Indian Oil Corporation (IOC) has set up a shared service centre (SSC) for vendor invoice management in partnership with IBM Consulting.
“IndianOil Shared Service Centre Vendor Invoice Management is a sizable digital initiative which synergizes invoice processing from a centralized office based in Noida (Delhi NCR),” IBM said in a statement.
The centre will be staffed by employees from both IOC and IBM Consulting’s business process operations and is equipped to process over 1.5 million invoices annually.
IOC and IBM Consulting’s business process operations teams at the centre will process vendor invoices, resolve queries, handle exceptions, make payments and maintain the master files using on-premise OpenText Vendor Invoice Management (VIM) for SAP Business Suite on HANA.
The SSC for vendor invoice management is equipped with the latest digital technologies like optical character recognition (OCR), a vendor portal and ticketing tools.
IBM Consulting will also deploy leading analytics and automation solutions to provide IndianOil with increased visibility of key process metrics. The SSC will also make AI-enabled self-service chatbots available for vendors, which can be leveraged to get updates on invoices and status of payments.