Highlights
- 100% automation in digitizing invoices
- More than 99% accuracy of invoice data
We're taking you to another TCS website now.
Success Story
OMV Adopts Accounts Payable Automation
for Better Invoice Processing
Highlights
"Success through commitment, expertise and partnership.”
Mathias Wiesflecker, OMV
Challenge
OMV is a global energy and petrochemical company having operations across Europe, the Middle East, and APAC and running its shared services back office out of different locations globally.
Being an MNC operating in more than 30 countries, OMV faced many challenges related to automating their invoice management process.
The key improvements targeted by the client included:
- Automation increase
- Full coverage of complex, country specific business logic needs for invoice processing
- High invoice status visibility
- Automatic detection of duplicates and/or anomalies in invoices
Solution
TCS proposed its TAP™ Accounts Payable solution as the next-generation digital native platform with accounting services to enhance OMV’s invoice processing efficiency.
The project was divided into three phases with the first phase implemented within 8 weeks, helping the client realize faster time-to-value.
The key tenets of the solution included:
- Digitization of invoice data using TAP™ embedded intelligent OCR
- AI-based data model to patternize over 600 variations in business logic
- AI-based near-duplicate checks to protect against potential duplicate payments
- Role-based dashboards and strong reporting mechanism to track end-to-end accuracy and invoice traceability
- Seamless integration with OMV’s SAP system
Benefits
TAP™ digitized and transformed invoice data capture, data enrichment, data validation, and exception management with a robust and scalable accounts payable solution. This end-to-end transformation powered by digital, AI, and cloud helped the company achieve quality, speed, innovation, savings, and sustainability.
