A leading financial services major dealing in securities transactions partnered with Birlasoft to modernize its global HR landscape through Oracle HCM Cloud, replacing cumbersome legacy systems with a standardized, integrated solution. The project delivered significant cost reduction, faster payroll cycles, enhanced data accessibility, and improved SLA compliance.
Overview
A global leader in post-trade financial services, the client daily processes trillions of dollars in securities transactions. With over 45 years of expertise, they provide critical clearing and settlement services to financial markets worldwide. Their commitment to automation, centralization, and risk mitigation ensures the safety and efficiency of global trading systems.
The client began its Cloud journey in 2012 with small pilots to modernize IT infrastructure and improve operational efficiency. Over the years, they gradually moved key applications like risk analytics and data archiving to the cloud, achieving increased scalability, reduced costs, and improved flexibility. As a part of this broader initiative, the client sought to modernize their HCM function to streamline HR processes, enhance reporting, and empower employees with cloud-based solutions. They engaged Birlasoft to lead their HCM transformation with Oracle Cloud. Take a look at the details of this engagement below.
The Challenge
1. Disparate legacy applications and growing systemic complexity
The client’s existing PeopleSoft system had accrued significant customizations over the years, which made it difficult to manage the deployment and caused operational inefficiencies. The legacy system, originally designed to handle essential HR functions, struggled to manage the complex needs of a modern, globally integrated workforce. This created challenges in maintaining system integrity and slowed the client’s ability to implement necessary updates. This left the organization with a cumbersome legacy solution that was difficult to scale.
2. Manual and complex reporting processes
PeopleSoft's (PS Query) reporting capabilities were time-consuming and error prone. Generating custom reports required extensive knowledge of the source tables, fields, and table relationships, which led to high dependency on HR and IT teams. This manual reporting process slowed decision-making and limited the scope of actionable insights the client could derive from HR data, resulting in missed operational optimization opportunities.
3. High maintenance costs and resource demands
Maintaining the PeopleSoft deployment required significant manual effort, including applying security and technical patches, keeping the operating system, and addressing application fixes. This high level of maintenance drained valuable IT resources diverted attention from strategic business initiatives, and significantly increased costs. As a result, the client struggled to allocate resources to other critical business areas, impacting overall productivity and growth.
4. Limited scalability and performance issues
As the client’s global workforce grew, the PeopleSoft system proved difficult to scale. The infrastructure could not handle increasing volumes of data, and the system’s performance degraded under the pressure of larger, more complex HR tasks. This lack of scalability also affected the client’s ability to efficiently manage the full range of HR functions across different regions, creating delays in HR operations and leading to a suboptimal employee experience.
5. Difficulty in integrating with third-party systems
Integrating disparate systems to meet the evolving business and regulatory needs was a major pain point, as the existing PeopleSoft architecture required custom connectors and extensive manual interventions to synchronize data. This limited the client's ability to fully leverage advanced technologies like automation and analytics, which are increasingly essential in today's fast-paced financial services environment.
The Solution
With manual reporting processes, high operational costs, and performance limitations, the client needed a modern solution to integrate and streamline global HR functions, enhance employee experience, and improve decision-making capabilities. For such organizations, Oracle HCM Cloud offers a comprehensive, integrated suite of cloud solutions that are scalable, secure, and designed to meet the demands of large, global enterprises. Its robust capabilities in data security, real-time reporting, and seamless integration with third-party systems made it the ideal platform for modernizing complex HR functions for our client.
1. A multi-phased implementation approach to deploy Oracle HCM Cloud
Birlasoft applied a phased, multi-step approach to gradually transition the client’s HR processes to Oracle HCM Cloud, covering key modules such as Global HR, Payroll, and Absence Management. This ensured minimal disruption and maximized operational efficiency post-migration. By working closely with the client, Birlasoft developed a detailed IT roadmap outlining each transformation stage. This mitigated key risks while allowing continuous feedback and adjustment at every phase. Our team also provided L1 to L3 support for the new deployment, ensuring that the transition was fully supported at every stage.
2. Integration with 3rd-party systems via Oracle Integration Cloud (OIC)
To integrate Oracle HCM Cloud with third-party systems, our team used Oracle Integration Cloud (OIC) as middleware, which enabled seamless communication and data flow between surrounding business apps and the new HCM system. OIC provided a flexible and scalable integration layer, reducing the complexity of managing multiple systems and enabling the client to maintain real-time access to crucial HR data across platforms.
3. Enhanced reporting and analytics with Oracle Transactional Business Intelligence (OTBI)
Birlasoft upgraded the client’s reporting and analytics capabilities by implementing Oracle Transactional Business Intelligence (OTBI), which provided them with powerful, real-time reporting tools. OTBI offered quick insights into workforce performance, talent management, and other critical HR metrics, and its user-friendly interface ensured that managers could access actionable data on demand, improving decision-making processes and overall efficiency.
4. Redefinition of HR Processes aligned with industry best practices)
Birlasoft redefined core HR processes across modules like Global HR, Payroll, Talent, and Absence Management to ensure the client's HR operations were optimized for the cloud environment. These processes were re-engineered in line with industry best practices, allowing for enhanced automation, improved compliance, and a more streamlined approach to HR management. This redefinition empowered employees and managers, offering them greater flexibility and control over HR processes.
The Impact
1. 40% reduction in TCO
Migrating to Oracle HCM Cloud enabled the client to reduce the cost of maintaining legacy systems, eliminating expensive patching and updates. This led to significant savings, which were redirected to strategic business initiatives.
2. Faster compensation cycle
Oracle HCM Cloud streamlined payroll processes, reducing the time required to manage compensation cycles. Automation sped up payroll calculations and approvals, improving efficiency and employee satisfaction.
3. Enhanced employee experience with on-demand access
With mobile access and a user-friendly interface, employees gained quick, on-the-go access to HR services and data. This improved overall employee engagement and satisfaction.
4. 98%+ SLA response and resolution rate
The implementation enabled a response and resolution rate exceeding 98%, ensuring prompt issue resolution and system reliability, contributing to smooth HR operations across the organization.
5. 4.8+ CSAT Score
The transition to Oracle HCM Cloud improved the efficiency of HR teams, which led to higher satisfaction among employees and managers. This resulted in a CSAT score of over 4.8.
With Oracle HCM Cloud, the client has modernized the foundations of their HR function and now delivers fulfilling employee experiences through responsive HR services.
Looking to achieve similar outcomes at your organization? Kickstart your HCM transformation with Birlasoft today. Get in touch at contactus@birlasoft.com
