Digital Transformation Slows Down the Global Economy
IBM Consulting's BPO Unit Wins Vendor Invoicing Deal from Indian Oil Corporation Ltd in March 2022
By Indu Tyagi Ketan , 08 December, 2022
Indian Oil Corporation Ltd, a state-owned energy firm, awarded a vendor invoicing management contract to IBM Consulting's BPO division.
The shared service center would be located in Noida, Uttar Pradesh, and would be used by employees of Indian Oil Corporation Ltd and IBM to address vendor issues, make payments, record exceptions, and keep records. Each year, the center would have the capacity to process 1.5 million invoices.
According to the CXO of IBM Consulting, the partnership uses the IT company's knowledge in the sector and capabilities in hybrid cloud and AI. According to the press release, IndianOil would be able to boost the visibility of important process parameters with the use of digital technology, including optical character recognition, vendor portal & ticketing tools, analytics, and automation solutions. AI-enabled chatbots allowing vendors to receive updates on bills and payments are also available.
The agreement would enable the delivery of technology-enabled services at scale for IndianOil. According to the CXO of IndianOil, the shared service center centralizes processing for the "accounts payable" function countrywide.
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