UBS has selected cloud-based Oracle Fusion Human Capital Management (HCM) to help securely provide the information and tools needed by its Human Resources functions for its workforce of 65,000 across more than 50 countries.
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. The firm combines its wealth management, investment banking and asset management businesses with its Swiss operations to deliver superior financial solutions.
UBS chose Oracle Fusion HCM after a review of HCM Software-as-a-Service (SaaS) vendors on the market and determined that Oracle Fusion HCM was a strong fit due to its functionality and secure delivery. For a global financial services institution, such as UBS, data security is of critical importance.
In addition, UBS expects to take advantage of future enhancements to Oracle Fusion HCM, which is designed to deliver ongoing value to HR, managers and employees without lengthy upgrade cycles.
UBS is planning to deploy a number of Oracle Fusion HCM modules, including Global HR, Business Intelligence, Performance Management, Talent Management and others.
"With a global workforce of about 65,000 across more than 50 countries, UBS needs an HCM solution that works globally and can help transform the way our HR organization delivers services," said John Bradley, Global Head of HR, UBS. "We believe that Oracle Fusion HCM will significantly increase our HR core platform capability."
"As a significant Oracle customer for many years, including the long-term use of Oracle's PeopleSoft as our core HCM platform, we were looking for a next generation business-enabling solution that allows us to maintain our security and data protection, whilst reducing total cost of ownership," said Michele Trogni, Group CIO, UBS. "We regard Oracle Cloud HCM Services as a good fit with our own technology strategy."