Premier Oil (LON:PMO) has signed a contract with DeepStream for their SaaS technology to digitise the tendering process within procurement operations. Premier Oil procures a significant amount of equipment and services annually including many complex packages which involve extensive involvement of procurement, technical and legal teams across the organisation. This is an intensive process including the exchange of large volumes of sensitive and detailed information with contractors and intermediaries within their supply chain.
DeepStream ensures that the tendering process is more transparent and efficient as well as fully auditable: reducing compliance risks and cost. The platform makes knowledge sharing among teams and reporting more effective whilst facilitating collaboration with Joint Venture Partners and other external business associates within the secure communication application.
Steven Petrie, Premier Oil UKBU Supply Chain Manager, commented:
“It’s important that we have best-in-class processes and technology to ensure our operations continue to be robust and efficient. In our supply chain operations we are focused on performance in terms of delivering value and assuring communication auditability and compliance: DeepStream is making a significant contribution to those objectives”
Jack Macfarlane, DeepStream Technologies Chief Executive Officer, commented:
“DeepStream is delighted to be working with Premier Oil in the UKCS, and we have been extremely impressed with their ambitions in leading the way towards a digital and transparent supply chain, sharing our vision in using technology to drive overall industry collaboration. We are not only facilitating a dramatically improved software experience for Premier Oil, but also enabling a secure and auditable tendering platform which removes the compliance risks associated with opaque email & attachment driven processes”.