Case Study: an oil and gas company streamlines procurement and cuts TAT with Procol

How Procol Helped An Oil and Gas Industry Leader Optimize Procurement Functions

The customer, an oil and gas company, faced challenges with a lack of visibility in its procurement processes, manual spend analysis, and lengthy negotiation cycles. This lack of a central system hampered cost-saving opportunities and business expansion. The company approached Procol to automate its procurement functions and implement a centralized dashboard for better oversight.

Procol implemented its reverse auction platform and spend analytics dashboard to automate procurement, introduce e-auctions, and provide strategic spend visibility. This solution helped the oil and gas company optimize expenditure worth INR 1.47 crores, generate significant savings in logistics and raw materials, and improve its procurement turnaround time by approximately 80%, reducing it from 24 hours to just 2 hours.