Case Study

Oracle Cloud HCM Implementation for a Leading UK Bulk Annuity Market Firm

Sector: Banking

Overview

How a leading and specialist UK bulk annuity market firm with an investment portfolio growth of almost 59% in the last two years, helped its HR achieve agility, automation, scalability and innovation

  • Over 300 permanent employees
  • Over 100 contractual employees

With almost 237,600 pension holders and £47.7 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buyins to the trustees and sponsors of U.K. defined benefit pension schemes, the firm is a
rapidly growing player in the UK bulk annuity market. Their investment portfolio grew by almost 59% in the last two years, and the number of policyholders grew by 48% during the same period..

Key requirements

Accelerated business growth challenged HR to put their best foot forward.

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Keep pace and align with organisational needs and goals

Value addition

Adapt to change, look beyond existing scale-limiting systems

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Embrace best-in-class superior technology suites

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Innovate to deliver employee delight

Value addition

Automate to reduce discrepancies, human errors, and time lag

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Streamline processes for efficient tracking and on-time delivery

Solution

Transformation using Oracle HCM led to the adoption of best-in-class HR practices on cloud and aligned HR with business needs

  • RAll-in-one, flexible, and scalable HCM solution
  • RProvides one data source for all the HR data
  • RReal-time visibility across the entire workforce, enabling faster and better decisions
  • RTechnology that is relevant and best-in-class through quarterly upgrades

Modules implemented

  • fCore Human Resources
  • fAbsence Management
  • fGoal and Performance Management

Our Approach

The FPL Approach sought to empower the HR department by creating a unified single sign on platform for all processes in an employee’s journey—from recruitment to onboarding to payroll to separation using Oracle HCM Cloud. The approach was built on four major pillars

Automate to reduce manual intervention and enable users to seamlessly coordinate multiple requests and functions

Streamline to build efficiency, increase
collaboration, and reduce fatigue

Intelligence to optimally plan employee development and career

Innovate to deliver rich and insightful analysis for agile decision-making and real-time tracking

Impact

Top 5 Global banks

Delivering employee delight—by streamlining HR processes, introducing mobile on-the-go approvals, and improving co-ordination through trigger-based notifications and remainders

Global presence with initial rollout in Europe, America and APAC

Unifying recruitment processes under a single-platform using automation to enable a fast and seamless experience

Transitioned from Oracle EBS to Cloud

Rich and insightful dashboard suites to empower managers with a holistic view of relevant HR metrics with a click

Automation of the end-to-end recruitment process to create seamless experience for end-users

  • RDocument Management System for a central data source
  • R35 HR processes including talent requisitions, interviews, contracts and offer letters, payroll processing and intimations, approvals
  • RAcceleration of recruitment process through cascading approvals

Streamlining to improve productivity and help managers
focus on high-value activities

  • RManager self-service: Flexible approval routing
  • REmployee self-service: enabling them to manage all their information including absences, leaves, expenses, and goals
  • RReal-time tracking of all HR processes through automated and rich notifications and triggers
  • RReminders and follow-ups of the tasks based on pre-set expiry dates.

Delivering intelligence and analytics through insightful
dashboards to identify trends and patterns

  • RHR Dashboard, Supervisor Dashboard, Recruitment and Learning Dashboards
  • RVisually appealing reports that can provide workforce trends
  • RSelf-service reporting through OTBI
  • REvent-based statements

Innovative goal management system to help employees
achieve career milestones

  • RFlexibility to create goals at any point in the cycle
  • RMultiple goal measurement levels
  • RSystem-generated reminders, escalations, and approvals
  • RGoal weightage

What do Customers value in our partnership?

Our solutions are designed with a
customer first approach

We take care of end-to-end
implementation and offer
comprehensive support service

We are proven, trusted partners of top-tier companies across sectors such as finance, banking, insurance, and retail

Our experience in transforming mission critical applications for Fortune 500 companies including finance, banking and insurance, and retail companies across the globe makes us one of the leaders and trusted partners for Oracle Cloud implementations.