Enterprise networking major Oracle today revealed details of how MoneyGram International and Grant Thornton are gaining from its cloud technology.
MoneyGram International, a money transfer company with $1.45 billion revenue, has deployed Oracle HCM Cloud to rejig its human resources (HR) operations and reduce administrative processes.
As a result of the investment in Oracle Cloud technology, MoneyGram has achieved 40 percent reduction in time needed for introducing new products.
MoneyGram can now produce reports in 80 percent less time thanks to its investment in Oracle Cloud technology. Previously, MoneyGram took 40 hours for the same process. Oracle did not reveal the name of the existing cloud partner of MoneyGram. The earlier system required many spreadsheets, and manual processes that were complex and did not scale.
MoneyGram, which has nearly 3,000 employees, serving more than 350,000 agent locations in more than 200 counties, faced difficulties in generating reports or analyze market opportunities due to lack of a central global data storehouse for employee records and business information.
The Oracle implementation changed 25 percent of MoneyGram’s transactional infrastructure. MoneyGram is using Global HR, Payroll (U.S.), Workforce Compensation, Goal and Performance Management, Talent Review and Succession, and Recruiting and Onboarding.
“Oracle HCM Cloud consolidated our payroll processes and helped us accommodate country-specific issues from a core HR standpoint. It assisted with security requirements from information to data privacy. It also increased efficiency and control and helped improve our process cycle times,” said Paula Peacher, senior director of Global Payroll and HRIS at MoneyGram.
The Oracle platform is delivering important time-saving benefits in the first year of implementation. Other benefits include savings in cost and the consolidation of multiple outdated and non-integrated legacy systems. MoneyGram executives estimate that the company has the potential to save millions of dollars by retiring outdated systems and transitioning to Oracle HCM Cloud.
Grant Thornton, an accounting and consulting firm, deployed an analytics solution on Oracle Public Cloud and benefitted from increased its data confidence and reduced data bottlenecks.
“Oracle Cloud maximized value and accelerated adoption through the Oracle Accelerated Buying Experience, which enabled Grant Thornton to procure the Cloud services quickly and easily – keeping the firm on track to meet its aggressive deployment timeline,” said Pamela Harless, chief people and culture officer at Grant Thornton.
Grant Thornton and Oracle may continue their relationship by jointly bringing similar workforce-analytics and big-data offerings to the marketplace.