London and Mumbai, 11th August, 2003. Staffware, a global leader in workflow and business process management (BPM) software, announces that HDFC Standard Life Insurance has chosen* to implement its leading workflow solution to automate and support business processes across the organisation. HDFC Standard Life will use the Staffware Process Suite to automate its new business, customer and policy management processes, to control costs and maintain high levels of customer service at a time of rapid growth.
Part of the market-leading HDFC Group in India, HDFC Standard Life was formed in 2000 through a partnership with Standard Life Assurance Company of the UK. Following deregulation of the Indian insurance market, a number of players have entered the market, drawn by increasing affluence among the 1 billion plus population. In order to maintain competitive advantage in this market, HDFC Standard Life was keen to invest in workflow technology that would allow the business to grow rapidly but cost-effectively. The company recognised the importance of standardising processes to maintain control and agility so that it can offer superior service to its customers and be in a position to react swiftly to new regulations, competitive pressures and new market opportunities.
The strategic significance of this decision, as well as the requirement for a rapid return on investment, demanded a stringent assessment process which involved detailed specifications, technical and functional workshops, along with site visits to existing customers. Staffware was selected as the best-of-breed product at the end of this process, based on its industry-leading technology, scalability and ability to support enterprise-wide process management. Of equal importance was the strength of the company, its exclusive focus on workflow and BPM solutions and its long-term commitment to India.
The Staffware solution is being implemented initially to automate and streamline the processing of new business at HDFC Standard Life in Mumbai but the goal is to extend the reach of the product to make process management a central element of business operations throughout the organisation.
Sunil Rawlani, Head of Information Technology at HDFC Standard Life Insurance, commenting on the decision, said: “Our success depends upon the level of service we offer to our customers, and process management is the fulcrum between the services and the products we offer. Service is the true differentiator in our market and effective, standardised and controlled processes are the routes to exceptional service levels. As a business process specialist, Staffware implicitly understands this. They not only demonstrated that they had the best technology, but that they also understood the pressures on our business. This meant that their solution could deliver very real advantages in a short time frame.”
Paul Maguire, Country Manager for Staffware India, added: “HDFC Standard Life has already demonstrated that it is one of the most forward looking financial organisations in India. Through the use of workflow and document imaging technologies, it is opening up a competitive advantage between itself and the other players in the marketplace. By placing workflow at the core, the organisation can maintain rapid growth without attendant increases in costs, and at the same time achieve faster throughput of tasks and enhanced customer service. I am delighted that Staffware has been chosen to help HDFC Standard Life achieve these business imperatives.”
* This contract was initially awarded in December 2002 but details of the contract have remained confidential until this time.
Staffware is the leading Business Process Management specialist and has over 2 million licensed users in 5,000 customer organizations within the Banking, Insurance, Telecommunications, Utilities, General Commercial, Manufacturing, and Government sectors. Staffware is headquartered in the UK, has offices in 16 countries and employs approximately 350 people. The company is listed on the London Stock Exchange and is the leading profitable, debt-free, global vendor focused exclusively on providing BPM solutions.
Staffware’s BPM expertise has evolved from 15 years of automating and managing processes, so the interaction of people and processes has remained central to its philosophy. Unlike the majority of its competitors, it has a deep understanding and unique insight of the complex people-to-people, people-to-application and application-to-application interactions that make up business processes.
The Staffware Process Suite provides a complete set of tools to create, transform and streamline the internal and external processes and tasks of an organization. Staffware enables the creation of an Independent Process Layer that separates process from the underlying IT/data environment, facilitating the rapid development and change to an organization’s process. The Staffware Process Suite is an open and standards-based solution that ensures seamless integration and full interoperability with existing IT infrastructures and applications.
For further information:
Tel: +44 (0)1628 786800
Kristen Lazur/Stephanie Kane
Harvard Public Relations
Tel: +44 (0)20 8759 0005
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