The Financial Reporting Council’s (FRC) mission is to promote transparency and integrity in business reporting and auditing.
With almost 300 employees and growing, the organisation is the UK’s independent regulator responsible for promoting high quality corporate financial governance and reporting.
The challenge
As the official body responsible for setting the UK’s ethical standards in reporting and auditing, the FRC's HR & Payroll systems should meet the same high standards of transparency and efficiency.
But with HR & Payroll based across multiple integrated systems – supplemented by legacy paper-based processes - management reporting on FRC’s complex working patterns was inefficient and time-consuming.
The Solution
FRC turned to XCD to provide a single cloud-based HR & Payroll solution that would streamline reporting and bring paper-based processes online.
In order to streamline processing and reporting, XCD would bring HR, Payroll and Recruitment into the Salesforce cloud as a single, remotely accessible tool. While unnecessary HR admin would be reduced through the introduction of XCD’s simple self-service interface for managers and employees.
The XCD system was configured to ensure FRC’s non-standard working patterns could be effectively delivered, with important metrics like leave reporting tracked, and dashboards available in real-time.
The Results
Improved data practice and the digitisation of previously manual processes has transformed FRC’s ability to deliver effective reporting, ensuring remote access to personal information and HR processes through XCD’s intuitive self-service interface.
With a roadmap that includes the potential to add XCD’s Learning & Skills module, plus Performance Management and Salary Review, XCD’s support and consultancy experts have forged close working relationships with the FRC team, developing the system’s unique configurations and dashboards.
This project is a fantastic example of XCD enabling data-backed strategic decision-making and reporting efficiency - in line with the high standards FRC itself sets for UK corporations.
“XCD is a simple and user-friendly system and has significantly reduced the amount of time we spend on management reporting. It’s refreshing to work with a system that can be so easily configured to meet our complex needs, instead of being constrained by a tool that only works in one way.”
Introducing payroll allowed FRC to streamline all reporting via a single solution
Introducing recruitment allowed FRC to bring paper-based processes online
