCCESS AT A GLANCE

INCREASED MARKET VISIBILITY

Valuable metrics captured on digital field tickets give visibility into market trends, performance with specific customers and which services are performing well.

LOWER DSO

Gryphon reduced its average days sales outstanding (DSO) from 60-90 days to 30-60 days.

INCREASED TICKET VISIBILITY

Valuable metrics captured on digital field tickets give visibility into market trends, performance with specific customers and which services are performing well.

LOWERED DSO

Reduced its average Days Sales Outstanding from 60-90 days to 30-60 days

GryphonESP provides a large variety of services for the oil and gas industry including safety services, H2S, EMR firefighting service, rental equipment, security and consulting services.

CHALLENGE

GryphonESP sought to shorten its days sales outstanding (DSO) to get cash faster. The company used paper tickets which delayed the ticket approval process and led to errors and ticket loss. All of these issues delayed invoice submission and payments. The company decided to digitalize its work tickets to speed up the invoicing process and improve ticket accuracy and accountability in the field.

solution

Several of GryphonESP's clients required suppliers to submit invoicing through OpenInvoice. Many of the same operators also leveraged Enverus' OpenTicket platform, - a cloud-based collaborative platform that enables operators and service providers to generate, review and approve field tickets.

The digital field ticket solution Oilfield Services Suite (OSS), designed for service companies, allows workers to create and submit tickets for approval, capture signatures on the device and submit a copy of the ticket to their office.

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implementation

Before their OSS implementation, GryphonESP used a different digital field ticketing system. The field team was used to digital tickets, but OSS was much easier to customize to their business and workflows than the previous solution. Overall the team found the app user-friendly, making adoption smooth and easy.

RESULTS

Lower DSO

As a result of implementing Enverus OSS, GryphonESP reduced its average DSO from 60-90 days to 30-60 days.

Visibility into ticket status and operations

The reporting capabilities in the app provide visibility into ticket status. Misty, the office administrator, can now see which tickets still need to be requested and which tickets need signatures from the company men, saving time and resources.

"I no longer have to keep calling someone because I'm not sure of a ticket's status. I can look in OSS. Everybody's questions are answered, and we have full visibility into the status of tickets," said Misty.

Visibility on ticket status also helps management forecast when payments will be made. The team also uses reports to understand the work that's being done and forecast where the market is going.

Saved time by eliminating dual ticket entry

OSS seamlessly integrates with OpenTicket. By creating and submitting digital field tickets through OSS to OpenTicket, GryphonESP saves time by not having to key the ticket into OpenTicket and capturing their own work record. This provides the company with greater visibility into operations and ticket status.