Time Trax Case Study Barclasys


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Time Trax Case Study Barclasys

  1. 1. EfroTechwww.efrotech.com Barclays Bank UAE opts for ePayroll of TimeTraxwww.TimeTrax.com.pk
  2. 2. Barclays is a major global financial services provider engaged in retail banking, credit cards,corporate banking, investment banking, wealth management and investment managementservices with an extensive international presence in Europe, the Americas, Africa and Asia.With over 300 years of history and expertise in banking, Barclays operates in over 50countries and employs nearly 147,000 people. Barclays moves, lends, invests and protectsmoney for more than 48 million customers and clients worldwide including UAE. Barclays BankChallenges & Issues UAE opts for ePayroll ofBarclays Bank has a reputation of being in the forefront of technology. The payroll TimeTraxdepartment was the only one lacking in advanced technology. Prior to implementing theTimeTrax’s epayroll solution, the bank was running an outdated, rigid and inflexible payrollsoftware which was unable to keep it pace up with the growing staff and neither it wasgiving any technological edge, on top of them it was consuming lot of resources when endof month comes, there were more inaccuracies and additional costs associated too in thatcircumstance completing payroll in a timely manner was one of many challenges.Many times mistakes were found and Payroll clerks had to spend hours and days completingthe Process by re-keying, like every other banks Barclays bank UAE have got many employeeson a different jobs and each position has a different pay rate, department & pay rules, with Integratedthe latest payroll tax compliance issues and regulations. All of these factors caused complexes;probability of errors in employee paychecks was also on higher side, since there were more Attendance,factors involved such as overtime pay, various pay rates, etc. Payroll, LeaveIn addition to the long, tedious process, that made it difficult to provide an easily accessible &and accurate audit trail. These issues were a growing burden on the payroll and IT Traveldepartments. ManagementSelecting TimeTraxBarclays Bank UAE knew which high-level attributes they were looking for in a new epayrollsystem. Their list included things like the system being user friendly, web-based, supportsfor a SQL database and LDAP security. It also had to provide a self-service interface thatemployees could use to review Payslip, Loan deduction, and other personal data. BarclaysBank UAE also wanted a system that its technical staff could easily configure and supportwhile accommodating the payroll requirements for its multiple departments. 02 EfroTech www.efrotech.com Barclays Bank UAE opts for ePayroll of TimeTrax
  3. 3. They formed a committee composed of representatives from key departments, includingpayroll, technology, and human resources. Next, the committee created a list of requirementsand a request for proposal, which they sent to several software vendors. Several vendorsresponded including TimeTrax and then, after a thorough review of the responses, thecommittee narrowed the list to three vendors, TimeTrax was one of them. After seeingTimeTrax’s software demonstrations and a thorough evaluation of ePayroll’s functionality,after months of deliberation, the final selection was based as much on the compatibility Barclays Bankof the vendor’s business values, the TimeTrax demo was a huge selling point for them; UAE opts forthey found TimeTrax very professional and extremely easy to use. TimeTrax satisfied the ePayroll offunctionalities and depth needs of their seasoned IT & HR departments. TimeTraxAutomation increases check accuracy and decreases an employer’s headaches. TimeTraxprovided Barclays Bank UAE with a system that would streamline their processes, boostsefficiency and concentrates on workforce management for every location into a singlesystem.ImplementationTimeTrax provided expertise on product features, labor law compliance and best practices,offering a sophisticated solution with the ability to meet the Complicated demands present Integratedin Barclays Bank. TimeTrax supported the ability to configure and automate complexbusiness policies that required manual calculations or custom programming in other systems. Attendance,TimeTrax implementation methodology was good and team of TimeTrax accomplished Payroll,their goals, they understood a new system was going to require a change in the way everyone Leaveworked, so they designed a plan that eased each department into the implementation. & TravelDuring the kick-off meeting, they discussed the implementation process, the implementation Managementplan, and the expectations of both TimeTrax team and Barclays Bank. Key members ofBarclays project team were in constant communication to keep everyone up-to-date on theprogress, enthusiastic and involved. It was a straightforward process to implement a systemthat was going to cut labor costs and increase productivity throughout the Barclays Bank.Testing & RolloutPrior to rolling out the system to all employees, few tests were conducted to ensurecalculations were accurate and response times were adequate. Any change that was necessary 03 EfroTech www.efrotech.com Barclays Bank UAE opts for ePayroll of TimeTrax
  4. 4. forwarded to the TimeTrax team. The Barclays Bank selected employees from each policygroup and ran several parallel payroll processes. An in-house training included at BarclaysBank for users.ResultsBecause Barclays Bank replaced an old system with an automated robust system, the Barclays Bankorganization was curious to see a return on their investment almost immediately withTimeTrax. The biggest savings resulted from automating the collection of employee hours, UAE opts forcalculation of time data, and processing of reports. The process that used to take a week, ePayroll ofnow takes place instantly. The information is available in real-time and easily accessible by TimeTraxthe payroll department. Barclays Bank has received a number of benefits like: » Easier to manage updates » Reduces data redundancy » No software installed on users / clients machines » All members of organization can log in the system; be it top management or middle management, HR head or HR assistant and all employees » Generate all reports from anywhere in the world, all reports would be just a click away Integrated Attendance,Since the implementation of the system, including eliminating redundant data entry, reducing Payroll,payroll processing times, less errors and balanced timesheets. Employees also have access Leaveto real-time information to plan time-off without having to contact the payroll department. &The detailed and accurate information provides the Barclays Bank with real-time information Travelon operating costs to make better decisions. ManagementTo learn more about features and advantages of TimeTrax’ ePayroll please log on tohttp://www.timetrax.com.pk/epayroll-12-1.aspx 04 EfroTech www.efrotech.com Barclays Bank UAE opts for ePayroll of TimeTrax
  5. 5. TimeTrax OverviewServing over 500 satisfied clients with this robust Human Resource Management system acrossPakistan in 27 cities and deployed in 17 countries across the globe; including UAE, South Africa,Korea & Brazil, with embedded payroll logic for various industries, TimeTrax is the ultimate softwaresolution for Integrated Attendance, Payroll, Leave & Travel Management. We are proudly assistingcompanies in building transparency into employee productivity for the last 14 yearsContact Us Barclays BankHead Office UAE opts forAddress Suite # 301, Progressive Center, PECHS, Shara-e-Faisal, Karachi.Phone +92-21-34389620-2 ePayroll of +92-21-32043020-1 TimeTraxFax +92-21-34389623Email info@efrotech.comLahore OfficeAddress 523-A, Faisal Town, Opp. Jinnah Hospital, Lahore.Phone +92-42-36115220Fax +92-21-34389623, +92-42-35164696Email lhr@efrotech.com Integrated Attendance, Payroll, Leave & Travel Management 05 EfroTech www.efrotech.com Barclays Bank UAE opts for ePayroll of TimeTrax