Mahindra Satyam has signed a contract to implement SAP ERP for the Insurance Regulatory and Development Authority (IRDA) in India.

Under the agreement, Mahindra Satyam will implement ERP which includes human resource management, payroll, self-service portals, accounting modules, and connected hardware and software.

Mahindra Satyam will also provide post implementation support services.

The company said that this contract will help IRDA to standardise and automate business processes across its units, enabling faster decision making and enhanced financial reporting.

Mahindra Satyam Middle East, Africa & India business head and senior vice president Dilip Jha said the contract with IRDA reiterates their capacity to address the specific needs of the insurance industry, and also underlines their strategic partnership with SAP and their expertise in implementing enterprise ready SAP offerings.

"We look forward to helping IRDA deliver fast, accurate business decisions and provide exceptional value to its numerous employees more effectively," Jha said.