Recruitment Obstacles

This is an extract of a case study published by HCM Works after working with Canada's 6th largest commercial bank to rationalize its supplier base, gain visibility on spending, and reduce costs.


Canada's 6th largest commercial bank, providing comprehensive financial services to consumers, small and medium-sized enterprises and large corporations, was looking to partner with a Managed Services Provider (MSP) to help optimize its workforce procurement.

Faced with a complex and cumbersome manual two-month-long procure-to-pay process, the bank needed to rationalize its supplier base, gain visibility on spending, and significantly reduce costs. The financial institution selected HCMWorks to do this job.

A multi-phased implementation process covering the identification of business requirements, Vendor Management System (VMS) platform selection and integration, as well as critical areas linked to company-wide deployment and adoption by all stakeholders, including communication and training. Key steps included the following:

  • Business Requirements

  • VMS Tool Data/Parameter Requirements

  • VMS Tool RFP and Selection

  • Vendor Engagement

  • Policies

  • VMS Tool Data/Parameter Configuration

  • Testing

  • Communication

  • Training

One year into the implementation of the program, they saw a very strong impact on the workforce procurement process with significant gains in several key areas:

  • Implementing Vendor Management Software (VMS) and employing an MSP led to an automated 11-day procure-to-pay process – driving out 49 days of wasted time.

  • 10% in savings of spend under management resulting in millions of dollars of recurring savings year after year.

  • Increased compliance to tenure policies and a 17% reduction in contractor tenure, helping to mitigate co-employment and misclassification risks.


Read the complete case study here.

Technology solutions and automation software always seem to optimize processes, whether financial, like this case, or concerning management or communications. Do you agree with this? Share your thoughts in the comments section below. 


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