One of India's largest business conglomerates Goes Live on Ramco

Global cloud enterprise software provider, Ramco Systems announced that one of India's largest business conglomerates has successfully gone live on Ramco Contract Workforce Management System with Payroll to efficiently manage the organization's 55,000+ contingent workforce, across its Steel, Energy, Infra, and Ports division.

Ramco's comprehensive Contract Workforce Management Solution addresses the complete lifecycle right from Budgeting, Contract Employee Onboarding, Roster Creation to Time & Attendance Consolidation, Payroll Consolidation, and Contractor / Statutory Report generation.

With modules for Payroll, Onboarding, Time and Attendance, Wage / Bill Simulation, bundled with Mobility features, vendor portals for contractors and statutory remittance portals, Ramco's solution has enabled the organization seamlessly manage every single contract worker that is a part of the ecosystem. The integrated 'Aadhar Card Validity' feature also enabled the company to comply with the safety regulation and employee duplicity across its plants.

"With the emergence of contingent workforce, organizations today are looking for applications that can help them address role-based staffing in a timely, cost-effective way, to achieve economies of scale," said Virender Aggarwal, CEO, Ramco Systems. "Infused with Artificial Intelligence and Machine Learning, Ramco's comprehensive Contract Workforce Management System has been preparing organizations manage their new-age workforce in a seamless way. The successful implementation and go-live covering 55000+ contract workers at one of India's largest business conglomerates is a key milestone that will pave way for many organizations to embark on a digitalization journey."

Contract labour has become a necessity in today's cut-throat environment. In order to remain competitive, efficient and cost effective, it has become imperative for an employer to restructure the organisation, modernise the technology, and rely more on contract labour. While engaging with a contract workforce gives the flexibility to attract skilled expertise, address seasonal demands or control labour costs, most companies are not really ready for it. Apart from wages, there are many sensitivities involved in dealing with contract labour workforce, a crucial one being statutory and regulatory compliance, to provide a happy and result oriented workforce for maximum output and efficiency. Ramco's Contract Workforce Management System helps large organizations seamlessly manage contractor and their employees while ensuring adherence to statutory laws and plug revenue leakage.

Shares of RAMCO SYSTEMS LTD. was last trading in BSE at Rs.493.1 as compared to the previous close of Rs. 469.65. The total number of shares traded during the day was 42712 in over 389 trades.

The stock hit an intraday high of Rs. 493.1 and intraday low of 485.2. The net turnover during the day was Rs. 21004569.

Source : Equity Bulls

Keywords