Today, banks repeatedly surpass other financial institutions regarding assets and, capital, regional coverage.
Banks are accepted as a critical element of the country's financial system. The innovative development of information technologies and services is reflected in the complex and essential system of the banking sector. Today's software allows solving even the most challenging problems quickly and promptly. Considering this, the Bank of Baku, one of the largest banks in Azerbaijan, started to cooperate with Ultra Technologies to centralize such operations as recruitment, staff management, training, and career development, payroll management, management of advance payments, bonuses, salary increment and deductions, staff performance monitoring, generation of accounting entries and management of reports required by law. As a result of this cooperation, Ultra Technologies and SIVECO, one of the largest system integrators in Romania, implemented the project "Human Resources and Payroll" (HR & Payroll) at the Bank. The existing system applied in more than 100 foreign banks wholly adapted to the labor legislation of Azerbaijan.
The project, implemented as a result of professional teamwork, will provide the Company with great opportunities, such as systematization of the recruitment process, forming a database of all employees in the Company, quick receipt of any report, and complete control over staff activities. Moreover, the system has superior functions such as organizational structure management, training processes, taxes and deductions, activities, and payroll. Self-service is one of the main distinguishing factors of the system. The project has been completed, and the Bank continues to operate in a centralized system with full technical support provided by Ultra Technologies. Similar projects have been implemented by the Ultra Technologies Ministry of Economy and Industry of the Republic of Azerbaijan, the Ministry of Justice of the Republic of Azerbaijan, the Forensic Science Centre of the Ministry of Justice of the Republic of Azerbaijan, AzerSigorta OJSC, and dozens of other organizations.