Global ERP Initiative Designed to Streamline XL Capital's Human Resources Functions
PARSIPPANY, NJ - March 11, 2002 ... Acuent Inc., a full-service systems integrator, today announced that it has been contracted to perform a systems assessment and to implement PeopleSoft 8 HRMS for Bermuda-based XL Capital Ltd (XL).
Under the terms of the contract, Acuent will evaluate XL's existing human resources systems and processes, and make recommendations for change. Currently, the XL group of companies uses a variety of human resources systems, making it difficult for the company to track and manage employee data. Acuent consultants will help XL standardize business processes globally and will identify opportunities to leverage existing technology prior to implementing PeopleSoft.
After completing the assessment, Acuent will conduct a phased implementation of PeopleSoft 8. The first phase-which includes implementing core HRMS capabilities in the United States, England, Ireland and Bermuda-is scheduled to go live next quarter. The new system will enable XL to consolidate its human resources data, resulting in more accurate reporting capabilities.
"We decided to partner with Acuent because we were impressed by the depth of their experience with business process redesign and PeopleSoft implementations," said John Hodge, XL's global CIO. "We're confident that they have the business and technical expertise to successfully complete this project," he added.
"XL's shrewd decision to conduct a strategic redesign of its business processes prior to its ERP implementation will enable the company to better leverage the Web capabilities of PeopleSoft 8," said Tom Ferrando, president and COO of Acuent. "We're pleased to collaborate with them on this global initiative," he added.
XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies and other enterprises on a worldwide basis. As of June 30, 2001, XL had consolidated assets of approximately $18.7 billion and consolidated shareholders' equity of approximately $5.7 billion. More information about XL is available at www.xlcapital.com.
Acuent Inc., based in Parsippany, N.J., provides integrated business and technology solutions for Fortune 1000 companies, institutions of higher education and the public sector. The company has more than 400 customers, including City of Milwaukee; Contra Costa County, Calif.; D.C. Public Schools; Exostar; Intermedia Communications; Port of Seattle; the State of Georgia; Twentieth Century Fox and the U.S. Army. Acuent has 400 employees and offices throughout the United States.