MUMBAI, June 23, 2016: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions organization, announced that CHROMA™ - the TCS’ cloud based HR solution platform will implemented at the Bajaj Finance Limited (BFL), a leading non-banking financial company in India.
The platform will enable and enhance the new generation HR experience to over 6000 employees in BFL. With integrated processes on a single platform, Bajaj Finance Limited can automate talent management process with consistent, real-time, and crossfunctional view. Through CHROMA™ platform, BFL will be able to manage recruitment, on-boarding, employee lifecycle processes, performance management, leave management, payroll, and performance appraisal.
For the first time BFL will also able to set up the competency catalogue and track the required, held and aspirational competencies of its employees under competency management. The platform also has modules to track career development, learning, succession planning, leave management, compensation, employee surveys as well as recognition and rewards of the employees.
Deepak Reddy, Chief – Human Resources, Administration & Group Learning Academy, Bajaj Finance Limited, said, “At Bajaj Finserv, we are constantly looking at innovative solutions which can make our processes and systems more efficient and yet be user friendly. By deploying CHROMA™, an integrated HR Solution, we will be able to manage our HR processes more efficiently and thereby reducing administrative efforts involved in transactional HR activities. We are looking forward to a long term relationship with a single accountable partner, TCS.”
Raj Agrawal, Global Head, TCS Platform Solutions, said, “Attracting, nurturing and retaining the right talent is of paramount importance to financial services companies. TCS’ capabilities and experience managing a large employee base has culminated in creation of CHROMA™ which will enable Bajaj Finance and its associated companies to deliver an enhanced experience to their multi-generational employee base. By leveraging digital technologies in a most efficient way, CHROMA™ is testimony of our commitment to cater to the dynamic needs of the HR community by providing extremely simple to use User Interface yet feature rich Talent Management Solution.”
CHROMA™ is TCS’ talent management platform that enables enterprises to drive next generation employee experience, establish a collaborative work culture and effectively manage organization’s talent base. It enables enterprises with an integrated competency based talent management approach across the hire to retire employee lifecycle events. The solution enables enterprises to drive innovative strategies for multi-channel sourcing, continuous feedback based appraisals, collaborative learning and insight based leadership development. It has intuitive user interface, self-services, social collaboration features, and mobile enablement. CHROMA™ can be deployed as an integrated HR platform to replace existing systems or as a modular platform in one or more talent management functions. CHROMA™ can be bundled with HR administrative services and delivered as an integrated as-a- service offering on a Pay per use model.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending arm of Bajaj Finserv group, is one of the most diversified NBFCs in Indian market, catering to more than 6 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Home Loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction Equipment Loans, Loans against Securities, and Rural Finance, which includes Gold Loans and Vehicle Refinancing loans. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
To know more, please visit www.bajajfinserv.in
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 353,000 of the world’s best-trained consultants in 45 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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