SAN FRANCISCO, Sept. 21, 2016 /PRNewswire/ -- Oracle OpenWorld -- Oracle announced today that MoneyGram International Inc., the second-largest money transfer company in the world with $1.45 billion in annual revenue, has implemented Oracle HCM Cloud to overhaul its human resources (HR) operations and reduce administrative processes to be more efficient. Reports that previously took 40 hours to produce can now be completed in 80 percent less time.
Serving more than 350,000 agent locations in more than 200 counties, MoneyGram was in need of a global tool that could accommodate the needs of its nearly 3,000 employees. The existing system required too many spreadsheets, and manual processes that were complex and did not scale. MoneyGram managers struggled to keep up with changing market demands and additions to new products and services for the sales team. The lack of a central global data storehouse for employee records and business information made it difficult to generate reports or analyze market opportunities.
Previously using a manual, on-premise service, MoneyGram opted for Oracle's Cloud technology for its scalability and worldwide presence to help accommodate various country-specific HR issues and help streamline its global operations. MoneyGram selected Oracle HCM Cloud with specific functionalities including Global HR, Payroll (U.S.), Workforce Compensation, Goal and Performance Management, Talent Review and Succession, and Recruiting and Onboarding. The Oracle implementation changed 25 percent of MoneyGram's transactional infrastructure, executives said.
"MoneyGram needed a holistic approach to HR where scalability was one of the top considerations, and this is the main reason we looked at Cloud," said Paula Peacher, senior director of Global Payroll and HRIS at MoneyGram. "Oracle HCM Cloud consolidated our payroll processes and helped us accommodate country-specific issues from a core HR standpoint. It assisted with security requirements from information to data privacy. It also increased efficiency and control and helped improve our process cycle times so we could be more responsive to market demands and maintain a competitive edge. Ultimately, our staff was able to cut time needed for new product introductions by 40 percent."
The Oracle platform is delivering important time-saving benefits in the first year of implementation. Other benefits include savings in cost and the consolidation of multiple outdated and non-integrated legacy systems. MoneyGram executives estimate that the company has the potential to save millions of dollars by retiring outdated systems and transitioning to Oracle HCM Cloud.
"Oracle is delivering bottom-line benefits for companies such as MoneyGram through innovative, flexible and unified cloud solutions," said Gretchen Alarcon, group vice president of HCM Product Strategy for Oracle. "A tightly integrated system leads to more data integrity for the company and is ultimately more beneficial for their customers in the long-run."
Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. For more information about Oracle (NYSE: ORCL), visit oracle.com.
About Oracle OpenWorld
Oracle OpenWorld, the industry's most important business and technology conference for the past 20 years, hosts tens of thousands of in-person attendees as well as millions online. Dedicated to helping businesses leverage Cloud for their innovation and growth, the conference delivers deep insight into industry trends and breakthroughs driven by technology. Designed for attendees who want to connect, learn, explore and be inspired, Oracle OpenWorld offers more than 2,200 educational sessions led by more than 2,000 customers and partners sharing their experiences, first hand. With hundreds of demos and hands-on labs, plus exhibitions from more than 400 partners and customers from around the world, Oracle OpenWorld has become a showcase for leading cloud technologies, from Cloud Applications to Cloud Platform and Infrastructure. Oracle OpenWorld 2016 is being held September 18 – September 22 at Moscone Center in San Francisco. For more information; to register; or to watch Oracle OpenWorld keynotes, sessions, and more, visit www.oracle.com/openworld. Join the Oracle OpenWorld discussion on Twitter.
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About MoneyGram International, Inc.
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.
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