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IndianOil Corporation Collaborates with Automation Anywhere to Accelerate Automation

Posted On: 2021-09-26 16:57:40 (Time Zone: IST)


Automation Anywhere, a global leader in Robotic Process Automation (RPA), announced a collaboration with IndianOil Corporation Limited (IOCL), the first oil marketing company in India to speed and scale automation to drive increased innovation across its 30,000 employee organization.

During the first phase of a five-year plan, IOCL has automated select key processes across departments including Finance, HR, Inventory, etc. using Automation 360, the world's first AI-powered RPA platform.

IOCL's overall vision is to improve operating agility, connect disparate systems, and at the same time, empower employees to work more efficiently by allowing them to create solutions which help them move away from tactical and mundane repetitive tasks and ultimately focus on delivering more compelling products to market. To accomplish this, IndianOil leveraged the collective intellect of the organization and organized an enterprise-wide RPA botathon event where hundreds of employees and citizen developers were tasked to create automation assistants that could unlock innovation.

"We have crowdsourced 50+ ideas through an enterprise-wide 'RPA Botathon' event that saw enthusiastic participation from hundreds of IndianOil employees across businesses and functions. Participants trained to build bots on Automation Anywhere's cutting-edge platform developed multiple bots by the end of this exercise. As a result, we now have a trained pool of resources capable of converting an idea into a bot", said Alok Khanna, Executive Director (SIS & IS), who is leading the digital transformation team of IndianOil.

"Energy companies grapple with legacy systems, multiple data sources and manual, repetitive processes that get in the way of driving speed and impact," said Milan Sheth, executive vice president, IMEA at Automation Anywhere. "With our trusted automation platform, we look forward to collaborating with IOCL to unleash automation capabilities across their entire organization and streamline repeatable tasks.

"This is just the beginning. We will continue to strive for innovation and digitalization and strengthen our leadership across the industry", said Mr. S. M. Vaidya, Chairman-IndianOil, who has personally been shaping IndianOil's Digital ambition. According to Mr. Vaidya, "If we do not go digital, we would not stay relevant in the business".

Shares of Indian Oil Corporation Ltd. was last trading in BSE at Rs. 117.3 as compared to the previous close of Rs. 117.95. The total number of shares traded during the day was 437536 in over 2723 trades.

The stock hit an intraday high of Rs. 118.95 and intraday low of 116. The net turnover during the day was Rs. 51383402.


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