Read our case studies to find out more about how hyphen can help your business grow.
|
Barclays Bank
Barclays is a UK-based financial services group, with a large international presence in Europe, the USA, Africa and Asia. It is engaged primarily in banking, investment banking and investment management. Barclays is one of the largest financial services companies in the world.
hyphen, and its parent company Spring, has been a supplier to Barclays Bank since 1989. In 1999, seeking to align its supply chain capability with a requirement to boost delivery capacity, obtain cost reductions, and gain greater control and efficiencies in the sourcing of contract IT staff, Barclays sought to identify and deploy a market-leading recruitment solution.
hyphen proposed a three-pronged solution to meet Barclays’ business objectives:
- An onsite Managed Service Programme that would take control of all relevant IT contractor sourcing processes, providing a greater level of support and impartial advice to hiring managers, and delivering improvements to a number of key processes.
- Deployment of a leading eRecruitment application to provide a standardised recruitment process, vacancy tracking, progress updates and significant improvements in management information. The use of electronic timesheets would also result in significant reductions in administrative overheads.
- Appointment of hy-phen as Master Vendor to improve existing recruiting timescales and response times and significantly reduce the overheads associated with the recruitment process whilst assuring 100% supply.
The key benefits delivered to Barclays Bank by this solution have included:
- Significant cost savings: since implementation the solution has delivered savings in excess of £15m through more effective use of IT contract staff, enforcing compliance with preferred commercial terms and through the active management of pay rates.
- Reduction in administrative overheads: Barclays has seen a dramatic reduction in overheads associated with the management and administration of its IT contractor population. Improved timesheet and invoicing process, together with back-office efficiencies have been valued at £0.5m per annum.
- Quality and assurance of supply: the hy-phen solution continues to meet 100% of the requirements for IT contracting staff. The on-site team works pro-actively to develop a greater understanding of the needs of hiring managers and through continuous reviews of candidate sourcing techniques and the development of ‘hotlists’ for key skills, continues to provide total assurance of supply.
- Improved management information: enabling hy-phen and Barclays to monitor the performance of the recruitment solution, and compliance with agreed processes and regulatory requirement on an ongoing basis.
Barclays and hyphen continue to work together to identify and implement further changes and improvements to ensure that the solution remains effective in long-term and evolving business requirements. These have included increases in scope to ensure that the benefits outlined above are delivered to more parts of the Bank. We have also deployed ‘selfbill’ functionality to fully integrate the eRecruitment application with the Bank’s Oracle e-Source procurement application and its SAP payments system. This offers fully automated, paperless, purchase-to-pay capabilities for the procurement of all IT contractors.
|
