info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

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 

Value.jpg

Latest News

2025.png
Quadric and Denso Team Up to Progress Automotive AI Semiconductors for 2025

The automotive industry will benefit significantly from strategic partnerships in artificial intelligence (AI) and its use in cars. AI integration into automobiles is projected to improve considerably in the year 2025 due to the formation of various…

Read More

2024.png
Semiconductor Trade Restrictions Threaten EV, AI, and Industrial Progress in 2025

In 2025, the global semiconductor industry is already grappling with new and complex challenges emanating from the trade wars and policy changes between the United States and China. The semiconductor industry, an essential backbone of technology…

Read More

2030.png
Surge in Demand for Semiconductors in 2025 Driven by Boom of Generative AI

The rapid use of generative artificial intelligence (AI) in 2025 has profoundly affected the semiconductor sector, resulting in unprecedented growth for advanced chip technologies. According to estimates made by the Capgemini Research Institute, this…

Read More

condition.png
Texas Faces Challenges to Balance Grid Security and AI Boom in 2025

Texas will face an emerging challenge in 2025 as the electricity grid experiences unprecedented strain from the rapid expansion of artificial intelligence (AI) data centers. Power usage has increased due to technology firms' indiscriminate placement…

Read More

Stocks.png
Tech Turmoil in 2025: Magnificent Seven Stocks Slide as Tesla Leads Market Decline

With the "Magnificent Seven”- Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla leading the fall, the US stock market saw a significant dip in early 2025. Usually seen as market drivers, these IT behemoths found themselves in the correction…

Read More

Author Pic
Indu Tyagi Ketan

Chief Strategy Officer