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Bangalore, India - 24 Apr 2014:
IBM (NYSE:IBM), today, announced that India-based company Polaris Financial Technology Ltd, a global leader in financial technology for Banking, Insurance and other Financial Services, has selected its social software to provide employees with a superior digital experience, improve workforce productivity and accelerate business growth.
By adopting IBM’s leading enterprise social collaboration platform, Polaris FT is transforming how its 12,500 employees connect, communicate and collaborate to drive greater workforce productivity. Instead of relying solely on email to drive essential business tasks and project coordination, the new platform allows Polaris FT to leverage the collective knowledge of every employee to fuel new innovation, ideation and future business growth. This includes a significant reduction in the time it takes to on-board employees new to the company.
Working with IBM, Polaris designed and developed Octopus, an enterprise social platform that runs on IBM Connections and uses APIs provided in the. This application makes it easy for IBM partners and clients like Polaris to build an entirely new class of cloud-based social business applications for their businesses using the Connections foundation. With Octopus, Polaris is able to apply social networking, social learning, digital experiences and knowledge/content management tools based on an open cloud-based, mobile architecture.
Octopus manages all project deliveries, customer related interactions, knowledge-sharing, online collaboration and employee engagements taking place across the business – a transformation that has helped increase total enterprise productivity. Through the 360-degree view and central information storage that Octopus enables, Polaris is no longer solely reliant on email to record, deliver and collaborate on projects and has improved the way it communicates and engages with customers.
In recognition of its capabilities, in October 2013, Polaris' Octopus was the recipient of ‘The Astute 100 – Honoree 2013’ award, given out annually by the CIO 100 Awards.
“Octopus has enabled our company to better understand the role between employee engagement and business performance. Equipping our workforce with an effective social collaboration platform has created a more flexible working environment and helped to improve communication within the organization and with our customers,” said Shashi Mohan, CTO & CIO, Polaris Financial Technology. “In fact, this effect can be quantified. Our analysis has shown that Octopus has ushered an 8 percent reduction in effort, lowered attrition by 4 percent and has reduced on-boarding time by a whopping 75 percent!”
“Organizations around the globe continue to look for ways to create a smarter enterprise that connects customers, employees, business partners and other key stakeholders to share ideas, spur innovation, improve performance and outpace the competition,” said Anmol Nautiyal, Director, IBM Social Business & Smarter Workforce, India/South Asia. “Time and time again, the answer continues to be social technologies. Whether delivered on-premise or in the cloud, social allows businesses to drive strong teaming both inside and outside the organization which in the end leads to strong collaboration and workforce productivity.”
Adoption of social business solutions continues to soar as organizations around the globe look to transform into smarter, more connected and empowered enterprises.
Deploying a secure and highly customizable enterprise social platform allows companies like Polaris to create a flexible environment that is able to capture valuable insights and more easily engage all key stakeholders – employees, customers, partners and suppliers – to accelerate innovation and deliver results.
IBM is helping SMBs drive a paradigm shift in which problems are anticipated and resolved proactively rather than simply by reacting. Success in the era of smart will be achieved by transforming organizations through analytics, mobile technology, social business and cloud-based systems to help smaller organizations become Smarter Enterprises.
To find out more about Polaris' transformation into a social business-oriented organization, watch the video at https://www.youtube.com/watchωv=xWzM65n4m7k
|Banking and Financial Services
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