The trucking of shale crude generates an enormous volume of tickets which aggregate to a large financial speed of data availability. The sheer volume of these paper tickets makes manual data entry on a shipment level economically impractical. For a very active player in North American shale these can run into the tens of thousands per month. It is not uncommon for the reading of these tickets to be outsourced to data entry companies at a cost of hundreds of thousands of dollars per year. What comes back is low quality due to the starting data being inaccurate, incomplete (missing tickets) and being manually entered containing human errors.
liquitrax addresses data quality issues at source and makes sure that this is not corrupted through human interference downstream. The data which is made available to the client in business real time can be interfaced into any system, format or schema required. Off the shelf CTRM, inventory and even SAP systems have been interfaced ensuring that time and money is not wasted and data quality is maintained.
As a result of this approach, shipment level data is kept all the way through to management information systems, permitting detailed analysis on contract performance, shale operational efficiency, and freight company performance levels.
The timeliness of data availability means that crude acquisition cash flow forecast and freight shadow invoicing can be predicted in advance, making the financing and treasury operations of a shale crude operation more tightly controlled.