Workrise Launches Workrise Vendor Management, a Source-to-Pay Solution Designed to Revolutionize How Energy Companies and Vendors Work Together
2024年7月12日 - 12:00AM
ビジネスワイヤ(英語)
Workrise Vendor Management’s unique blend of
custom-built software and services optimizes every step in the
source-to-pay life cycle for energy companies and their
suppliers
Workrise, the source-to-pay solution for the energy industry,
has launched its newest offering, Workrise Vendor Management, the
company announced today. The product combines purpose-built
software and expert services to optimize the way energy operators,
suppliers and field personnel work together to meet the world’s
increasing energy demands.
Workrise Vendor Management tackles a critical challenge for the
industry, which is the source-to-pay process itself. The fractured,
overly complicated, and error-prone journey from sourcing and
evaluating new vendors to verifying and paying for completed work
in energy has plagued the industry for too long. So much so, that
most energy companies currently use five to eight separate tools to
manage this process.
The product’s five core capabilities span the entire S2P
journey: Vendor Discovery, Onboarding, Safety & Compliance,
Payments & Invoicing, and Data & Insights, with a sixth
capability in Managed Vendor Services supporting each step in the
purchasing life cycle.
“The industry has an enormous opportunity to improve how it puts
every dollar to work,” said Workrise Chief Revenue Officer Joshua
Trott. “Energy companies in the US spend $1 trillion in capex
annually, with $150 billion going to field spend alone. By
optimizing every step in the source-to-pay life cycle, 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.”
Due to its unique position as both the leading supplier of labor
solutions and a provider of strategic vendor and supply chain
management for energy companies, Workrise has deep firsthand
experience with the friction, bloat and headaches suffered by both
energy companies and the suppliers they rely on to complete
projects.
“Energy demands are soaring, putting energy companies under
immense pressure. Add in the sudden increase in demand driven by AI
data centers, 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 The outdated tools these companies have had to get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,” said Praveen Kalamegham, Chief
Technology Officer at Workrise. “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 help absorb the
complexity that has plagued the industry for years. The solution is
free to vendors, enabling them to more efficiently manage things
like work orders, invoicing, and compliance for all of the
relationships they manage through Workrise.
Workrise partners with over 300 energy companies in the US, from
independents to supermajors; Workrise Vendor Management is the
first in a series of products the company is building to transform
and improve the way the energy ecosystem operates.
About Workrise
Workrise is the source-to-pay solution built for energy. By
combining purpose-built software with expert teams, we empower the
world’s leading energy companies and their suppliers to work
better, together.
Learn more about how Workrise is equipping everyone in the
energy ecosystem to operate with greater speed and efficiency at
workrise.com.
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