Page 60 - English

Numerous finance, human resources, and employee self- service functions are linked in this one-stop portal, through which employees now submit automated forms and manage information, among many other functions.
The configuration of the ERM enables managers to review and approve transactions,
and access key performance indicators and other metrics through dashboards and system-generated reports. Human Resources and Finance department policies are embedded in the system’s advanced workflow engine, reducing manual intervention and ensuring policy compliance.
Needs and Requirements
In 2014, following the assessment and planning phases, the cross-divisional team embarked upon the automation and integration of systems. Human Resources managed a performance management system and a separate data collection system. Finance systems included payroll and purchase requisitions, SharePoint for procurement, a stand-alone system for accounting, and many Excel and Access-based systems for record-keeping
and transaction monitoring. Each of these systems required its own data entry, calling for time-consuming inter- and intra- department communication to update systems.
Human Resources Systems
The Regulatory Authority’s performance management system was re-envisioned
from a manual process to
an automated, integrated system that is accessed via
the My Gateway portal. The performance review process itself is standardised across departments and divisions, making the process clearer for both managers and employees.
Regulatory Authority employees update their own information for everything from leave requests to expense claims via My Gateway. The self-service function replaced a manual system of submitting forms to Human Resources,
which was then responsible for data entry. This has resulted in more accurate and updated information across all Human Resources systems, and better accessibility to this information for managers and Human Resources staff. Policies are embedded in the system, providing guidance to employees whenever they update their information or log a request.
When employees update their information, the same changes are immediately reflected in the other Human Resources and Finance systems, saving time and resources with a single source of data entry.
Finance Systems, Processes and Procedures
The department automated the expense claim and budget processes, with policies and workflows integrated with the system.
Monthly reconciliations were replaced with daily automated bank reconciliation. Accounting entries are auto-generated with a single data entry. Transactions and expense items are mapped to the General Ledger accounts, for a more efficient and accurate process.
The payroll process has
been greatly improved with
the integrated system, with automated payroll reconciliation and payment transfers.
With the system that was put
into operation in early 2015, managers can access real-time financial data, with decision- making informed with timely and
58