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Case Study of Implementing Contingent Workforce Management Platform in a Private Bank

Reboot the Reputation with a Contingent Workforce Management Platform

The VMS Partnership with a Bank

Client Details

  • Industry: Banking Industry
  • Company Size: 233,940+ Employees
  • Geography: North Carolina, USA
  • Founded in: 1998
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THE PROBLEM STATEMENT

This banking firm was kickstarted in 1998. The vendor management system was integrated in the early days of the year 2000. When the organization reached out to us, it had around 57,000 employees worldwide, and post-utilization of the VMS portal, this US-based company has a whopping number of 230,000+ employees globally.

To reach such a significant expansion, the bank faced a handful number of obstacles, primary being vendor management, and rapport building. This southeastern-US client was clear about their experience on other issues such as pre-recruitment assessments, budgeting, team member experience-engagement, timesheet management, KPI tracker, and meeting scheduler. Our client had already tested multiple applications but could not get satisfactory results. They wanted software that was smooth and easy to operate. It was also crucial that the software had a few tools to resolve their hardships. Luckily our software solution has all kinds of tools our client needs, and it could settle their issues in a matter of minutes.

We concluded that we would iron out the following hindrances:

  • Mismanagement of vendors
  • Reputation Damage
  • Lack of assessments for candidates
  • Expenses
  • Poor team member experience and engagement
  • Employee timesheet & KPI tracker
  • Missed meeting updates

"FlentisPRO comes with nine technology modules. It's a plug and play experience that allows you to customize the VMS product as per your organization's requirement."

THE SOLUTION

The US-based company had to get its reputation back on track. And this mission could be successful only when the other issues were being resolved simultaneously. Therefore, we started with the second biggest obstacle, vendor mismanagement to proper administration.

We guided our client around the candidate pool and updated the list with their existing candidates. These candidates were segregated into different categories, such as hobbies, interests, and skills, to name a few. One could search for candidates by mentioning the keyword in the search bar. Searching candidates via skills or interests give a deeper insight into them. With this tool, all the candidates' information and data were in one place. Followed by this, we showed another tool – Application Tracking System and Learning Management System.

The Application Tracking System assists in targeting keyword-based resumes. In order to pass the ATS, a candidate's details should have been on an ATS-friendly CV. This tool is also used to take assessments and different kinds of aptitude tests. It assists in judging a potential candidate for onboarding. The Learning Management Tool allows you to provide assessments tests, aptitude tests, training sessions, etc., to the new and existing employees.

An LMS records all this information to make the recruiting process more manageable. This medium assists in determining the long-term perception of a candidate.

As far as trackers for the amount of time worked and the completion of key performance indicators were concerned, FlentisPRO had the exact tools. The timesheet recorded the in-time and out-time of each team member. An automatic report could be printed with the help of an AI. Similarly, KPIs could be tracked.

Moving on, platform intelligence assisted in analyzing the achievements of the team members. As a result of the analysis, they were able to discuss the issues faced by employees. This led to better engagement and experience for the team members. After resolving these issues, we moved ahead to tracking expenses.

Our contingent management platform comes with a budget tracker to detect your transactions. This tool assists in saving amounts and avoiding spending on unnecessary goods. With this tool, our southeastern-state client achieved 29 percent profit within the first month of integration. Meetings were automatically scheduled on the platform's calendar, and our clients received reminders in time. In addition to this, they were notified about their near-to-expiration documents.

THE RESULT

In conclusion, everything fell in place and built their reputation over time. This bank is back on track and has its name cleared off the accusation grid. The North Carolina state-based bank is now in the top five United States of America banks by its assets. That's not all; it was also named one of the "100 Best Companies to Work For" in 2021 by Fortune magazine and global research and consulting firm “Great Place to Work for” the third consecutive year. The bank now has more than five thousand retail financial centers and around 20,000 ATMs worldwide. Their rapport is stronger than ever. Both employees and customers are delighted with the services provided by this financial house.

ABOUT FLENTIS

Incepted in 2017, Flentis is a growing, evolving, and future-first technology company that believes in bringing conscious change. Flentis is a game-changer for organizations planning or transitioning to automation. Our SAAS product, FlentisPRO, was built within 1Million+ expert hours. It is fully customizable, but the nine sophisticatedly designed modules have enhanced the Vendor Management System to the next level. Available in 105+ languages, this global product has already crossed the $400M+ mark for the acquisition budget spent via FlentisPRO. If you're looking for:

“A Reimagined, Reinvented and Renovated VMS Platform”

Then, let's get in touch!