Trading firm aligns financial data with HR activity-Talentia Software


Trading firm aligns financial data with HR activity through the use of consolidated technology from UK software specialist
 
Talentia Software, the award-winning supplier of business management solutions, has enabled an international trading organisation based in Saint Kitts and Nevis to effectively manage its performance and people through the combined use of web-based finance and HR systems. Used in tandem, these will provide greater financial visibility and a robust alternative to spreadsheets.
 
The St. Kitts Nevis Anguilla Trading and Development Company Limited (TDC) has over 150 years’ experience in trading, development, agriculture, and finance. With more than 700 employees, TDC selected Talentia’s CPM Consolidation solution in January 2013 to benefit from enhanced data integrity and to support financial compliance. The company has now combined this with Talentia HCM to simplify the process for optimal management of human capital.
 
Prior to working alongside Talentia, TDC used a combination of paper-based systems and spreadsheets to manage financial and HR data. This approach presented challenges in terms of generating key metrics in a timely manner and made frequent processes, such as absence management, unnecessarily time-consuming. To overcome these issues, TDC believed it was time to automate its finance and HR functions via easy-to-use systems that are quick to deploy to allow a fast return on investment.
 
Earle Kelly, Chairman of the TDC Group of Companies, states, “As a diversified business, understanding the performance of each operating segment is essential. The CPM platform from Talentia has provided us with a benchmark solution for consolidation, reporting, budgeting and dashboard analysis. With this new HCM system now in place, one of our key focuses will be streamlining processes, such as recruitment, to free up time for the HR team to focus on strategic activity. The key benefit to us is the ability to use time more effectively and to use the information made available to us through this technology to help support business decisions.” 
 
Earle Kelly adds, “Our expectation is that by combining these two areas, our financial data will align closely with HR activity and provide our HR team with greater clarity of data with regards to our people. We are looking forward to being able to build and schedule key reports from within the system as well as using the ad hoc reporting functionality to quickly get answers to key questions, for example with regards to key areas such as salaries and health and safety.”
 
“TDC’s decision to combine the use of our CPM and HCM solution is reflective of a strategic shift that we are seeing within many firms, with increased levels of collaboration between finance and HR functions with regards to strategy and data. Technology is supporting and enabling this way of working,” states Julie Windsor, Managing Director at Talentia Software UK.  “TDC emcompasses a multitude of business areas and as it continues to grow, the need for HR to become a strategic business function and work very closely with finance is becoming more important. HCM’s implementation alongside CPM will help  to support this transition. ”  
 
TDC’s decision to align its finance and HR activity through the consolidation of these two modules follows the results of a recent survey of 130 UK Finance Directors and Chief Financial Officers, carried out by Talentia, that revealed that 54% believe collaboration across company departments is vital to corporate performance, with 81% citing the importance of accurate data. Talentia believes that, through key financial processes now residing within a corporate database, TDC will benefit from enhanced data security due to the integrity inherent within the system’s design. The move will also enable greater collaborative working between the organisation’s finance and HR departments through the provision of accurate data. 
 
Julie Windsor concludes, “Our proven CPM and HCM solution brings together two critical business functions to better enable companies such as TDC to analyse performance, make informed data-driven decisions and to achieve competitive advantage.”
Talentia CPM enables organisations to benefit from pertinent and reliable performance indicators to guide strategic decisions and to obtain a single view of business information. The collaborative solution automates and reduces reporting lead times, making financial communication more reliable and aiding with decision-making.