Euroclear presentation

Report
Lessons Learnt from Fusion Implementation at
Euroclear
HCM SIG March 2014
Rossi Dzhedzheva: Fusion HCM consultant
([email protected])
Gregory Deruelle: Head of Corporate Support Roadmap
([email protected])
Agenda
•Euroclear Presentation
•Implementation objectives
•Implementation strategy
•Challenges
•Lessons learnt
•Q&A
EUROCLEAR PRESENTATION
Euroclear is…
A post-trade financial market infrastructure which is user
owned and user governed
The Euroclear Group is the national Central Securities Depositories (CSDs)
for Belgium, Finland, France, Ireland, the Netherlands, Sweden and the
United Kingdom serving local clients for local transactions
Euroclear bank is the leading International Central Securities Depository
(ICSD) covering more than 1,000,000 securities, with access to domestic
securities from over 40 markets and settlements in 53 currencies worldwide
Our Clients
Facts & Figures
All major financial institutions in
more than 90 countries and
millions of retail investors. Global
and local custodians, broker
dealers,
central
banks,
commercial
and
investment
banks,
investment
managers,
supranational organisations and a
wide range of issuers.
• Over €540 trillion of transaction
settled yearly
• €23 trillion of assets held in
custody
• €700
billion
mobilised daily
of
collateral
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Our organisation
Worldwide footprint, but Europe centric
• Headquarters based in Belgium
• 7 main countries and 8 representative/branch offices
• 3600 employees (4700 incl. contingent workers/vendors)
5
IMPLEMENTATION OBJECTIVES
The context at Euroclear
For the past two years Euroclear has been undergoing a
major HR transformation
• The aim of the transformation is to deliver a stronger HR division in support
of the business:
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Implementation objectives
Euroclear chose to implement Oracle HCM Cloud as one
of the main pillars of its transformation
• Reduce costs of maintaining current PeopleSoft solution which is heavily
customized and internally hosted
• Have a truly global & integrated approach to Performance and Talent
management
• Have a single source of truth for all employee data enabling global
reporting and real BI trend analysis
• Decommission multiple disconnected and isolated HR databases which
led to time consuming administrative and paper-based processes
Core HR
Learning
Compensation/Benefits
Time
Internal tool
Talent
Recruitment
Payroll
Case Management
Internal tool
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The future landscape at Euroclear
The final objective is to move all HR applications to the
Oracle cloud platform
Core HR
Learning
Talent
Recruitment
Compensation/Benefits
Time
Payroll
Case Management
Outsourced
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IMPLEMENTATION STRATEGY
Traditional deployment strategy
Usually Global HR is implemented first, however this wasn’t
a suitable option for Euroclear
• Why this approach was not suitable for Euroclear:
► HR
management steered to deliver added-value functionalities first
► Complex
internal technical architecture (cloud integration)
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Where are we in our journey
To deliver quick wins to the business our implementation
strategy started with the most strategic modules
• Module by module implementation strategy
• Temporary “manual” coexistence model
Q2-13
Initial Design
Q3-13
Q4-13
Q1-14
Goals, Performance &
Talent Design & Delivery
Q2-14
Q4-14
Talent and
Succession
Delivery
Core HR Local Design
Taleo Learn
Q3-14
Core HR
Delivery
Compensation
and Benefits
Time tracking rollout
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■ Phase complete
Go-Live
Implementation methodology
A hybrid methodology between Waterfall and Agile
provides numerous benefits, but requires continuous
planning
Design
Plan
Build
Deliver
Operate
Iterative approach for multiple releases of each Sprint
Zoom on sprint
Confirm Design
Configure
Requirements
Sprint Review Meeting
Deploy to
Validate
Production and
configuration
Plan
• Main objectives were:
► More
controllable approach with tangible results
► Earlier
► Higher
adoption of the new tools by HR teams
adaptability to business / technical changes
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CHALLENGES
Challenges
There were numerous challenges along the way
Challenges
• Timelines expectations
Strategic
• Multiple projects
• Global vs. local design
• Change management
• Simplicity
Functional
• Customizations
• Cloud release cycle
Impact
• Timescales dependencies on numerous factors
• Project timelines and key resources involvement
• Aligning local countries to a global model can be a
challenge
• Training and change management should apply to
everyone
• Mirroring exactly what you have today creates more
complexity
• Some areas might feel like a regression
• Constant changes on project planning
• Data migration
• Reporting
Technical
• Interfacing
• Back to front
implementation
 Maturity of Fusion
• Significant impact on the intended implementation
schedule (trial and error approach)
• Unclear functionality
• Lack of skills and knowledge on the market
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LESSONS LEARNT
What about Fusion?
It’s perfect for a standalone implementation, but still needs
to improve for a corporate integrated solution
• Fusion is functionally working fine … but technically not mature
► Reporting still highly technical
► Data Migration is very complex
► Interfacing seems not straight-forward
• Oracle reactivity is good, but Support is still in learning mode
• Stability/release management is not yet at par with PeopleSoft and EBS
• Need to train your own people, given the lack of resources on the market
• The Fusion Community is key to support you
• Need strong support from Oracle management (& development)
• Can be used, without compromises, for large organisations as of R8
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Lessons learnt
Simplicity is key
• Create a global design and stick to it
• Assess local/regional requirements
• Simplify existing systems with Fusion
• Don’t try and build what you already have
• Communicate clearly the advantages that are gained
• Don’t get hung up on aesthetics
• Don’t underestimate testing
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Lessons learnt
Implementing a new system is not a stand-alone project
• Implementation plans should allow for various complexities
► Technical challenges (data migration, interfaces)
► New Releases
► Projects in parallel
• Begin the technical work as early as possible
• Design new processes with the system in mind
• Don’t underestimate change management
• The process design, change management, functional and technical
teams should work together
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Any questions?
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