Black Hills Production and Exploration Selects DO2 Technologies' Electronic Invoicing Platform

2008-07-16 21:06:11 -

www.do2.com - DO2 Technologies Inc., the global leader in electronic invoicing, today announced that Black Hills Production and Exploration, Inc. (BHEP) has selected DO2's electronic invoicing platform, OpenInvoice, to automate and enhance BHEP's accounts payable reconciliation and approval processes.

Black Hills Exploration and Production, Inc., a growing oil and gas company with operations in the Western US, signed a

multi-year license agreement with DO2 Technologies to provide electronic invoicing solutions to increase invoice processing accuracy and enhance the capture of early payment discounts. In addition, BHEP expects to reduce invoice processing and data storage costs as a result of efficiencies gained through electronic routing/approval and elimination of paper documents. Implementation will begin in their operating areas of Colorado, Wyoming and New Mexico and is expected to "go live" September 30, 2008.

"We selected DO2 Technologies based on their experience with our existing accounting software and the substantial matching of BHEP vendors currently transacting through DO2," said Brian Ferguson, Controller, Black Hills Productions and Exploration, Inc. "DO2's responsiveness during our evaluation also influenced our decision, as we viewed that as a good indication of the service we will receive during implementation and follow-up."

BHEP licensed OpenInvoice Professional and OpenInvoice PriceBook. Together these solutions will provide a complete workflow for both suppliers and BHEP personnel to route, code, approve and adjudicate invoices. BHEP will also benefit from automatic price reconciliation to on-line contracts on every line item of every invoice, resulting in improved accuracy and time-savings for invoice approvers.

"Black Hills is a growing independent oil and gas company," said Rod Munro, President and CEO, DO2 Technologies. "They saw a good fit between the benefits we provide and their growth and automation needs. We are excited to have them join our growing customer list, and look forward to meeting their expectations for responsiveness and value throughout the implementation and for many years to come."

About DO2 Technologies Inc.

DO2 Technologies Inc. (www.do2.com) is the leading global provider of electronic-invoicing software solutions that enable buyers and suppliers to automate shared financial processes. More than 27,000 users at over 9,000 companies use DO2 solutions to process millions of e-invoices and procurement documents annually. DO2's OpenInvoice(TM) platform delivers the most complete solution, offering modules covering the full scope of procurement to payment business functions; from purchase-order integration and transaction processing to discount management, price compliance and approvals workflow.

DO2's solution platform is pre-integrated with financial accounting systems from SAP(TM), Oracle(TM) and many other ERP providers. OpenInvoice is NetWeaver(TM) certified and provides complete support for SAP/SRM(TM) integration; from purchase-order punch-out to service-entry and goods receipt reconciliation.

DO2 Technologies is an SAAS (software as a service) company, delivering its solutions to customers "on-demand" over the Internet, allowing rapid adoption, lower cost of ownership and faster customer return on investment.

About Black Hills Production and Exploration, Inc.

Black Hills Exploration and Production, Inc., the oil and gas segment of Black Hills Corporation, operates approximately 628 oil and gas wells in Colorado, Nebraska, New Mexico, and Wyoming. The company holds non-operated interests in approximately 608 wells located in California, Colorado, Louisiana, Montana, North Dakota, Oklahoma, Texas, and Wyoming.

DO2 Technologies Inc., do2.com, OpenInvoice and the DO2 Technologies Inc. logo are either trademarks, trade names or service marks of DO2 Technologies Inc. and its licensors, or are the property of their respective owners. These marks may not be copied, imitated or used, in whole or in part, without the express prior written permission of DO2 Technologies Inc.

DO2 Technologies Inc., Houston
Cindy Kelemen, 713-260-9693
ckelemen@do2.com
www.do2.com