At Tressl, we pride ourselves on providing tailored land and technical solutions to meet our clients' needs. Recently, we partnered with Company X, a mid-sized E&P company based in Calgary, to address significant inefficiencies in their road use maintenance billing process. Here’s how our collaborative effort not only uncovered substantial missed revenue but also transformed their operational workflow.
Company X recognized that their road use maintenance billing was inaccurate, but they were overwhelmed by the extensive paperwork required to rectify the situation. The lack of proper tracking and documentation led to significant missed revenue opportunities. Faced with these challenges, they turned to Tressl for assistance.
Our journey began with an onsite audit conducted by our in-house road use expert, which took approximately two days. During this thorough review, we identified clear indicators of missed revenue. By delving into the details, we discovered years of unaccounted-for road use maintenance fees. One of the primary reasons for this oversight was the improper tracking of well statuses.
The Tressl Services team worked diligently to uncover and invoice for over $300,000 in owed maintenance fees. This substantial recovery was achieved in less than six weeks, showcasing the efficiency and expertise of our team.
In addition to recovering missed revenue, we transitioned all of Company X's files into Tressl's web-based platform. This digital transformation consolidated all their records into one easy-to-use system, providing full operational visibility. Now, Company X has complete oversight of their road use activities, equipped with tools to manage files and projects effortlessly.
Looking ahead, Company X is set up on Tressl to automatically manage all road use activities. This includes automatic generation of agreements and addendums, automated invoicing (monthly, annually, etc.), and bi-weekly well status updates. This automation ensures that Company X will continue to capture revenue accurately without the manual burden.
Revenue Capture: Uncovered and invoiced over $300,000 in missed revenue in less than six weeks.
Digital Transformation: Consolidated all files into Tressl's web-based platform for streamlined operations.
Automated Future: Implemented automatic invoicing and well status updates to ensure ongoing accuracy.
Full Operational Visibility: Enhanced oversight of operations and efficient file management.
Asset Protection: Improved protection of assets by knowing who is using the roads, with what equipment, and when.
Enhanced Safety: Streamlined road use management not only aids in revenue capture but also enhances safety by monitoring road usage.
Company X's partnership with Tressl turned their road use maintenance billing inefficiencies into a streamlined, automated process. By addressing the root causes of missed revenue and transforming their operational workflow, we ensured that Company X is now well-equipped to manage their road use activities efficiently and accurately. If your land team is facing similar challenges, let Tressl Services curate the best solution for you.
Made by Land Professionals for Land Professionals.
Follow Us
© Tressl. All Rights Reserved.
