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.
Latest News
Globally, the countries are adopting renewables to go greener by 2050. Countries are focusing on utilizing renewables as their energy source. It is to support the clean energy transition by limiting carbon and other harmful gas emissions. However…
Globally, the countries are adopting renewables to go greener by 2050. Countries are focusing on utilizing renewables as their energy source. It is to support the clean energy transition by limiting carbon and other harmful gas emissions. However…
Oil consumption maintains a certain level, although oil prices are elevating at a standard rate in 2024. Organization of the Petroleum Exporting Countries (OPEC) suggests that global oil demand is expected to increase in the summer of 2024.
The…
The automotive industry follows different trends since the beginning of 2024. The automotive industry has experienced many issues in the past two years due to the insufficiency of raw materials and disruptions in the supply chain. However, the sector…
Globally, the clean energy transition is taking a new shape to transform the face of countries regarding sustainability. Countries worldwide aim to achieve this goal by the end of 2050. The green energy transition demands a lot of changes in the…
Chief Strategy Officer