Optimising workforce performance while reducing costs
Travelex Case Study
Workforce Management solution halves overtime costs, increases payroll visibility
Foreign exchange and cross-border payment provider, Travelex, has reduced its overtime expenses by 50 per cent and overall staff costs by 10 percent since implementing Workforce Management software from E-tivity® Corporation.
Since 2005, Travelex has deployed E-tivity Corporation‘s flagship product, E-tivity Enterprise, at 170 of its retail stores across Australia and New Zealand, gaining complete transparency of its payroll costs and allowing for better decision making and expenditure control.
Travelex’s retail division is the world’s largest foreign exchange specialist, with more than 700 branches globally.
Adam Koch, General Manager, Asia Pacific, Retail Division, Travelex, says the long trading hours of the company’s stores and the high number of employees meant it needed a product which could easily generate and manage a complex schedule. “The nature of our business – exchanging currency – means many of our stores operate in airports, with some of those open 24 hours a day and housing upwards of six tills,” Koch explains.
“From a business management point of view, it’s incredibly hard to make the right decisions without having the information you need right there in front of you,” says Koch. “With E-tivity Enterprise, we can get a snapshot of the current schedule at any time which means we can actually make decisions before incurring costs.
According to Koch, the biggest saving for Travelex has been in overtime, which he says has halved since the company implemented E-tivity Enterprise. “In many cases, overtime usually comes down to ineffective scheduling techniques – for example, putting an employee on for six days in a row or for shifts of more than 10 hours,” he says. “E-tivity Enterprise, however, allows you to look at overtime and actually flags where you’re incurring costs so you can make the necessary changes
before it’s too late.
“In the two years since introducing E-tivity Enterprise, we’ve probably made a 10 per cent saving in staff costs which, when you’re talking about 650 employees, is actually quite a significant reduction.”
Having deployed the software in both Australia and New Zealand, it was important for Travelex to have one platform which could manage both countries and the individual characteristics of the different IR laws. In E-tivity Enterprise’s case, it is able to calculate pays according to the relevant IR laws, regardless of the country in which staff are located. This is calculated through the E-tivity Work Rule Interpreter, which Koch says makes the payroll process far easier to manage.
“For me, it’s about the ability to take proactive steps in managing staff costs,” Koch concludes. “And that’s a huge advantage to any business.”
Read more - download the complete case study