Houston, Texas (April 3, 2023) – Virtually every sector has experienced supply chain disruptions and the oil and gas industry is no exception. One company, BidOut, has developed a solution to streamline those disruptions and has added American Energy Management as a client.
BidOut is the leading SaaS procurement platform for oil and gas operators and suppliers. The BidOut platform was formed out of the clear need for one platform allowing buyers to connect with suppliers to purchase services used in drilling, completion and production of wells.
“The energy industry has been keen to adopt digital initiatives that enhance business workflow, such as BidOut,” explains Tyler Cherry, Chief Operating Officer of BidOut. “With such volatile pricing, labor shortages and service availability, more buyers are adopting digital initiatives that create efficiencies in their sourcing and vetting process.”
BidOut serves as a central repository for buyers to distribute RFx events and for suppliers to respond to such requests. The BidOut platform enables all users to track requests, communicate, compare proposals and control costs in addition to sourcing more vendors.
Suppliers can create a comprehensive profile on their company where buyers can search for services by category, location, qualifications and more. This provides buyers with a larger pool of qualified suppliers.
In addition, BidOut enables buyers to review and connect directly with suppliers via the platform, reducing the need to input data more than once. Now, companies of all sizes can streamline the bidding process for engineering, supply chain and procurement on one easy-to-use platform.
“Our suite of applications creates more speed and efficiency while we focus on all-things-procurement,” adds Cherry. “What was extremely disjointed is now much easier to navigate for professionals on both sides of the equation. It’s an exciting time.”
Founded in 2020 and backed by Stoutbridge Capital, Ascent Energy Ventures and Leazar Capital, among many other industry veterans, BidOut is quickly becoming the go-to platform in the industry.
American Energy Management focuses on providing industry-leading investment and management strategy oversight within the oilfield services sector. Centered in the Permian Basin regions of Texas & New Mexico, the team’s DNA was purposefully engineered to possess specific characteristics allowing AEM to identify and evaluate scalable investment opportunities. Our advantage stems from a pride in advancing our partners’ work and draws on decades of collective M&A successes.
For more information, visit: www.BidOut.app