Ramco will offer its HR outsourcing (HRO) services on top of Ramco's HCM (Human Capital Management) product, it said in a statement.
IT firm Ramco System has secured a five-year contract from the Asia division of Vopak, the world's largest tank storage provider, to integrate a part of the latter's regional human resource functions into a single platform, the company said today.
No financial details were disclosed. Under the deal, Ramco will offer its HR outsourcing (HRO) services on top of Ramco's HCM (Human Capital Management) product, it said in a statement.
Ramco's HCM and HRO services will be made available to over 700 employees across eight Vopak entities in Singapore,Indonesia, Vietnam, Australia and India, it added. Ramco HCM on cloud will integrate payroll, e-leave, benefits processing, employee self-service and time management functions into a single platform and offer services to Vopak employees besides access to advanced HCM analytics for business and HR leaders.
"Ramco is deeply committed to providing mobility and intuitive interfaces with differentiated value. Our ability to address every need of the HR community with a combination of platform, product and service is helping us get the winning edge in a cluttered market," Ramco Systems CEO Virender Aggarwal said.
Netherlands-headquartered Vopak operates 79 terminals in 29 countries with the Asia division accounting for 26 terminals in 10 countries.
Ramco System stock price
On August 19, 2014, Ramco System closed at Rs 390.90, up Rs 18.60, or 5.00 percent. The 52-week high of the share was Rs 395.00 and the 52-week low was Rs 67.00.
The latest book value of the company is Rs 114.51 per share. At current value, the price-to-book value of the company was 3.41.
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