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Oracle Customer Success — Swedbank AB

Swedbank AB

Swedbank Streamlines Human Resources Processes with Cloud Solution, Reducing Costs by 50% While Expanding Functionality

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The major benefits of Oracle Human Capital Management Cloud include 50% cost reductions, substantial time savings, and expanded and more robust functionality.

— Jonas Gavelin, Head of Human Resources Information Systems, Group Human Resources, Swedbank AB

Swedbank AB (Swedbank) is a Swedish banking group with operations in the Nordic and Baltic countries. The bank's roots in Sweden’s savings-bank history go back to 1820. Swedbank has 7.2 million retail customers and more than 600,000 corporate and institutional customers, making it Sweden's largest bank in terms of number of customers.

50% cost reduction
for the HR environment with Oracle HCM Cloud
 
Challenges
  • Digitize and automate the bank’s human resources (HR) processes, including the compensation for financial services professionals, to save resources and free time for managers, HR professionals, and employees to focus on streamlining the bank's core business
  • Reduce Swedbank’s HR IT system costs
  • Save time and ensure data quality by selecting a solution where all HR tools and processes are integrated
  • Introduce an analysis and reporting system that generates better decision support than before, for example, being able to make better hiring decisions for financial services professionals
  • Lay a stable foundation for further development of the bank’s HR environment, such as introducing functionality for recruitment and learning
     
Results
  • Implemented Oracle Human Capital Management Cloud (Oracle HCM Cloud) and reduced costs for the HR environment by 50% (in comparison with the bank's on-premises HR solution)—as the bank does not need to own hardware and allocate staff for IT management
  • Digitized and automated the bank's HR processes—such as compensation, talent, performance, and goal management processes—and saved significant time and resources
  • Cut the resources needed to manage the compensation process from eight full-time employees to two-and-a-half full-time positions
  • Saved time and ensured data quality as all HR tools and legacy system are integrated, including a Swedish payroll system and systems for time reporting and travel expenses
  • Saved additional time for managers, HR professionals, and employees with new, solution-enabled procedures—for example at performance reviews with managers, the employees have already input their goals and activities in the system—using the time saved to streamline the bank's core business, such as financing, pension and insurance, and enterprise holdings
  • Improved decisions—for example, better hiring decisions for financial services professionals—with Oracle HCM Cloud’s analysis and reporting capabilities, which enable Swedbank to identify trends regarding sick leave, overtime, compensation, and more
  • Created a stable foundation for further development of the HR environment with a cloud solution that delivers automatic upgrades twice a year and enables Swedbank to easily add additional HR modules, such as recruitment and learning

 

We considered three vendors: Oracle, Workday, and Bluegarden. Oracle simply had the best solution, especially for compensation management. In addition, we have had success with Oracle solutions in the past.

— Jonas Gavelin, Head of Human Resources Information Systems, Group Human Resources, Swedbank AB

About Swedbank AB

Headquarters

 
Stockholm, Sweden

Employees

 
13,500

Annual Revenue

 
US$1 to US$5 Billion
Published:  Sep 15, 2016