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1. Presentation on Changeover to a full e-Payment Scenario – experience sharing GAIL (India) Limited
2. e-Payment Paying money Electronically through Internet.
Does not involve physical cheque/DD/ Cash.
No manual intervention of bank personnel.
Secured way of money transfer.
Industry standard security features used.
Convenient to make transactions.
3. Process Flow for e-payables
4. Benefits of e-Payment Benefits to Payee
Instant credit of fund in payee’s account.
Zero cheque traveling / realization time.
Benefits to Bank
No manual intervention of bank personnel in day to day transaction.
Benefits to GAIL
Saving of time & efforts for cheque / DD preparation & distribution.
No need of cash distribution counter.
Automatic Bank reconciliation.
Easy account handling.
5. Security in e-Payment Security - Needs of Internet Baking : Well protected through proper security mechanism
Use of B2B portal for Multi – Tiered Security
Availability of Highly secured 128 bit encryption
Firewalls & Filtering Routers, Secured Socket Layer (SSL), Digital Signature
Server Security, Message privacy & Message integrity by introducing Different codifications, Certificates & Use of Private Key
6. Journey of e-Payment in GAIL Use of E-Banking in GAIL was approved in April’ 02.
Started with Employee (Salary & Personal Claims) at Corporate Office, New Delhi in May – 2002 through HDFC Bank.
Spread to other GAIL locations in major cities through Identified Banks SBI, ICICI, HDFC
e-Payments to interested suppliers / contractors started in the same line with employee payment
Spread to all GAIL locations including remote locations.
7. Journey of e-Payment in GAIL Suppliers and contractors were made aware about the benefits of e-payments through presentations and one to one interactions.
Efforts were made to bring more and more suppliers in e-platform.
New tender conditions are introduced for popularizing e-payment.
New methods of E-Payments also adopted (EFT, RTGS, E-Pay Order)
Targets were assigned to all work centers to achieve 100% e-payments
Finally, 100% E-Banking achieved in June 2005
8. e-Payment Achievements Optimum utilization of resources (Manpower, Time, Systems) – Best Example for Business Process Reengineering
Good Corporate Governance
Real Time basis automatic data update in the system
Instant Money realization to Employees, Contractor, Vendors, Service Providers etc
Better fund management for GAIL & other counter parties
Decrease in overhead cost
Online reconciliation of control accounts
9. e-Payment Success lies in… Aspiration to do the things in different way
Top management support and commitment for the project
IT savvy and strong belief in technology for betterment of business process.
Ability to manage the change i.e Change in Managerial- skills
Strong building of relationship with the Customer, Vendors, Contractors, Banker etc
Communicating the benefits of E-Payments to the counter parties
Necessary training to employee, customer, vendor etc
Implementation of high end security policy
A good corporate governance mechanism
10. e-Banking in GAIL Concluded as… As a part of modernization process, GAIL through the IT enabled techniques and to reap the benefits of web based technology, e-Banking has opened a new dimension that transforms the IT benefits in the financial counterpart.
GAIL, now being equipped with the latest technologies, will be able to give its business partners the very best and the most efficient means of doing business.
GAIL is recognized as a company which is constantly striving to deliver the best to all its stake holders and that cheque-books are now a history in GAIL
11. Goodbye Cheques
12. GAIL’s e-banking - in the media
13. Thank You