OFS Portal Is Oilfield eCommerce

OFS Portal is an organization with a non-profit objective consisting of diverse supplier members who are committed to promoting eCommerce and reducing costs. In addition to promoting strong protection for the security and confidentiality of electronic data, OFS Portal has gained the trust and confidence not only of its supplier members but the entire upstream oil and gas industry.

OFS Portal delivers value

First, OFS Portal operates a shared platform for the publication of catalog content from its supplier members using open and uniform electronic data standards. This allows suppliers to efficiently and securely respond to multiple customer requests for electronic catalog data. OFS Portal allows buyers to receive catalogs from a multitude of suppliers from a single source in a common standard. Publishing multiple catalogs according to an open and non-proprietary standard allows for greater efficiencies for both buyers and suppliers. Supplier members can create customizable and confidential electronic catalog content for easy and quick distribution to oil companies within OFS Portal’s technology.

OFS Portal supports standardization

Second, OFS Portal brings its members’ intimate knowledge of the industry to the worldwide effort to develop data and business process standards suitable for the upstream oil and gas industry. OFS Portal and its members are active participants in API’s Petroleum Industry Data Exchange (PIDX) electronic data standards development process.

OFS Portal creates trust

Third, OFS Portal works to help all participants establish the contractual relations necessary to protect the buyers’ and the suppliers’ intellectual property rights in the data they transmit and exchange. Buyer and suppliers have reached a point where their respective trade secrets, confidential data and proprietary information are handled, manipulated and stored by a wide variety of third party exchanges, business process service providers and networks. Buyers, suppliers and the third party vendors all benefit from predictable and even handed rules of engagement that govern the use, storage and transmission of growing volumes of sensitive electronic data.

OFS Portal delivers business documents

Fourth, some of our members receive or transmit their business documents (P.O., invoices, etc.) directly with their trading partner. However OFS Portal offers as an option to interested buyers and suppliers, the service of transmitting business documents via Transaction Messaging Services (TMS). This allows industry buyers and suppliers to send and receive electronic transactions and data securely and reliably. This information can be sent globally via PIDX standards. The technology meets the security and audit requirements of Sarbanes-Oxley.