Logica, a leading IT and business services company, today announced it has been appointed by the Bank of England to participate in the on-going development of its HR services following a competitive tender process.
The five year HR services contract will see Logica work with the Bank to help drive continuous improvement in the delivery of HR services for its 1,750 employees and 7,000 pensioners.
Logica will supply its innovative Oracle HCM pay as you go offering performance management, recruitment, time & attendance, flexible benefits and self-service, HR analytics and a bureau payroll service. The service will be delivered using its fully managed software service.
Logica's services will bring greater automation and standardisation to improve efficiency and cost effectiveness as well as a better supporting platform to deliver improved employee services.
The implementation will be phased with the service scheduled to go live in 2010. The benefits of the Oracle HCM system to companies include:
- Cost savings and rapid return on investment
- Robust and secure software administration and infrastructure delivered as a per employee per month service
- Increased efficiency in HR Services
- Better management of interviews through i-Recuitment
- Reduced duplication of effort and less manual intervention
- Shared service centre staff focusing less on administration and more on value-added activities
- More accurate reporting aiding better employee information and predictive reporting
"We are delighted to have been chosen to help the Bank of England with its on-going development in HR services. We were keen to demonstrate our flexibility by proposing a solution that would meet long-term, business requirements with flexible system and service options" said Patricia Taylor, UK Director of BPO, Logica.