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IDBI Bank enters into B2B alliance with BPCL
Our Banking Bureau
17 January 2004

The technology-driven new generation bank, IDBI Bank has entered into a strategic B2B e-commerce tie up with BPCL to launch a unique platform to serve the needs of customers of BPCL's Rs 8,000 crore Industrial and Commercial SBU.

The high-tech interface has resulted in the integration of the technologies of IDBI Bank and BPCL to automate the payment and purchase process for the corporate and industrial clients of the Oil Giant.

BPCL, with its strong technology base, is the first oil company in India to have integrated its ERP with a bank's technology and enhance the quality of its e-commerce service.

Announcing the tie-up, IDBI Bank managing director Mr. G V Nageswara Rao said: "Earlier, it may have taken a customer a few days or weeks to complete the entire purchase process. Now, he can do it in a matter of seconds. This is a classic example of companies using well-designed technology to create a win-win situation for themselves and their customers."

Mr. Ashok Sinha, Director Finance, BPCL said: "As an organisation we have taken the customer as the single most important factor and built systems around the customer, understanding their needs and delivering on the promises that we make. IT has contributed in a big way as the enabler of these customer focused business processes, based on strong communications linkage and ability to network."

This new service automatically eliminates time lag between realization of payments made by large corporate or industrial houses and the clearance of supplies by BPCL. Delivery against payment clearance is a common practice in the oil industry and idbi bank's service allows this process to take place almost instantaneously with ease and convenience.

BPCL has implemented a SAP system, which connects their depots across the country facilitating integration of the customer order, payment and dispatch - all into one system. IDBI Bank, with its state of the art technology, has developed a perfect synergy with the BPCL system whose customers can log on to their net banking accounts at www.idbibank.com and make payments to the oil company by selecting the B2B option. This will allow the customer to make payments to BPCL by debiting their current account with IDBI Bank and crediting the ebanking account of BPCL.

While this is being done, IDBI Bank's Internet Banking platform will send an online alert to the SAP system of BPCL, which will confirm the payment being received and update the customer record at the BPCL server.

It is a win-win situation for both the customer and BPCL since it ensures an easy & secure method of payment, free funds transfer, savings on commission & funds in the pipeline, reduction in the inconvenience of following up on payments and supplies and the
send this article to a friend need to maintain physical records. This 24X7 anytime-anywhere service also helps BPCL improve its service positioning with its customers and enhances its productivity.

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IDBI Bank enters into B2B alliance with BPCL