New Delhi:Oil India Limited (OIL), the premier Indian National Oil Company under the Ministry of Petroleum and Natural Gas, Government of India on Wednesday announced that it had gone live with its automation project for Supplier Collaboration and Accounts Payable Invoice Automation.
With this automation, OIL intends to deliver superior supplier engagement via the Avaali Velocious Supplier Relationship Management (SRM) solution. Additionally, invoices that come in via the Velocious SRM solution will seamlessly integrate with SAP OpenText Vendor Invoice Management to automate the invoice receipt to post-process.
As a part of this project, OIL has leveraged the Velocious vendor portal from Avaali, to provide a self-service platform to suppliers and enable them to maintain their profile, access Purchase Order details, generate and submit invoices, track payment progress, and seamlessly communicate with users in OIL. The self-service portal is envisaged to drive convenience and satisfaction across the entire supplier base of OIL.
The Invoice Automation solution will enable extraction and analysis of invoices that OIL receives from multiple sources. The solution will help OIL automate invoice verification and monitoring and easy access and retrieval of the invoice and supporting documents. Workflows will be fully automated, enabling audit trails, post which invoices will be posted.