GAIL (India) Limited has won the SAP ACE Award 2024 for Best Financial Transformation, the second consecutive year it has earned the recognition. The award highlights the company’s impressive achievement in digitally transforming its trust accounting process using SAP Treasury and Risk Management (TRM), demonstrating its dedication to financial innovation and operational excellence.
The award was received by GAIL Director (Finance) R K Jain at a function here. Commenting on the achievement, he said, “It is a great honour and privilege to receive this prestigious award. We have always been committed to make a difference in the lives of stake holders by empowering them in every possible way.”
SAP ACE awards are an industry benchmark to recognise the best-run businesses in the Indian subcontinent. It recognises and lauds excellences in IT innovation across lines of businesses, who are bringing about a digital impact in India’s economy through implementation of SAP Solutions.
GAIL’s implementation of Trust Accounting through SAP TRM was a groundbreaking initiative that addressed the lack of a standard solution for trust business. The GAIL and SAP team crafted a unique solution by integrating SAP TRM, Fiori, Workflow & Adobe Forms. This innovation not only revolutionized GAIL’s trust accounting but also brought enhanced efficiency, accuracy, and compliance. The solution enabled automatic interest calculations, real-time reconciliation, and effortless PF, Pension card updates via an easy-to-use Fiori interface. Workflow ensured smooth approvals, while Adobe Forms and Record & Case Management streamlined documents and maintained compliance.
This solution has set a new benchmark in trust accounting systems for other peer companies such as Government organizations and PSUs.
