OMV Adopts Accounts Payable Automation for Better Invoice Processing

Products and platforms

Industry

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.

TAP ™ Accounts Payable solution for OMVs invoice processing challenge.

The key tenets of the TAP Accounts Payable solution include inflow that could accept any invoice type, in any format, or from any geography. Next, invoice data can be digitized using TAP™ embedded intelligent OCR, business rules, and AI-enabled services. Lastly, the post and pay features can be used, comprised of the seamless integration of the data with OMV’s SAP system.

Success through commitment, expertise and partnership.

Mathias Wiesflecker
OMV

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OMV transforms invoice processing with TAP™ Accounts Payable

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Where adaptability meets advantage

With you for the long run

Our Thought Leadership Institute

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

Global knowledge. Local support

Products and platforms

Industry

In this article

Challenge

Solution

Benefits

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