Pension Insurance Corporation PIC

A specialist UK insurer that replaced its bureau payroll and ageing HR system with an integrated Oracle Cloud Finance and HR platform, a managed payroll service, and a Fusion Practices managed support service.

PIC wanted to implement a new integrated Finance and Human Resources Information System (HRIS) that included a Managed Payroll Service. The chosen system also had to offer Performance Management with 360 degree reviews, Recruitment and Applicant Tracking, Onboarding, Talent Management, and Learning Management.

PIC's payroll was run on a bureau basis by a partner accountancy firm, and the old HR system no longer met the HR team's needs. The project started with a requirement to replace the payroll service. PIC then recognised that the HR team needed additional technology to simplify areas that had become more urgent because of continued growth in headcount. The existing systems and suppliers could not deliver these requirements, so PIC reviewed the entire HRIS software spectrum, both current and strategic, to make sure the HR team could deliver on the agreed business plan.

• -A specialist UK insurer providing tailored insurance products.
• -Significant projected growth.
• -The existing ERP was not used effectively.
• -Manual processes were run in Excel.
• -The same data was held in multiple places with different values.

The PIC implementation was complex, with its own set of challenges:

• -Integration with multiple source systems.
• -Simultaneous compliance with IFRS 4, IFRS 17, and Solvency II.
• -Development of more than 250 reports and dashboards.
• -Development of enquiry pages to query archived data.

PIC required support and enhancements across all the modules in scope. Our consultants supported both production and non-production environments and delivered enhancements as part of our BAU service. Support activities include:

• -8x5 support coverage from the UK and offshore.
• -On-call support (24x7) for critical issues.
• -Automated quarterly patch testing.

• -HR processes became consistent and effective.
• -Onboarding and offboarding processes were simplified.
• -HR policies such as maternity, grievances, and sick pay were implemented in Oracle Cloud HCM.
• -Payroll calculations became accurate.
• -Employee engagement improved through talent management and goal management.
• -Self-service reporting capabilities were enabled for business users.
• -One agreed source of data across Finance and HR.
• -Reporting was delivered to measure KPIs.
• -Stable integrations were maintained between Oracle Financials Cloud, Oracle Cloud HCM, and Oracle Planning and Budgeting Cloud.
• -A reduction in support tickets, resulting from regular root cause analysis of all tickets.
• -A significant reduction in manual processes, resulting from proactive enhancements delivered by our BAU team.
• -Improved SLAs, achieved by applying permanent fixes to recurring issues.
• -HR operations were kept aligned to HR policies, with training delivered to divisions within PIC for new processes and self-service reporting.

Issues and problems that were encountered and overcome through collaboration during the project.

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