Driving Payroll Accuracy & Efficiency for a Leading Private Sector Bank
Company Overview:
Name: Leading Private Sector Bank
Industry: Banking
Employee Strength: 1,06,922
Locations: Pan India
Client Since: 2003
About the Client:
A leading Indian multinational banking and financial services company headquartered in Mumbai. It ranks as India’s third-largest private sector bank by assets and the fourth-largest by market capitalization, with a reported revenue of ₹155,917 crore.
Why Did the Bank Choose TSR Darashaw As Its Payroll Outsourcing Partner?
As part of the TeamLease HRtech portfolio, TSR Darashaw combines deep domain expertise with modern payroll technology to deliver reliable, compliant, and scalable solutions. With over 25 years of experience serving diverse segments like BFSI, Manufacturing, IT/ITES, BPO, and Retail, the platform ensures end-to-end payroll efficiency, from salary disbursement and tax management to statutory compliance and reporting.
- 50+ Years of Expertise
- 2.2+ Lakhs of Payroll processed every month
- Robust DR/BCP Infrastructure for business continuity
- ISO & SOC 2 Certified
The Solution Tailored for the Bank
The bank transitioned to our managed payroll services with a focus on automation, compliance, and operational scalability. A major highlight was the implementation of a seamless Exit Module, customized for the bank’s complex workflows.
Additional solution components included:
- Automated twice-weekly FnF processing aligned with strict TATs
- Full-scale digitization with 24×7 Employee Self-Service (ESS)
- End-to-end historical data access and reporting, with archives available from 2010 onward
- Integration with their HRMS – Oracle Fusion
- Implementation of key modules:
- Flexi Pay Module
- Reimbursement Module (CTC/Non-CTC)
- Leave Management Module
- Exit Management Module
Key Outcomes of the Partnership
- Accuracy: Achieved a flawless 100% payroll accuracy rate
- Efficiency: Processed over 350 payroll inputs per cycle within just ~10 days
- Team Optimization: A lean, 20-member team efficiently manages high-volume payroll operations
- Automation: Exit processes are fully automated, minimizing manual effort and improving employee experience
- Audit Readiness: Seamless completion of monthly and quarterly audits with comprehensive documentation
- Time Savings: Significant operational efficiency gains for HR and payroll teams
- Employee Experience: 24×7 access to payslips, full & final settlements, Form 16, and salary history via a self-service portal
