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VRL Logistics Ltd: Streamlining Toll Payment Reconciliation with IoT
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Networks & Connectivity - NFC
Applicable Industries
- Finance & Insurance
- Transportation
Applicable Functions
- Logistics & Transportation
Use Cases
- Last Mile Delivery
- Transportation Simulation
Services
- System Integration
The Challenge
VRL Logistics Ltd, the largest logistics and transportation company in India, was facing a significant challenge in reconciling bank statements with automatic toll charges incurred by their vast fleet of vehicles. The company's finance department had to manually cross-check bank statements against toll charges to ensure that they were not being overcharged. This process was not only labor-intensive but also prone to errors. The lack of an automatic reconciliation system between the bank's records and the toll charges was a major hurdle in the company's operations, affecting efficiency and accuracy.
About The Customer
VRL Logistics Ltd is India's largest logistics and transportation company. Established in 1976, the company boasts a fleet of nearly 4000 transport trucks, over 400 tour buses, and nearly 1000 branches and franchises spread across the country. VRL Logistics Ltd offers a wide range of services including courier services, priority cargo, parcel service, air charter services, and warehousing solutions. The company's operations are complex, managing a vast fleet of vehicles and dealing with the challenges of the transportation and logistics industry.
The Solution
To address this challenge, VRL Logistics' IT department developed a custom component in their ERP system, powered by Infobip, to automatically reconcile bank statements with toll charges. This innovative solution leverages the power of SMS to deliver real-time toll payment details. Every time a vehicle is automatically charged at a toll, an SMS message containing the payment details, exit time, and toll name is sent via a Virtual Long Number (VLN). The ERP system receives this SMS and automatically matches the payment with the corresponding entry in the bank statements. This solution not only eliminates the need for manual reconciliation but also ensures accuracy and timeliness in the process.
Operational Impact
Quantitative Benefit
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