Bank enters into B2B alliance with BPCL
17 January 2004
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."
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
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 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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