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Scene and Be Heard

Scene and Be Heard. How vanilla is my Implementation?. September 24, 2013. Presentation Team. Richard Henao, Assistant Vice President , HR Technology Wintrust Financial Corporation rhenao@wintrust.com Anton Rzhanov, Practice Manager, KBACE Technologies arzhanov@kbace.com. Agenda.

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Scene and Be Heard

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  1. Scene and Be Heard How vanilla is my Implementation? September 24, 2013

  2. Presentation Team • Richard Henao, AssistantVice President, HR Technology Wintrust FinancialCorporation • rhenao@wintrust.com • Anton Rzhanov, Practice Manager, KBACE Technologies • arzhanov@kbace.com

  3. Agenda • Introduction to Wintrust and KBACE • Deployment Options and Decision • Points to be Considered at Wintrust • Vanilla Workforce Compensation • What are Fast Formulas? • Effective Use of Fast Formulas at Wintrust • Conclusion • Q&A

  4. Who is Wintrust Financial Corporation? • Based in Rosemont, Illinois, Wintrust is the 2nd largest Commercial Bank headquartered in the Chicago area • Founded: 1991 • Assets: $17.5 billion • Employees: 3400 employees • Footprint: 15 chartered banks & 23 total subsidiaries • Locations: Provides community-oriented, personal and commercial banking services, mortgage services, and wealth management services to customers in more than 100 locations in the greater Chicago area and southeast Wisconsin

  5. Who is KBACE? Philosophy Oracle Ties People Services Experience History • Professional Services • Implementations, Upgrades, • Training, Strategy & Design • Development • Integrations, Reporting, Conversion • Technology • Single Sign-On, BI, Hosting • Managed Services • Platinum Partner • Winner of the 2013 Partner of the Year Award • Focus on Oracle HCM80% of KBACE’s Revenue • Relationship Driven • Scale Services to Meet Our Customers’ Needs • 350+ Consultants with Oracle HCM Experience • Former HR and Payroll Practitioners • Full-Time Employees, not Contractors • 50-60 Projects Each Year • 650+ Customers Across All Industries • 18 Live or Ongoing Fusion projects • Founded in 1998 by former Oracle Employees and Users • Implementing SaaS since 2009

  6. Types of Implementations • On Premise - hosted by the enterprise. • Public Cloud – For use by multiple organizations (tenants) on a shared basis and hosted over the Internet by Oracle, software as a service (SaaS), or Oracle business partners offering business process outsourcing (BPO) solutions. • Private Cloud - For exclusive use by a single organization and typically controlled, managed and hosted in private data centers. The hosting and operation of private clouds may also be outsourced to a third party service provider, but a private cloud remains for the exclusive use of one organization. • Hybrid Cloud - When a single organization adopts both private and public clouds for a single application in order to take advantage of the benefits of both.

  7. Points Considered at Wintrust • Hardware Purchases (servers) • Software Purchases (middleware, DB, etc.) • Hiring of Minimum 1/2 FTE with Oracle DB knowledge for application maintenance, patches, software customizations and integrations • Cost of Ownership Analysis – Total 5 year spend was 2x greater using On Premise model Final Decision • Public Cloud SaaSOffering

  8. Vanilla Workforce Compensation • Build a fully functioning compensation plan allowing managers to make compensation allocations for their employee population • Allow approvals based on a manager hierarchy • Top down or bottom up budgets using various HR criteria • Dynamic calculations allowing simple algebraic calculations such as proration, new salary, total compensation calculations • Employee statements (award letters) for managers to print and use as a communication tool • Eligibility criteria using various HR criteria, hire date, LOA

  9. What are Fast Formulas? • Fast formulas are a way to customize the existing functionality in Workforce Compensation. Formulas in Workforce Compensation are pieces of code which can receive information from calling program (packages), access database information and return values to the calling program. • There are a 7 formula types generally used for Compensation Compensation Start Date Compensation End Date Compensation Currency Selection Compensation Default and Override Compensation Hierarchy Determination Compensation Person Selection Participation and Rate Eligibility

  10. Effective Use of Fast Formulas at Wintrust • Formula Type – Compensation Default and Override • Description of Formula - A fast formula is required to return the 16B Officer status of an employee. This value is stored on a date-tracked extensible flexfield on the employee’s assignment. • Why do we need a formula – Data is stored in a custom field.

  11. Effective Use of Fast Formulas at Wintrust • Formula Type – Compensation Default and Override • Description of Formula - A fast formula is required to return the worker category of an employee. This value is stored on a datetracked worker category field on the employee’s assignment. This field will be used within the salary and bonus allocation worksheets. • Why do we need a formula – Data is stored in a field not seeded in Workforce.

  12. Effective Use of Fast Formulas at Wintrust • Formula Type – Participation and Rate Eligibility • Description of Formula - A fast formula is required to evaluate the eligibility of an employee for the STI component. Each compensation year, an employee is either eligible for a short term incentive (STI) award or a discretionary bonus amount. • Why do we need a formula – Data is stored in a custom field.

  13. Effective Use of Fast Formulas at Wintrust • Formula Type – Compensation Default and Override • Description of Formula - A fast formula is required to return the actual STI target result calculation for an employee. This value is calculated based on datetracked extensible flexfields on the employee’s assignment and user-defined tables. This field will be used within the STI worksheets to provide manager with a target STI value. • Why do we need a formula – The calculation to determine the STI bonus must search multiple tables with financial results to calculate the final payment. This calculation is too complex to dynamically calculate.

  14. Other Examples of Fast Formulas • Alternate Approval Hierarchy – When not using a manager hierarchy, a compensation time may want to build a fast formula to use alternate logic • Require More Information for the Employee Statement – The seeded employee statement includes fields that can be mapped and displayed. If additional fields are required, a fast formula can be used to attain these • Post Multiple Effective Salary/Bonus Payments – Payment dates can vary within a company based on payroll processing and country regulations. A fast formula can be used to define an employee ‘set’ to process on different dates • Budgeting – Systematically create a bottom-up budget using HR criteria (ie country) to define and distribute a budget across a company

  15. Conclusion • Workforce Compensation is a tool for managers and administrators to drive annual and off-cycle compensation for employees. • The product is one of the most popular and mature out of the Fusion suite due to the vast availability of vanilla features. • Fast formulas can be used to fill most gaps within the tool even within a Saas deployment option. Fast formulas Deployment Options Vanilla Options

  16. Questions Contact: Anton Rzhanov Practice Manager 617.640.1748 arzhanov@kbace.com

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