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Better Tracking Of Expenses Could Lower E&P Costs

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By Velda Addison, Associate Editor
July 20, 2012

A payment paper trail that takes more than 80 days to get to its processing destination is causing some E&P companies problems that can be avoided.

The lag time means that it is difficult for companies to determine just how much cash is on hand, with an unknown number of possible commitments in the pipeline. Those could include variances, spend by employees, material transfers, and field invoices, just to name a few. The Aberdeen Group suggested the amount of time needed to process an invoice should be 2.9 days, instead ...

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