Driving Digital Transformation: Optimizing HR and Finance Integration for a Leading Credit Union Bank
Introduction
In this case study, we explore how TGH, a trusted IT integration consultancy, helped a leading Credit Union Bank with assets worth $1.5 billion to enhance their operational efficiency and collaboration. With a wide range of financial products and services, the bank serves more than 2.6 million members and employs over 2000 professionals. The bank’s internal systems were already digitally enabled and accessible, but they faced challenges in integrating their financial application with the Human Resources Management System (HRMS).
Problem Definition
The client sought a robust IT infrastructure to streamline their banking operations and cater to the needs of their vast membership and employees. Specifically, they aimed to integrate their financial application with the HRMS, automate processes from hiring to settlement, convert data into a manageable format, and implement over 60 API-based integrations to establish a robust system.
Business Goals
The Credit Union Bank had the following key business goals:
· Integration of Financial Application with HRMS: The bank needed to seamlessly integrate their financial application with the HRMS system to ensure smooth data flow and optimize operational efficiency.
· Streamline Hiring and Settlement Processes: The client sought to develop strategies for efficient data flow from the HRMS (Workday) system to Coupa, automating processes related to hiring and monthly settlements.
· Data Management and Conversion: The bank aimed to convert data into a manageable and desired format, facilitating efficient analysis and decision-making.
· Robust Integration Requirements: To enhance their system capabilities, the client required over 60 API-based integrations to establish a robust infrastructure.
Solution and Business Benefits
TGH implemented the following solutions to address the client’s challenges and achieve their business goals:
· HRMS Template Optimization: TGH developed HRMS templates to standardize and optimize processes such as hiring, employee dissolution, organization hierarchy chart, workday management, and payment proceedings. These templates streamlined HR operations and enhanced data management.
· Data Integration through Boomi: TGH utilized the powerful Boomi integration platform to offer data integration services, enabling seamless connectivity across various applications and systems in any cloud environment. This integration ensured efficient data exchange and synchronization.
· Complete Integration of Workday and Coupa: TGH successfully integrated the client’s Workday (HRMS) system with Coupa (Business Spend Management), enabling effective management of employee data, member transactions, and real-time decision-making through intuitive dashboards.
Advantage through this Integration
By leveraging Coupa’s cloud software and the Boomi integration platform, the Credit Union Bank achieved the following advantages:
· Enhanced Data Management: The integration streamlined the bank’s Workday database, ensuring data synchronization with the finance module (Coupa). This enhanced data management capabilities and facilitated more accurate reporting and analysis.
· Improved Collaboration: Coupa’s intuitive dashboards provided quick access to employee data, member transactions, and finance-related information. This improved collaboration between different departments and empowered real-time decision-making.
Technology Stack
Integration Tool: Boomi
Touch Points: Oracle Database, Basware, Baseplan, Mail
Through TGH’s expertise and the power of the Boomi integration platform, the Credit Union Bank successfully streamlined their HR and finance integration, leading to improved efficiency, collaboration, and data management. The seamless integration between Workday and Coupa empowered the bank to provide enhanced services to their members and employees, while enabling real-time decision-making and optimizing operational processes.