Ondiflo: The Solution for All Oil and Gas Ticketing-Based Services
>>> The Process Today
Approximately 12.5Mil barrels of oil produced daily
Millions of logistical transactions every year
Due to regulations, all logistics within the industry requires full traceability
Current process is highly manual and utilizes a lot of resources, and is prone to human error
Manual process also slows the procure-to-pay (P2P) cycle for producers and suppliers
Slow P2P cycles can cost oil producers and their suppliers a lot of money
>>> Consequences
On The Procure-to-Pay Process
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45 to 60 days from order to approved invoice
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Poor record keeping
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Costly reconciliation and processing
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Errors and disputes with service providers
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Long DSOs, high working capital financing cost
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Poor transparency, inadequate auditability, HS&E risk
On The Industry
Process costs the industry billions of Dollars, preventing further investments.
Ondiflo streamlines an utterly inefficient process, by leveraging Blockchain technology and IoT sensors
Ondiflo's DNA
Automation
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Efficiency in Operations
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Optimized Procure-to-Pay
Blockchain
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Trust Between Operators and Suppliers
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Compliance
Collaboration
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Accelerated Adoption by All Stakeholders
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Standards and Open Platform
Disruption + Transformation
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A Paradigm Shift in Ticketing-Based Services
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Part of the Enterprise Digital Oilfield Transformation
Ondiflo: Data Flow
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Field Data (sourced from IIoTs or SCADA when possible) are captured in Blockchain
Orders and Tickets are created via Smart Contracts and pushed to Trading Partner workflows
Invoices are captured in Blockchain and triggered payments and associated trade financing
Documentation can also be generated via Smart Contracts and pushed to Regulators
>>> Components Involved
IoT Sensors
Measure, Alert, Trigger
Blockchain
Smart Contracts
Order, Dispatch, Deliver, Invoice, Comply
Trade Finance
Pay, Notify, Finance
>>> Systems Involved
Sending System
IoT, Mobile, GPS, ERP, Database
Off Chain
Database, Workflow, Business Logic, Transformers, API
Blockchain
Smart Contracts, Master Data, ID Management, Transactions
Receiving System
Dispatching, ERP, ETRM, Repository
Ondiflo: The Benefits
Cost reduction by improved efficiency
Improved driver and truck utilization
Improved Safety, Dispatch and Scheduling
Reduced Disputes and Reconciliation Effort
Reduced procure-to-pay time cycles
Improved compliance to EPA, DOT and other regulations
Full Auditability
New Business Models and Value-Chain Partnerships
