SUCCESS STORY
Nayara Energy LimitedIndustry• Oil & Gas

Partner Support• Avaali Solutions

Solution• OpenText™ Vendor Invoice Management forSAP® Solutions• OpenText™ Invoice Capture Center• OpenText™ Archiving for SAP® Solutions• OpenText™ Document Access for
SAP® Solutions

Results
Automated invoice management for
maximum efficiency

Eliminated time-consuming,
manual invoice processes
Accelerated invoice approval cycles
and reduced errors
Enabled real-time invoice visibility
and reporting

Nayara Energy transforms accounts
payable processes with OpenText
invoice solutions

Indian energy company automates invoice processing with OpenText
Vendor Invoice Management for SAP Solutions to increase efficiency
and accelerate turnaround time
“The platform has not only helped us improve
efficiencies, it has also enhanced productivity,
simplified operations, and most importantly,
helped in eliminating bottlenecks.”
Parthasarathy S
VP Finance, Chief Accounting & Transformation Officer
Nayara Energy Limited

Based in Mumbai, India, Nayara Energy is a new-age downstream
energy and petrochemicals company with a strong presence acrossthe hydrocarbon value chain from refining to retail. The company
owns and operates India’s second-largest single-site refinery, oneof the world’s most modern and complex refineries. The company
also has India’s largest and fastest growing private retail networkwith more than 6,000 fuel stations across India.

Fueling a digital transformation
Formerly known as Essar Oil, the company was acquired in 2017 andrenamed Nayara Energy, signaling a new era for the organization.
After the acquisition, many of the existing business processes wereexamined to discover opportunities for improvement. Accounts
Payable (AP) was identified as a candidate for digital transformation
as its processes involved large volumes of documents and many
manual touch points. Anup Vikal, CFO at Nayara Energy, commented,“At Nayara Energy, we are accelerating toward strategic growth.
To enable that growth, we have been unlocking several financetransformation initiatives that are truly changing the way work isdone and are bringing about value across the enterprise.”
The company’s AP challenges included the lack of a standardized
process for receiving, capturing, and processing invoices fromvendors, making it difficult to track the status of invoices in a timelymanner. The AP team would lose valuable time manually tracking
invoices and managing payment approvals. In addition, invoices had
to be checked manually to ensure accuracy and compliance before
they could be posted to the company’s SAP system. The many
cumbersome and time-consuming manual processes increased therisk of errors that could lead to costly delays. Further, the inefficiency
negatively impacted vendor relations and also made it difficult togenerate accurate and timely reports on AP performance.
A dedicated team was formed with employees from both IT andFinance to lead the vendor invoice automation project. Nayara
Energy partnered with Avaali, a digital transformation expert,
to help implement the solution—OpenText Vendor Invoice
Management (VIM) for SAP Solutions. OpenText VIM is anindustry-leading invoice management and processing solutionthat streamlines accounts payable operations for SAP customers
by automating and simplifying the process of receiving, managing,monitoring, and routing invoices.

Invoice automation with OpenText
With the OpenText solution up and running, Nayara Energy hasrealized benefits that include efficiency gains, improved productivity,and accelerated AP cycle times. Parthasarathy S, VP Financeand Chief Accounting & Transformation Officer at Nayara Energy,
commented on the transformation: “At Nayara Energy, we made adefinitive move from fragmented, laborious, and time-consuming
accounts payable processes to implement OpenText VIM for SAP
Solutions. The platform has not only helped us improve efficiencies,
it has also enhanced productivity, simplified operations, and mostimportantly, helped in eliminating bottlenecks. The multi-levelapproval approach that the OpenText VIM platform brings ensuresmore control over systems and significantly improves cycle
times. The smooth and successful implementation of the platform
has resulted in achieving timely closure of books and appropriate
governance and records management.”“The OpenText Vendor
Invoice Management
for SAP Solutions
platform ensures ourvendor ecosystem
continues to trust
Nayara Energy
as we facilitateprocesses withoutcompromising ontimelines, andwith a firm viewon complianceand controls.”
Anup Vikal

Chief Financial Officer
Nayara Energy Limited

Nayara Energy transforms accounts payable processes with OpenText invoice solutions

Standardizing invoice capture

Building trust in adverse times

The new solution has optimized the company’s AP processes andeliminated redundant activities. For example, establishing a standard
and centralized point of receipt for all vendor invoices ensures effective
invoice tracking from the moment it is received. Using OpenText Invoice
Capture Center for SAP Solutions, the project team has replaced
manual data entry with automatic invoice capture. This opticalcharacter recognition (OCR) tool uses advanced document andcharacter recognition capabilities to turn invoices into machine-readableinformation, thus automating the digitization of any incoming document.

System-based checks and rule-based processing have not only led toaccurate processing of vendor invoices, they have ensured that vendor
payments are processed on time. Any issues with invoices are identified
and resolved early to avoid delays in payment. The result is a better
vendor experience and further establishes trust for the growing Nayara
Energy brand—a tall order for any company during a global pandemic.

Improved process efficiency and faster turnaround times
Now, invoices are automatically scanned, digitized, and stored, andthe automated classification and routing of documents for resolution,
approval, and payment has eliminated the manual movement ofinvoices around the organization. Moreover, system-driven businessrules and compliance checks are automated, allowing the VIM
solution to identify data-related errors and duplicate invoices.
Rule-based processing and handling of escalations throughworkflows helps in the accurate and correct processing of invoices.
This new-found efficiency has led to faster invoice processing with
reduced errors and facilitated effective tracking. It also allows the APteam to focus on more critical activities such as managing exceptions
arising from business rule validations, rather than manually keying indata to create invoices in the system. In addition, with invoices tracked
on a real-time basis, the company benefits from advanced reporting
capabilities that provide accurate insight into AP performance.

Reflecting on the success of the OpenText VIM solution, especiallyduring this challenging time, Vikal summarized, “The true value of
the OpenText implementation was realized during the COVID-19
lockdown period as the tool allowed greater flexibility and remoteaccessibility.” He continued, “The OpenText Vendor Invoice
Management for SAP Solutions platform ensures our vendor
ecosystem continues to trust Nayara Energy as we facilitateprocesses without compromising on timelines, and with a firmview on compliance and controls.”

About Avaali Solutions
Avaali Solutions (www.avaali.com) is a specialist in enablingorganizations to leverage digital technologies to manage their internalbusiness processes as well as engage better with their ecosystem(customers, partners, vendors etc.). Avaali has done over 120+transformations for large enterprises across Asia, MEA and Europe
to help them reduce cost and deliver better business outcomesvia digital. The company specializes in Sourcing, Procurement andShared Service process automation.

About OpenText
OpenText, The Information Company,
enables organizations to gain insight
through market leading information
management solutions, on-premises orin the cloud. For more information aboutOpenText (NASDAQ: OTEX, TSX: OTEX)
visit opentext.com.
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