The Bank is one of the largest co-operative banks in Maharashtra, India. This 75 year old bank, has multiple branches across the state, and required a core HR solution, that could cater to its unique HR requirement. The Bank was using multiple stand- alone systems for their Payroll and Employee Lifecycle activities, since a decade. Given the multiple systems and the hassles in managing data, they approached Workrig for an On-Premise/ Cloud based HCM solution.
BFSI, as an industry has multiple pay heads, they generally are allowances and benefits, other than standard structure. At the same time, being old-school most old Banks use the scale-based salary system’s while utilizing the Auto Increment Fitment process. The process utilizes standard scales with annual increments, while the grade remains unchanged, unless a grade change is administered, for an employee.
From Onboarding to Offboarding
Payroll and Compliance
Time, Attendance & Leave Management
Expense and Claims Management
Further, the challenge with the Bank is to manage with some typicality’s in pay structure, which even fixed required some calculations. This other than handling auto scaling based increments, banks required managing lifecycle activities, such as transfers- departmental, grade & level based which had to be taken up separately, they looked for a solution that could battle time and ease processing. To be noted that the processing took almost 10 working days, due to which processing of any nature was handled with some historical data. Collecting attendance data was another challenge. Various branches had to assign a resource to manage the task of collecting data from hardware’s, and registers, which was shared with the head office for processing. This meant a significantly larger team and tedious processing effort, that meant more time to process payroll. This lead them to look for a more seamless process that could handle data integrations and fast processing.Need for the best solutionSOLUTION
Workrig, which is built with integration services along with the ability to process large data on cloud allowed the Bank to overcome their challenges reducing preparation and processing time to 30% of the original time, other than providing a host of life-cycle management solutions in the cloud-based software. Workrig, also allowed the bank to process and manage lifecycle activity and documents related to these activities, other than storing employee related data. All data related challenges were overcome, while completely streamlining the core HR and the Payroll processes. A fully integrated statutory compliance module fulfilled the rest. Reducing time and effort significantly, Workrig is gearing up to implement other modules at the Bank. Even though the integrated system was finally hosted in the client’s On-Premise server, the future possibilities of moving the same instance to a Cloud based server always remains open.
Reduction in Processing Time
Accuracy with real data rather than relative data
Using an algorithm driven software, dramatically reduced their time consumed in processing time and payroll. Employee Lifecycle, is now managed seamlessly, with data being recorded in the system, and therefore allowing to fulfill a paperless division. Integrated Time management helped reduce manual work, of updating time data into the system. Overall, a fully integrated HR solution, one which has every specific of the Urban Co-operative Bank requirements.