National Bank of Canada Reduces HR Costs with SAP SuccessFactors Employee Central Payroll
As part of a broader journey to the cloud for HCM that includes the entire SAP SuccessFactors suite, National Bank has implemented SuccessFactors Employee Central Payroll (ECP) and WorkForce Software (WFS) for time management with the help of Rizing HCM. That project finished up earlier this year, and the overall HR technology transformation is already providing a return on investment.
Previously at National Bank, vacation time was managed manually in Excel. Now, the vacation approval process is fully automated with WFS. The new system underwent an excellent performance test on its very first day after go-live when 1500 users submitted paid time off requests. It handled it all without manual data entry.
On the time and attendance side, National Bank was using a 20-year-old system for which it no longer had the source code—meaning no changes could be implemented. Again, it was a highly manual system. Now, with ECP, the system is integrated with the SuccessFactors Employee Central core and WFS, making it much simpler to connect employee to time to paycheck.
Benefits of Payroll and Time Management Transformation
There have already been gains in efficiencies and user experience that have led to real savings to the bottom line as result of implementing SuccessFactors and WFS.
The combination of WFS and ECP helped consolidate National Bank’s technological footprint. Four different payroll instances were consolidated into one centralized system, along with the elimination of manual entry spreadsheets for time management. That makes things easier on both IT and HR, leading to better functionality and cleaner HR data down the road.
National Bank estimates that as a result of implementing the full SuccessFactors suite, automated processes are freeing up 5% of management time for managers. That’s more time to spend on building the skills and strengths of its staff and ensuring that processes are running smoothly. There’s no need for managers to field questions from employees on submitting PTO or where to find a pay stub when all of that is now self-service.
Bringing in the new software to replace the old was key to sustaining National Bank’s growth, especially in terms of HCM needs. Savings calculated across the full SuccessFactors implementation have resulted in a $4 million annual reduction in HR staffing expenses and HR operational costs.
Key Takeaways—Self-Service Means Savings
Giving employees the ability for self-service in time management and payroll has proven to be a huge saver in time and expense at National Bank by eliminating the need to manage spreadsheets for HR staff, or burden managers with HR and payroll tasks.
Going forward, IT is sure to benefit from a consolidated HR technology landscape that features a single source of truth for payroll information and time management data. National Bank and its employees will continue to see the benefits of HR transformation.