Acuent to Provide Systems Assessment, PeopleSoft 8 Implementation For XL Capital; Global ERP Initiative Designed to Streamline XL Capital's Human Resources Functions.Business/Technology Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--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 HRMS Human Resource Management System HRMS High Resolution Microwave Survey (SETI, Project Phoenix) HRMS High Resolution Mass Spectroscopy HRMS High Resolution Molecular Spectroscopy HRMS Human Resources Management Specialist for Bermuda-based XL Capital Ltd (XL). Under the terms of the contract, Acuent will evaluate XL's existing human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. 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 CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. . "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 (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. 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 The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. 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 Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. 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 Intermedia - A hypertext system developed by a research group at IRIS (Brown University). Communications; Port of Seattle The Port of Seattle is a port district that runs Seattle's seaport and airport. Its creation was approved by the voters of King County, Washington, on September 5, 1911. It is run by a five-member commission. The commissioners' terms run four years. ; the State of Georgia; Twentieth Century Fox and the U.S. Army. Acuent has 400 employees and offices throughout the United States. More information about Acuent can be found at www.acuent.com. |
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