Workrise has unveiled its latest innovation, Workrise Vendor Management, a comprehensive source-to-pay solution tailored for the energy industry. This new offering integrates specialized software with expert services to optimize collaboration among energy operators, suppliers, and field personnel in meeting the growing global demand for energy.
Workrise Vendor Management addresses a significant industry challenge: the complex and fragmented source-to-pay process. Traditionally, energy companies have grappled with a cumbersome journey from sourcing and evaluating vendors to verifying and processing payments, often relying on multiple tools—typically five to eight—to manage these tasks.
The product features five key capabilities spanning the entire source-to-pay lifecycle: Vendor Discovery, Onboarding, Safety & Compliance, Payments & Invoicing, and Data & Insights. Additionally, Managed Vendor Services provide dedicated support throughout the purchasing lifecycle.
“The industry has a tremendous opportunity to optimize its operational expenditures,” noted Joshua Trott, Chief Revenue Officer at Workrise. “With US energy companies annually spending $1 trillion on capital expenditures, including $150 billion on field spend alone, Workrise Vendor Management aims to streamline field operations for operators and all stakeholders involved in energy production and delivery.”
Workrise’s unique position as a leading labor solutions provider and strategic manager of vendor relationships in the energy sector equips it with firsthand insights into the challenges faced by energy companies and their suppliers.
“Energy companies are facing unprecedented challenges due to soaring demand, particularly driven by AI data centers,” explained Praveen Kalamegham, Chief Technology Officer at Workrise. “The outdated tools these companies have relied on are no longer sustainable. Instead of piecemeal solutions, we’ve developed a holistic platform designed to benefit the entire energy ecosystem.”
In addition to its core source-to-pay capabilities, Workrise Vendor Management includes teams of supply chain and operations experts who help streamline complex processes that have historically hindered industry efficiency. The platform is offered at no cost to vendors, enabling them to manage work orders, invoicing, and compliance more effectively through Workrise.
Workrise collaborates with over 300 energy companies across the US, ranging from independents to supermajors. Workrise Vendor Management marks the first in a series of transformative products aimed at enhancing operations within the energy ecosystem.
About Workrise
Workrise is the leading source-to-pay solution designed specifically for the energy industry. By combining purpose-built software with expert teams, Workrise empowers energy companies and their suppliers to achieve greater efficiency and collaboration.
For more information on how Workrise is transforming operations across the energy sector, visit workrise.com.
