Ramco Systems signs pact to manage payroll operations

The shares of Ramco Systems were trading in green on Tuesday after the company informed the bourses that it had signed an agreement with Classic Fashion Apparel Industry, the largest apparel manufacturer in the Middle East. The pact was signed to implement Ramco's global payroll and workforce management solution, in order to automate the payroll and attendance of more than 30,000 employees.

Speaking on the announcement, Virender Aggarwal, CEO of Ramco Systems stated that right from clocking the time-ins and time-outs, scheduling right resources for right tasks, to calculating pay-outs based on the output or work hours, Ramco’s Global Payroll Solutions would help Classic Fashions manage its employee ecosystem effectively. He further went on to state that the collaboration will help both the companies to broaden their geographic horizons.

Ramco Systems is engaged in computer programming, consultancy, hosting and related activities. It offers software solutions and services, catering to Third-Party Logistics (3PL), freight forwarders and network service providers.

At 2.45 pm on Tuesday, the stock was trading at Rs 169.55, up by 3.42 per cent or Rs 5.60 per share. The 52-week high is recorded at Rs 276.20 and the 52-week low is Rs 134.40 on BSE.