With this aim, ICICI Prudential embarked on an exercise to develop a fully integrated HR system using highly customized core HRMS ERP software and non-core satellite applications. Accordingly, the firm designed a solution that had two major components: core HRMS and satellite applications. Core HRMS activities included customization on Peoplesoft HCM 9.0. Subsequently, non-core satellite applications related to recruitment, payroll, claims processing, document tracking, and maintenance were developed.

The Peoplesoft instance and the integrated satellite applications have been geared to automate majority of the HR processes. This includes manpower planning, recruitment workflow, hierarchy management, role management, attendance, leave management, salary and compensation processing, probation and performance management, training and exit. As a result, the functioning of the whole department has become paperless with 98 percent automation.

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.

With a base of more than 2,000 employees, the automation has helped ICICI Prudential achieve tangible cost savings of more than Rs 30 crore.