HDFC Standard Life, one of India's leading private life insurance companies, has selected SAP to deploy its solutions enterprise wide to integrate the company's internal business functions including finance, procurement, incentive & compensation management, HR activities etc thereby strengthening its business infrastructure.
Paresh Parasnis, principal officer and executive director, HDFC Standard Life, said the implementation of SAP platform will help the bank facilitate better understanding of customers apart from enhancing its delivery capabilities, running more profitably and productively.
The SAP deployment is expected to improve data accuracy and eliminate manual processes, giving business executives in-built business intelligence to aid decisions.
In addition, SAP industry packages like SAP Incentive and Commission Management, SAP Marketing for Insurance, SAP Sales for Insurance and SAP Service for Insurance will facilitate HDFC Standard Life to address the business requirements of the Indian life insurance industry.
HDFC SL, in a press statement, said it especially chose SAP because it fit the criterion of a highly scalable solution that met their current and future needs. Right from core business processes to distribution channel management and customer relationship management, the SAP platform provides an integrated solution that enables a single view of business data across the organization.
