“SBS truly streamlined our
budgeting process and literally saved us weeks of tracking,
analysis and reporting. We went from a cumbersome Excel
spreadsheet, where even one formula error could halt the entire
process, to a web-based solution. In a period of a few days,
over 500 supervisors were able to simultaneously log in with a
secure password and submit salary and performance recommendations
to their managers. The modeling tools allowed us to gain
valuable insight into the projected costs associated with our base
salaries, overtime, incentive compensation, taxes, and the
benefits package... numbers that were very difficult, if not
impossible, to accurately budget in years past."
Fran
Wahrman, VP/Compensation Systems and HRIS, Sky Financial Group
When Sky Financial Group of Bowling Green, Ohio decided it was
time to streamline their compensation budgeting and salary
administration process, they selected the Centrix Salary Budgeting
System (SBS) as the solution. With assets exceeding $11
billion and an employee base of 3,300 spread across 220 locations,
the complex array of budgeting spreadsheets used in prior years
had become inefficient and increasingly ineffective.
Numerous requirements and objectives were identified prior to
implementation.
- Eliminate
spreadsheets
- Deploy
a web-based system (minimal impact on IT department)
- Integrate
with the on-line HR system including a single sign-on for
managers
- Flexibility
in changing budgeting scenarios
- Shorten
the budgeting cycle
- Enable
management to more efficiently understand the financial impact
of salary adjustments
Successful implementation was a concerted effort between
Centrix Solutions and project team members from the holding
company. After a full budgeting cycle, the following
successes were documented:
- More
levels of management involved in the budgeting process in a
secure environment
- Increased
accuracy
- Improved
efficiency that vastly reduced work hours between financial
planning officers and department managers
- Increased
reporting capability
- Ability
to separate merit adjustments from adjustments to minimum (by
organizational unit)
- Ease
of use
-
Robust modeling capabilities
For more information on the Centrix Salary Budgeting System,
refer to the SBS
portion of our web site or contact us via email at
info@centrixsolutions.com
or telephone at 402.488.3990.
