Supply Chain Finance Platform

Oildex, a provider of financial automation solutions for the oil and gas industry, announced the availability of its Supply Chain Finance Program through its OpenInvoice automated payables platform. OpenInvoice Supply Chain Finance is enabled through Cass Information Systems, a strategic partner of Oildex. Cass will pay suppliers quickly, less a competitive early pay discount, allowing the operator to maintain or even extend its payment terms. In addition, there is an opportunity for the operator to also receive a financial rebate based on the transactions. The Oildex model is delivered on the same proven, secure OpenInvoice platform that many operators and suppliers currently use to process invoices and payments. In addition, it works with all major enterprise resource planning and information management systems.