Central Bank of India, public sector lender has implemented a human resource management solution (HRMS) package to meliorate the productivity, skill development and chart out succession planning. It has already automated all customer-centric functions through the core banking platform and now bank has done the same for its internal employees.
IBM has implemented this HRMS package by automating 30 human resource (HR) processes, including pay roll, leave application, reimbursement of hospitalization, newspaper, and leave travel concession, and booking of holiday homes. The HRMS package is based on the self-service concept. It has brought about considerable reduction in the turnaround time of the processes involved.
Prior to this implementation payroll processing in the central office used to take 12 hours but now it takes just 20 minutes. The bank aims to see significant reduction in costs as a result of the HRMS. Due to automation of the 30 HR processes, every month it will save on one lakh sheets of paper.
Company Name | CMP |
---|---|
SBI | 801.40 |
Bank Of Baroda | 268.15 |
PNB | 136.45 |
Canara Bank | 617.55 |
Union Bank Of India | 150.85 |
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