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Case Study:

ICICI Prudential ICICI Prudential is a joint venture between Prudential plc, a leading financial service group based in the United Kingdom, and ICICI Bank engaged in providing life insurance based in Mumbai. It is the largest private sector company and the second largest overall in India after LIC.Its capital stands at Rs. 37.72 billion and assets are about Rs. 30000 crores.It has shown a growth of 68% in 2008 - 09 fiscal year and underwritten 3 million policies in that period. It has the most widespread network of offices with over 2000 proprietary offices and the company is 30000 employee strong making it one of the largest agency distributions. It has a ever expanding range of policies that match the difficult needs of customers in a growing economy. Introduction of automation into the HR of ICICI prudential has resulted in a cost saving of more than 30 crores. They are operating in a difficult industry, the company decided to opt for an approach in their HR department that is paperless. This would increase efficiencies and substantially diminish the costs. They decided to implement a main highly customised ERP software and other satellite applications. They then implemented a customized PeopleSoft Human Capital Software 9.0 at the core and other small softwares related to payroll and claims. The core and various other applications were integrated and geared to be automated for most tasks. As a result of this implementation the department was 98% automated and paperless. Additionally, the turnaround time adherence of 20 HR operation processes has achieved an average of 5 sigma levels, while the accuracy adherence of 12 HR processes has achieved an average which is above 4.5 sigma levels. PeopleSoft a ERP provider is centered around it HRM capabilities PeopleSoft has increased it presence in India with its first deal with Pricewaterhouse Coopers in India PeopleSofts other clients include J P Morgan, L & T and many other banks in India. It has its HR Helpdesk 9.0 that is implemented by many companies. This package includes standard features of a HR package. It has extra features like Global workforce management - where a single application can be used to manage regional and international workforce which can be used in many languages and multiple currencies.

Total Compensation Management, Reporting, and Analysis system that takes care of the salary plans, monetary and non-monetary compensations for employees. Creating Multidimensional data warehouse comprising data from various systems and giving HR, payroll and analytical reports in one location. Automated labour management which keeps track of contracts, we can define automated wage progression rules that will update wages automatically. Competency, Career, and Succession Management which help us identify employees and assign them to project teams and positions, it helps us identify employees that may need training to improve performance, it can find leadership gaps in the organization and help plug them. Keep track of employees and their health issues and health claims to keep an eye on employee with liability issues. Calculation of accurate departmental budgets with different constraints for any time periods. Benefit management to manage all benefit programs for employees. There is support for user who created the case to have an interaction with an HR employee via live chat. Provide employee case history, job data, payroll data, benefit management and reporting all together in a single application. It implements whiteboard technology. Ability to create grievance case exists.

HR departmemt being one of the most important has seen a complete change and revolution caused by information systems. With these implementations in HR have caused an improved functioning of HR deptartments. There is a reduction in operating costs. It gives emplyees more time to complete other roles and lesser time to complete eachg task resulting in more productivity. Though these systems may have a few drawbacks but the benefits greatly exceed those drwabacks, thus with the competitive world these systems can provide an edge.

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