ONGC launched a significant business process initiative today with the inauguration of the ONGC Shared Finance Services in collaboration with IBM Consulting. This will centralize and standardize all vendor payments of ONGC, accelerating the processes for an enhanced 360-degree vendor experience. ONGC Chairman and CEO Arun Kumar Singh inaugurated the Centre at Noida in the presence of ONGC Director (Finance) Pomila Jaspal, and IBM Consulting India/South Asia Country Managing Partner Kamal Singhani on 14 December 2023.
The event also witnessed the participation of MD OVL Rajarshi Gupta, ONGC Director (Exploration) Sushma Rawat, Director (Human Resources) Manish Patil, CVO ONGC Ranjan Prakash Thakur, Director (Finance) OVL Anupam Aggarwal, MRPL Director (Finance) Vivek Tongaonkar and senior leadership team of IBM.
The ONGC Shared Finance Services (SFS) for Centralized Vendor Payments, has been developed in collaboration with IBM Consulting. The SFS will serve as a centralized hub for processing vendor invoices, updating vendor master information and promptly addressing vendor queries through digital assistant and ticketing tool that has been deployed by IBM Consulting. The SFS has been created with the goal of establishing uniform standardized processes to enhance operational efficiency and improve the overall vendor experience.
Chairman & CEO ONGC Arun Kumar Singh while inaugurating the facility said, “This is one of the number of vendor-friendly initiatives that ONGC has taken to improve the overall vendor experience. We will continue to take more stakeholder-friendly initiatives by leveraging technology and taking the ease of doing business to the next level. All repetitive transactional jobs would be outsourced so that limited managerial time is freed up for core strategic assignments.”
The SFS adopts a hybrid workforce model, co-locating ONGC and IBM Consulting resources in a harmonized environment to foster growth and operational efficiency with best practices.
