Hyperledger Global Forum 2022

As the largest Oil & Gas and the most profitable company in the world, Saudi Aramco has complex procurement & payment processes. Contracting, delivery & payment processes with hundreds of suppliers across thousands of services & orders is tedious and entangled with heaps of documentary proofs, verification reports, third party evaluations & a barrage of internal checks & controls. Despite investing in some of the best ERP technologies, Saudi Aramco & it’s suppliers face a multitude of challenges, delays & even disputes in procurement & payment cycles. Avanza helped Aramco address these age-old challenges, discrepancies & in-efficiencies by developing a HLF Based Procure to Pay platform. Deployed on IBM’s IBP, the Platform helps streamline & automate entire delivery related documentation & verifications in real time, thereby bringing huge efficiencies to the overall invoice verification & payment processes. Tightly coupled with complex contract terms, platform is a self-regulating network that enables Aramco’s suppliers & internal departments to agree on all aspects of services, goods delivered & associated payments. Platform was launched in Aug 21 & is rolled out to 13 suppliers.