Business Need
A major financial institution with a payroll service bureau operation was
concerned their current payroll system would not support their business growth goals.
The existing system required a single instance per client, consolidated reporting
was difficult to provide and general payroll operations were labor intensive due
to sheer volume. Our client had researched the options available with the existing
vendor and determined the need to pursue alternatives which would provide a robust,
enterprise payroll solution. The replacement process was based on the financial
institutions requirements in the following areas:
- Clearly defined functional and technical
requirements to support service bureau operations
- Potential solution offerings must be business
compatible with existing technology
- Improves overall operating efficiencies
resulting in better profit margins
- Time-to-market was critical to remain competitive
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Approach
The financial institution engaged America OnShore (AOS) for their technical
expertise and extensive experience in payroll, service bureau operations and program
management. AOS lead the effort to define key requirements from a feature/functionality,
serviceability, usability, production and enterprise architecture. Based on the
requirements, AOS performed market research to determine a list of leading contenders
offering payroll processing software solutions. Phone interviews and/or on-site
visits were conducted to assess how well each candidate's capabilities measured
up against the financial institutions functional and technical requirements. AOS
also performed technical due diligence including code audit, performance and stress
testing, to name a few. A detailed scorecard was created for each vendor and used
by AOS when preparing its recommendation. |
Result
AOS produced a comprehensive Findings and Recommendations Report that included
critical facts about each replacement option and presented a short list of viable
candidates to select from along with next steps. The financial institution was able
to proceed with a purchase decision based on the work AOS completed for them. By
working in partnership with AOS, the project was completed 50% faster and for less
money than if they had worked independently. |
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