The end of a drilling contract can sometimes feel like the beginning of a nightmare, bringing payment delays and cost discrepancies along the way. With current data entry systems (manual, excel, in-house), it’s nearly impossible to reconcile costs efficiently without spending hours cleaning and analyzing data that's outdated and doesn’t make any sense.
All parties involved face the daunting challenge of reconciling costs that have accumulated over the duration of a project, bringing disagreements and prolonged disputes. The issues, arising from mismanaged records and delayed data, drag out the reconciliation process for weeks — sometimes months, straining important relationships and delaying final settlements.
While frustration builds, it becomes difficult for each party to make sense of inconsistencies in operations, creating a cycle of back-and-forth that could have been avoided with clear data communication, in a timely matter.
Krux provides:
> a robust structured approval process
> accurate billing reports
> detailed analytics
> real-time reconciliation of costs
> structured & standardized data
So, you can make informed operational decisions, on information being received and approved, directly from the field.
With real-time cost reconciliation, rather than waiting until the end of a contract when information is no longer relevant, you can ensure:
> speed
> transparency
> accuracy
in your operations and catch discrepancies as they’re happening.
If you’d like to learn more about how you can streamline your operations, with Krux, contact us today.