The firm claims its offering will accelerate the movement of data and reducing transaction costs by up to 80 per cent.
The new exchange, AutoDX, was developed in partnership with industry bodies Society of Indian Automobile Manufacturers (SIAM) and Automotive Components Manufacturers Association (ACMA), IBM said in a statement.
Indian auto manufacturers and parts suppliers have relied on manual processes to exchange transactional data, including thousands of invoices, purchase orders and shipping notices created each day. This approach was prone to human error, extensive transaction delays and increased processing costs.
"The new exchange, which is built on IBM's Sterling B2B Collaboration Network technology, will eliminate these inefficiencies by standardising, automating and accelerating the exchange of transactional data through the cloud," it said.
This will enable members to drive faster, more accurate processing at reduced operational cost, helping ensure the right products are delivered to the right customers at the right time, the US-based firm said.
"Representing over 750 of India's top auto manufacturers and parts suppliers, ACMA and SIAM expect the majority of its members to adopt the platform by the end of the year, making IBM the prevailing provider for Electronic Data Interchange in India for the auto industry," it added.
Leading auto OEMs and suppliers have already integrated AutoDX into their processes, including Tata Motors, Hero MotoCorp, SSS Springs and Sundram Fasteners.