Visionet Systems, Inc. implemented its Human Capital Management solution, VisiHCM at a leading bank that automated their entire Human Resource system, payroll processes and provided integration with the back-end systems enabling them to achieve excellence in the quality of HR operations and services to its employees, and increasing productivity and employee retention.
It is the fastest growing Bank in Asia, which pursues an ambition of reaching new heights and achieving distinction in Banking by becoming a symbol of prosperity, progress and success. As a growing bank, it has over 50 branches nationwide scattered in various regions and cities in Asia.
The bank had been using an obsolete technology that lacked adaptability and customization with their growing business requirements. Moreover, it failed to integrate with their core back end systems, and its inability to being scalable made the bank confront issues with regard to inefficient performance outputs. These issues rose further to hampering module enhancement initiatives and the likes.
The prime focus of the bank was to have a centralized application to automate and stream-line their entire Human Resource functions including Core HR and Payroll processes. They required a comprehensive HCM solution that can be integrated to their core back-end systems.
Visionet Systems proposed the implementation of VisiHCM an end-to-end integrated Human Capital Management Solution at the bank and was able to implement the complete suite within six months.
The project included implementation of the following modules:
- Employee Management (Core HR)
- Payroll Management
- Recruitment Management
- Appraisal Management
- Employee Self-Service Portal
- Expense Management
- Training Management
- Attendance and Leave Management
The proposed solution covers the entire life cycle of an employee within an organization – from recruitment to retirement. The product is designed on a role based security model and the modular architecture of the solution makes it simple and flexible to add modules to the core application as the organization grows. VisiHCM comes with unlimited licenses bundled in the solution making it highly cost effective for any size of the businesses.
The proposed solution allowed the bank’s Human Resources personnel to effectively manage the human capital pool available within the enterprise by efifciently maintaining employee personal information, salary process-ing and other key information. VisiHCM covered the entire life cycle of an employee within an organization.
The solution also provided them with a compre-hensive MIS reporting mechanism by providing a wide range of detailed and summarized scanned reports to both management and functional users so that they can track and monitor at all levels. The vision to establish a highly integrat-ed solution, from where both end-users and executives would be able to access the latest updates and authentic information in timely manner was most appropriately realized with the implementation of VisiHCM.
On an organizational level, the implementation assisted the bank with the achievement of excellence in HR processes thus increasing productivity and employee retention. Other beneifts include:
- Quicker On-Boarding – VisiHCM streamlined all the processes at the bank while standardizing letters and forms that enabled their HR depart-ment to get a new employee on board faster.
- Development of Skills & Expertise – With VisiHCM the bank can now track their employee’s skills and expertise and develop each individual’s learning and career paths.
- Easier Appraisals – The solution simpliifed the appraisal processes at the bank by presenting all the pertinent information such as employee’s KPIs, goals and trainings on a single screen.
- Complete Employee Life-cycle Management allowed the bank to plan everything for an employee from recruitment to retirement.
- Employee Self Service – The self-service mechanism of VisiHCM allowing employees at the bank to see their personal information such as salary slips, leaves and performance review information online.
- Comprehensive and easy-to-use Payroll – The efifcient Payroll module of VisiHCM allowed the payroll functional users of the bank to track and record monthly transactions and adjustments of Employees pay related activities including leaves and attendance.
- Streamlined processes from recruitment to retirement.
- Enabled tracking of employee development and career paths.
- Simpliifed decision making in appraisal processes promoting transparency.
- Increased productivity and employee retention..