Case Study

Shriram Transport Finance Deploys Matrix Solutions Across India Network

Project Highlights

Application: Time-Attendance and Access Control

Users: 20,000+

Locations: 700+ (PAN India)

Reader: Fingerprint (with Optical Sensor)

Industry: Banking, Financial Services, and Insurance (BFSI)

Company Profile

Shriram Transport Finance Company (STFC) was incorporated in the year 1979. With its head-office in Mumbai, STFC has 700+ branches across India. It is a part of the ‘SHRIRAM’ conglomerate, which has significant presence in financial services viz., commercial vehicle financing business, consumer finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance products and units of mutual funds. Apart from these financial services, the group also has presence in the non-financial sector business such as property development, engineering projects and information technology.

Challenges

The 700+ branches of the company include the head-office, regional offices and branch offices under each of the regional offices. Previously, the company was using biometric devices of a different brand at some of its locations, while managed attendance data manually at the remaining locations. As a result, accurate attendance management of all employees at each location and processing their salaries on time became a tedious, time consuming and error prone task for the HR team.

STFC was looking for a biometric based centralized Time-Attendance solution. They wanted centralized Time-Attendance management of all employees from its Mumbai based head-office. Along with attendance management, the company was also looking for a solution that would help them monitor and control any unauthorized entry at the branches. Additionally, they wanted to integrate the Time-Attendance software with their existing HRMS software for speedy and timely salary processing.

Matrix Offered Solution

Matrix offered its enterprise-grade, web based COSEC Time-Attendance solution with centralized attendance and leave management features. Biometric fingerprint based devices were installed at all locations to mark a user’s attendance. For fast and error-free salary processing, Matrix integrated COSEC Time-Attendance with their existing HRMS payroll software. At branches where the company required access control, Matrix has installed biometric fingerprint based access control devices to control people movement. This comprehensive solution automated all Time-Attendance processes right from recording entries and exits up to processing salaries.

  • Biometric Time-Attendance Terminal at 700+ Locations
  • Biometric Door Controllers for Access Control
  • Connected all Locations using Ethernet
  • Centralized Attendance Management Software
  • Integration with Third Party HRM Software

Results:

  • Time Required for Salary Calculation Reduced by 30%
  • Productivity of Employees Increased by 15%
  • Increase in Security in Sensitive Locations
  • Error-free Time-Attendance Data for Salary Calculation
  • Faster Decision making using Informative Reports

Products:

  • COSEC DOOR FOT – Biometric Fingerprint based Door Controller
  • COSEC ENROLL FINGER – Fingerprint Enrolment Station
  • COSEC LE PLATFORM – Web based Application Software Platform
  • COSEC LE TAM – Time-Attendance and Leave Management Module
  • COSEC LE ACM – Access Control Module
  • COSEC LE USER10000 –User License for 10,000 Users

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