6^th Annual Edition

The country'Eager to weed out these issues, Ramasamy created an e-payment process for employees and external vendors. The interface for e-payment is integrated with SAP Payroll and it generates payment vouchers for making salary related payments against pending liabilities. The project also facilitated a safe and secure process for carrying out online transactions with banks. It augmented operational efficiency by shrinking the lead time from three-four days to a couple of hours. The project also enhanced customer experience by enabling fast and efficient credits to customer accounts through secure online transmission. Furthermore, it helped the company realize cost savings by eliminating the need for manual download and upload of payment advices. By developing a mechanism for effective and timely management of funds, the project also helped Indian Oil save on huge interest costs.