'SAP Will Offer Us A Single View Of The Customer'

Recently, HDFC Standard Life Insurance selected SAP as its technology partner. Anil Nadkarni, senior vice president-ERP, HDFC Standard Life Insurance, gives a quick take on where the company is headed with the deployment of SAP solutions.

When and why did you feel the need to partner with SAP?

The organisation had many discrete systems. Although they met organisational needs, functional integration was missing, which resulted in users having multiple versions of data. There was a desperate need to have integrated software in place for linking the back-end processes. A new solution was also required to integrate all the customer-centric solutions deployed at the front end. Now SAP is expected to bring a single view of the customer captured across multiple channels.

Which SAP solutions does HDFC Standard Life plan to bring into use?

We will be implementing the Procurement, HR, Financials, and Incentive Compensation Management modules from SAP. As the overall software is an integrated one, the implementation of these functionalities will mean some spill over into other functionalities as well.

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When do you plan to roll out the first phase of deployment?

The first phase of this project will be rolled out in Q3 of the current FY. It will hit all the employees associated with the company. Therefore, a high degree of training is also planned for all the employees.

How will the deployment of SAP solutions benefit the company?

An integrated solution like the one from SAP will help the company in understanding the customer’s financial health better. It will also help in optimising the resources available and managing funds more effectively. The HR version of the software will ensure that the entire workforce is addressed amicably and with the best personal care possible.

What are the changes it will bring in the insurance process?

The process will be wholesome; right from prospect evaluation to customer gain to further monitoring the financial health of the customer. The SAP solutions will help the business in managing customer returns, understanding the needs of the customer and managing integrated back end operations in an era where the insurance industry is growing by leaps and bounds.