Indian Oil Corporation establishes shared service center with IBM
Indian Oil Corporation Limited (Indian Oil) has launched its Shared Service Center (SSC) for Supplier Invoice Management in conjunction with IBM Consulting.
Indian Oil’s Shared Services Center is a digital initiative that synergizes the processing of invoices from a centralized office based in Noida (Delhi NCR). The center will be staffed by employees of Indian Oil Corporation and IBM Consulting’s Business Process Operations and is equipped to process more than 1.5 million invoices per year.
Shrikant Madhav Vaidya, Chairman of Indian Oil, speaking at the foray, said, “Indian Oil has always been at the forefront when it comes to driving the country’s digital agenda. We have leveraged technology to serve and delight our stakeholders with excellence, and the SSC is another important step in that direction. We believe it will lead to significant benefits for our business and improve the stakeholder experience.
John Granger, Senior Vice President, IBM Consulting, said, “The SSC underscores the powerful impact of technology on companies of the size and scale of Indian Oil. Helping to improve bottom line growth, IBM is proud to be Indian Oil’s long-time strategic technology partner in its digital transformation. The collaboration leverages our deep industry expertise, the best of our global talent, and world-class practices rooted in hybrid cloud and AI. »
The Indian Oil and IBM Consulting Business Process Operations teams at the Indian Oil Shared Services Center will process supplier invoices, resolve queries, manage exceptions, issue payments and maintain master files at the on-premises OpenText Vendor Invoice Management (VIM) helper for SAP Business Suite. on HANA.
The center is equipped with digital technologies such as optical character recognition (OCR), vendor portal and ticketing tools. IBM Consulting will also deploy analytics and automation solutions to provide Indian Oil with increased visibility into key process metrics. The SSC will also make AI-enabled self-service chatbots available to suppliers, which can be leveraged to get updates on invoices and payment status.
Never miss a story! Stay connected and informed with Mint. Download our app now!!