New Technology Magazine, a publication based in Calgary, Alberta, Canada, has published a news release from geoAMPS on the large volume of payments processed with geoAMPS software.
geoAMPS’ clients have reported processing combined payments exceeding $1.1 billion by utilizing geoAMPS software products. geoAMPS is only in its third year of operation.
New Technology Magazine included the news release in the Information Technology section of its online edition.
New Technology Magazine is published by JuneWarren-Nickle’s Energy Group, a division of Glacier Media Inc., a leading Canadian information company with interests in daily and community newspapers and business-to-business services.
New Technology Magazine reports on new and cost-saving technologies, such as those developed at geoAMPS, in the upstream oil and natural gas industry. It is an award-winning magazine published 10 times a year. The publication, the website states, “is recognized throughout the industry for delivering informative and timely articles on drilling and completions, production, oilpatch software, heavy oil and oilsands, unconventional gas, seismic and geophysical technologies, and the environment.”
The article about geoAMPS on the New Technology Magazine website points out that “making ongoing payments on right of way, rent, lease and royalty agreements is an essential part of the operation of land service, pipeline, alternative energy, transportation and utility projects, among others. geoAMPS, llc provides software products which, among other essential capabilities, enhance efficiency in processing those payments.”
Due to the many variables associated with land ownership and payments, meeting ongoing payment obligations for a project can be complex and require a great deal with organizational resources.
To meet these complex and changing conditions, organizations resort to various means with varying degrees of success. Many work from spreadsheets, while some still work from paper records. In either case, information must be input manually through each payment cycle. That is a time-consuming process. In addition, many calculations must be done quickly, which increase the chance of error.
geoAMPS software automates the process of meeting ongoing payments. The software includes lease management, automatic reminders, a payment tracker and scheduler capabilities. It automates development, construction, royalty and other types of payments based on complex calculations and varied schedules.
geoAMPS’ customers are located in the United States and Canada.
Dan Liggett is Communications and Public Relations Manager for geoAMPS, a technology company located in the Columbus, OH, area that specializes in software solutions to manage land rights and infrastructure assets. For more information, call 614-389-4871 or visit www.geoamps.com.