Swiss bank UBS has hit major delays migrating to a cloud-based HR system and is yet to complete the move two and a half years after deciding to implement Oracle Fusion Human Capital Management (HCM).
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Sources said the migration to the system, that will provide HR services to support 65,000 workers in over 50 countries, has been hit by major delays.
One source told Computer Weekly that the existing HR system was due to be decommissioned but was not done in time. It has instead been put back until next year.
The reasons for the delay are unclear. When asked by Computer Weekly, UBS would not comment.
Changing HR systems is a challenge because there are certain times of the year when use of them peaks. The source said if you miss targets delays can be big: “At the end of the year there is a lot of HR activity at banks with things like bonuses being paid.”
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UBS plans to use various Oracle Fusion HCM modules, including Global HR, Business Intelligence, Performance Management and Talent Management .
Speaking in 2012 when the deal with Oracle was announced, the then CIO, Michele Trogni, said: “As a significant Oracle customer for many years, including the long-term use of Oracle’s PeopleSoft as our core HCM platform, we were looking for a next generation business-enabling solution that allows us to maintain our security and data protection, while reducing total cost of ownership.”
UBS reviewed HCM software as a service suppliers before selecting Oracle Fusion HCM as a strong fit due to its functionality and secure delivery. For a global financial services institution, such as UBS, data security is of critical importance.
Businesses are moving HR systems into the cloud and, according to Gartner, cloud systems will account for almost half of the $9bn human capital management systems market in 2015.