Since its founding in October 1978, Rafael Carrión Jr. Credit Union has been a closed and legally independent entity that provides financial alternatives to regular and retired employees of Popular, Inc. and its subsidiaries. It is one of 100 savings and credit cooperatives insured and regulated by the Corporación Pública para Supervisión y Seguro de Cooprativas de Puerto Rico (COSSEC), a government agency that ensures the integrity and financial strength of Puerto Rico's credit unions.
OBJECTIVES:
- To integrate the payroll system to other existing solutions.
- To offer visibility of payroll information and benefits with flexible reports that allow effcient management of resources.
- To increase the flexibility of managing data and changes in real-time.
RESULTS:
- Maximum control of HR operations and processes.
- Reduced training needs due to its intuitive design and easy to use platfom.
- Improved evaluation process on both ends: management and employees.
- Increased user's trust levels with easy clock-in corrections screens.
- Access to all the functionalities needed at reasonable prices.
- Flexibility to approve payroll and perform other tasks remotely.
Challenge
Although being a separate entity from Popular since its foundation, the Cooperative received certain benefits from Popular, which produced savings in operational expenses. These savings turned into additional operational earnings that were split as dividends among its members. In November 2018, management decided to implement some changes to ensure faithful compliance with industry best practices. This decision implied for the Cooperative to assume total expenses and operation of certain functions and processes previously supported by Popular's employees. Also, some of the Cooperative employees could decide to stay or be transferred to Popular. That left José Cruz, Executive President of the Cooperative, with only 10 employees to manage the transition while providing services to members, seek for vendors and implement operational changes in less than 30 days.
Business Needs
Aside from the short time frame, the new operational tasks to be managed by the reduced Cooperative staff included payroll processing, time & attendance, and HR services. In search of solutions, Rafael Carrión Jr. Credit Union developed a Request For Proposal (RFP) and met with various suppliers. RENOVA Solutions was the only company that complied with the RFP schedule and specifications. "My main concern was being capable of assuming all these new processes and train employees on time. One of our biggest challenges was assuming HR functions while providing all the same services to our members," explained Cruz.
Process
Aside from the short time frame, the new operational tasks to be managed by the reduced Cooperative staff included payroll processing, time & attendance, and HR services. In search of solutions, Rafael Carrión Jr. Credit Union developed a Request For Proposal (RFP) and met with various suppliers. RENOVA Solutions was the only company that complied with the RFP schedule and specifications. "My main concern was being capable of assuming all these new processes and train employees on time. One of our biggest challenges was assuming HR functions while providing all the same services to our members," explained Cruz.
Business Impact
Some of the features obtained through these solutions include a single point of data entry, a highly available repository of transactions, access to a web portal for employees, and access through mobile devices or smartphones.