Capgemini collaborates with a leading Oil and Gas company in India, Bharat Petroleum Corporation Limited (BPCL) for a remarkable transformation by automating its critical business processes in Finance and Accounting to achieve some key business outcomes:
- Save $19 million in the first six months of its operations
- Manage 90% of finance functions through BPEC by the end of 2017
- Improve governance through better internal controls
- Ensure timely tax credits with a robust tax process
- Improve operational efficiency as only 25–30 people are now required to handle invoices, which were earlier being handled by a team of 3,000 members
- Drive paperless transactions
Technology is the fuel
As the leading Oil & Gas company in India, Bharat Petroleum Corporation Limited (BPCL) manages the end-to-end energy value chain in India. The company offers a range of petroleum and subsidiary products which power vehicles on the roads, cater to the fuel requirements of 8,000 industries, and meet the energy requirements of millions of Indians. BPCL operates with a network of refineries and petrol pumps spread across different parts of the country. The company achieved a turnover of $30 billion in FY16. Similar to the challenges faced by Oil & Gas companies across the globe, BPCL is tasked with addressing the growing challenges of rapidly depleting natural resources, increased regulations, and heightened public scrutiny.
To meet these challenges, BPCL is investing heavily in digital technologies across the manufacturing and distribution supply chain. The company wanted to set up a Shared Services Center (SSC) to drive its digital transformation vision in key Finance & Accounting processes and introduce digital technologies like robotics, automation, cognitive analytics, and machine learning, among others in the organization. Capgemini was chosen as a key partner to assist BPCL in setting up the SSC and support in the digitization and maintenance of key Finance & Accounting processes.
One of the first initiatives was to digitize the Vendor Invoice Management (VIM) process within a record time of five months. Going forward, the vision is to digitize every Finance & Accounting process and move towards a paperless future.