The SAP ECM solution´s first performance level went live in early November. Due to the early involvement of users in the project, the introduction - according to the company itself - went smoothly. Seidler reports with satisfaction: "A successful ECM project introduction is confirmed by the fact that we do not receive many requests from the users after the rollout, nor subsequently from the compensation recipients".
In order to achieve these results, the new application was presented at the various locations during a roadshow. In addition, an explanatory film was produced, which presents the application in 100 seconds.
In performance level 2, the complex calculation of the risk taker bonus was integrated into SAP ECM for the investment company. Hence, manual data processing could be reduced and the regulatory requirements for compensation systems were met.
According to Union Investment, the core elements of the ECM system at Union Investment are the following:
- Flexible delegation process for determining the executive managers
- Transparent process status overview including display of the cumulative planning values for each manager
- Simple forms with clear structures
- Different selectable views with varying degrees of detail during the planning phase
- Year-round visibility of compensation data for executives, in real-time
- Secure data transport from planning to correspondence and payroll accounting
- System-based calculation and payment of complex bonus and compensation systems
Union Investment states, that SAP ECM provides improved process stability as well as a SAP-integrated, comprehensive mapping of compensation processes. A further result of the compensation management implementation is an increased transparency of the overall process for the decision makers, combined with a significantly improved usability. This results in qualitatively improved data for compensation management - both for managers and HR responsibles.
The Union Investment Group is a proven expert for fund asset management in the Cooperative Financial Network. Union Investment has been developing investment solutions for private and institutional investors for 60 years. In March 2016, 2,727 employees served over 4 million customers with assets under management of around EUR 268.5 billion in 1,208 different funds.