Mix the garlic powder, onion powder, salt, pepper, and oil together in a small bowl. Pat the beef dry with paper towels then rub the beef all over with the seasoning mix.
Heat a large saute pan over medium-high heat. When the pan is hot sear the beef until well browned on all sides, 2 to 3 minutes per side.
Transfer the beef to a 6-quart slow cooker and set aside.
Keep the pan over medium-high heat. Add the mushrooms, soy sauce, and water to the pan and scrape the bottom of the pan with a wooden spoon to release any stuck on bits from the bottom. Cook, stirring often, about 2 minutes.
Pour the mushrooms and any liquid from the pan into the slow cooker over top of the beef. Place the lid on the slow cooker and cook on LOW for 7 to 8 hours or until beef is tender.
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