OFS Portal Presents Oil & Gas E-Commerce Lessons, Solutions to … - Business Wire (press release)- About: E-Business

At the conference, Wallis explained that trading partners in the oil & gas industry face unique challenges when adopting e-commerce for purchasing, billing, payment, invoicing and document exchange. According to OFS Portal CEO William LeSage, the company has more interoperability agreements in place than any other entity operating in the oil & gas industry. The prize for implementing e-commerce is big - OFS Portal estimates that for a $1 billion company with $500 million of expenditures, e-commerce savings can amount to $35 million in process efficiencies and $50 million per year in the cost of goods. Headquartered in Houston, OFS Portal, LLC is a global member-based group of upstream oil & gas suppliers and service providers at the forefront of oilfield eCommerce. With eCommerce focused on helping buyers to digitize their supply chain, OFS Portal delivers cost-effective ways to make eCommerce a reality for both buyers and sellers. OFS Portal works with global standards organizations to converge or develop open and non-proprietary eCommerce standards for use in the upstream oil & gas industry. read more

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