Indostar Capital Finance uKnowva had an Unmatched Influence on Indostar’s Workforce in Digitally Empowering Excellence from Hire-to-Retire

400%

400%

Improvement in TAT for offer letter generation or offer letter to joining ration
200%

200%

Improvement in TAT for self evaluation, goal setting, manager evaluation, or overall PMS process
100%

100%

Improvement in data management
100%

100%

Increase in onboarding efficiency
100%

100%

Improvement in attendance management
500%

500%

Improvement in employee engagement

About Indostar Capital Finance

Indostar is a distinguished non-banking finance company (NBFC) authorised and regulated by the Reserve Bank of India as a critically significant non-deposit taking entity. Their organisation is professionally managed and institutionally owned, dedicated to delivering tailored term financing solutions to corporations, both new and used Vehicle Financing for transporters, and Home Finance through their wholly-owned subsidiary, Indostar Home Finance Private Limited. Additionally, they extend loans to SME borrowers across India. Their primary goal is to provide financing options that perfectly align with their specific needs, empowering their clients to embark on a fulfilling journey. Committed to continuous innovation, Indostar strives to develop value-based and cutting-edge financial solutions to cater to their customers' diverse requirements.

uKnowva HRMS implemented in Indostar Capital Finance

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Challenges Faced

Indostar previously conducted manual and decentralised recruitment drives. This resulted in HR managers and recruiters having to individually follow up with candidates to ensure the successful offer letter acceptance and submission of their KYCs at all 360+ locations.
Due to the manual and decentralised preboarding and recruitment processes, Sales Officers sometimes requested to onboard recommended Sales Field Officers without completing their KYC. This resulted in time wastage for HRs at Indostar in consolidating and storing employee data in a unified platform promptly.
Earlier, Indostar used to track the attendance of its employees using physically installed biometric system which costed Rs. 7,000 per location. These were installed in 360+ locations. The lack of virtual and automated tools to track attendance cost-effectively posed challenges in bringing discipline to the system.
Previously, there was a lack of an intelligent system to track acknowledgements from newly hired and existing employees regarding policy documents at Indostar. This resulted in discrepancies among the team members during the annual audit.

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Investigating The CausesView More

Strategy DevisedView More

Departments Benefited

HR

There was no more mismatch of the onboarding and preboarding data. Even BGV vendors got automated updates on new candidates to verify. HRs were aware of the exact stage each employee or candidate was at during their employment journey.

Finance

With the implementation of the exit management module, Indostar ensured timely F-n-F settlements. Additionally, significant cost savings were achieved by replacing physical biometrics with a virtual attendance/biometric system.

Operations

With the QR scanner, it’s easier for corporate HRs at Indostar to execute their operations from preboarding to onboarding. The same was the case for operational efficiency when they implemented the virtual biometric system, integrated with the mobile-enabled HRMS.

Admin

HR professionals do not have to chase the employees, managers, or vendors anymore to complete the preboarding or onboarding. They send automated reminders to the concerned person, and make the forms to acknowledge compulsory when anyone logs into the system.

IT

The uKnowva HRMS portal is easy to use, mobile-friendly, and highly cost-effective for the entire Indostar team. They can easily access, view, audit, or process any required employee data within seconds.

Our Solution
We conducted in-depth market & competitor research before executing the best practices in user experience design.
Digital onboarding
Structured exit management
Compulsory documentation acknowledgement
Fast and flexible PMS
Cost-effective virtual biometric system
Automated BGV process
Structured probation evaluation and confirmation
Social Intranet for purposeful employee engagement across the board
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