Friday, July 29, 2022

Bank of Baroda Inks Pact With JNPA For “Baroda DigiNext Cash Management Services”

* Baroda DigiNext – SAP integration will help JNPA automate its accounts payables and receivables, bringing in more efficiencies  

Bank of Baroda (Bank), one of India’s leading public sector banks, and Jawaharlal Nehru Port Authority (JNPA), a premier container port in the country announced the successful roll-out of Baroda DigiNext Cash Management Services for digitisation of the port’s accounts payables, receivables and liquidity management.  

JNPA is amongst the largest container ports globally. It has recently implemented SAP for bringing efficiencies in its operations. To help JNPA with its digital transformation, Bank of Baroda has successfully integrated its Baroda DigiNext Cash Management Services with SAP. 

The initiative demonstrates JNPA’s commitment to enhance the ease of doing business for the port users and suppliers through a fully digitised and automated solution for cash application, supplier payments and bank reconciliation. 

Shri Sanjay Sethi, IAS, Chairman, Jawaharlal Nehru Port Authority said, “The SAP system installed at JNPA is aimed to drive business innovations for faster execution of all business transactions. To further enhance it we have collaborated with Bank of Baroda to avail their 'Baroda DigiNext Cash Management Services' to take digitisation at JNPA to a broader aspect and make JNPA's business more organised, automated and efficient. As a part of digitising activities and ease of doing business.” 

Shri Debadatta Chand, Executive Director, Bank of Baroda said, “Businesses are becoming increasingly complex requiring customised solutions based on the size, scope and nature of their operations. In today’s highly competitive world, building in efficiencies and streamlining business processes through digitisation is a prerequisite for success. At Bank of Baroda, we are proud to deepen and expand our relationship with one of India’s premier container ports through thelaunch of Baroda DigiNext Cash Management Services for JNPA. Baroda DigiNext will help JNPA digitise its working capital management and enhance ease of operations for the port authority’s entire ecosystem.” 

About Jawaharlal Nehru Port Trust 

The Jawaharlal Nehru Port Authority (JNPA) at Navi Mumbai is one of the premier container handling ports in India. Commissioned on 26th May 1989, in less than three decades of its operations, JNPA has transformed from a bulk-cargo terminal to become the premier container port in the country. 

Currently JNPA operates five container terminals: The Jawaharlal Nehru Port Container Terminal (JNPCT), the Nhava Sheva International Container Terminal (NSICT), the Gateway Terminals India Pvt. Ltd. (GTIPL), Nhava Sheva International Gateway Terminal (NSIGT) and the newly commissioned Bharat Mumbai Container Terminals Private Limited (BMCTPL). The Port also has a Shallow Water Berth for general cargo and another Liquid Cargo Terminal which is managed by BPCL-IOCL consortium and newly constructed coastal berth.  

About Bank of Baroda 

Founded on 20th July 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 17 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation. 

No comments:

Total Pageviews