Slow Evolving Automotive Market may Impact Green Transition
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.
BPO Services Market value
Latest News
Slow Evolving Automotive Market may Impact Green Transition
The global automotive industry faces multiple challenges in 2024. It is due to several other reasons apart from its affordability. Since the beginning of 2024, automotive trends have been evolving, shaking the balance of the automotive domain. A…
Indian Ferro Alloys Faces Numerous Challenges in 2024
Ferro alloys play a crucial role in India’s steel industry. The manufacturing and production sector relies on ferro alloys to boost the nation's heavy industries and steel production. A survey of 2024 shows that the ferro alloys market is facing…
High Cost and Infrastructure Constraints Drive the Global EV Sales
The automobile market has experienced a global slowdown since the beginning of 2024. However, the electric vehicle market plummeted over the period in 2024. Several constraints are behind the fall of electric vehicle sales, such as costly raw…
Hydrogen Trains in 2024 to Drive Sustainability
Hydrogen trains signify an essential development in the world's efforts to decarbonize transport. А Hydrogen-powered trains emerged as the fastest way of mobility, with specific coverage and significant developments in several areas, signifying a…
Mexico Energy Sector aims to Expand Clean Energy Transition by 2030
Mexico is progressing rapidly in the renewable energy sector, envisioning double its production by 2030. By 2024, 35% of electricity should come from clean sources, compared to 29% in 2022. With a focus on solar, geothermal, wind, and hydroelectric…
