Here’s how BGC Partners transformed HRIS and 22 payrolls in just four months with 99.82% accuracy
BGC provides a wide range of services, including trade execution and broker-dealer services, to a broad range of financial and non-financial institutions. It also offers financial technology solutions, market data, and analytics through its brands, Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data.
At certain stages where BGC required manual intervention to update various pay, the system did not support retroactive changes; any change that happened in the past required manual calculations. Hence, their payroll used more than 50 offline calculations. The limited functionalities also hindered the legacy systems. The system was destabilized, and reports took hours to run.
Why BGC Partners chose Oracle HCM
Best of all, the project was delivered by PCL within the stipulated budget. Also, it was delivered in a record time of 4 months to achieve payroll go live by April, the new UK fiscal year start. In addition, PCL offered additional Payroll support and continuous training to the end users, ensuring better adoption and a smooth experience. It ensured all employees were paid on time and HMRC files were submitted per government regulations.
BGC Partners overcame payroll issues with an integrated, end-to-end Oracle Cloud HCM resulting in significant time savings, allowing focus on strategic initiatives.
The Riverside Group is one of the UK’s leading registered social housing providers, with over 3500 employees and over 75,000 homes