Client’s Challenge
The client needed a custom application under a short timeline that improved functionality of key HR functions, impacting over 20,000 employees.
Case Studies
Application Development for Financial Services Organization
Our Solution
The InfoWorks team quickly determined functional business requirements and strategically created a technical solution. An application was rapidly developed to manage key financial functions for the corporation as well as reports required for employee loan and termination processes.
Value Realized
The application significantly reduced man-hours required by performing the following operations:
- Calculating, tracking, and recouping outstanding loan amounts from terminated employees
- Performing the interest accruals and general ledger postings for approximately 24,000 separate advisor loans on a bi-monthly basis
Competencies Utilized
- Requirements analysis
- Custom application development
- Solution architecture and design
- Test planning
- Coordination of user acceptance testing
Project Details
Our client was faced with strict time constraints while rebuilding the financial advisors loan and awards programs. This placed the company at risk of not meeting compliance standards.
InfoWorks was engaged to conduct process reviews and recommendations, outline risks and costs associated for each recommendation, present alternatives to leadership, and build a custom application for this critical functionality that impacted over 20,000 employees.
The InfoWorks team developed a custom application that calculates, tracks, and recoups outstanding loan amounts of terminated employees. The application also performs the interest accruals and general ledger postings for around 24,000 separate advisor loans on a bi-monthly basis.
The end result was a reduction in manual hours required to perform calculations and maintain ledgers, and compliance standards were met.
