About Libra Internet Bank

Libra Internet Bank was established in 1996, being fully operational as of 1997, and in May 2003 the company became a member of the American investment group New Century Holdings (NCH). NCH, one of the most important foreign investors in Romania holds investments of over 3 billion dollars in Central and Eastern Europe of which over 300 million dollars were invested in Romania. The Group developed a powerful presence within our country ever since 1993, being involved in the development of multiple important sectors of Romanian economy: electro technical industry, bakery industry, constructions material industry, banking and finance services, capital finance services, real estate services, being major shareholder to multiple companies from these fields.

Libra Internet Bank is a bank authorized to fulfill all the activities specific to a commercial bank, as well as certain activities related to the capital market. Furthermore, the bank is a SWIFT member, shareholder to SNCDD, TRANSFOND, and BIROUL DE CREDIT. The bank is a reimbursement agent for the Financial Investment services societies (SSIF), being broker ion the secondary market of bonds and trustee for an investment fund. Libra Internet Bank is also a member of the Romanian Bank Association since February 1998.

Initial situation

In 2008, the organization was looking for a payroll software able to ensure the data processing for its employees, territory based across the entire country, timesheet import from the territory, the contracts record and tax statements generation without manual input.
In the same time, the bank required for the system to implement an approval feature for the new contracts and addenda issued by the Human resources department manager, thus ensuring the control of the personnel management.

In order to solve these issues, Libra Internet Bank opted for the “Sal-Your Payroll Expert” system.

Solution

Following a detailed analysis of the personnel activities and payroll process management, Romanian Software came up with a solution representing an efficient method to manage the human resources activities.
The solution intended to development certain specific modules and predefined reports.

The implementation included:

  • the development of a customized functionality for Approval Contracts in order to allow the human resources manager to approve the new contracts and addenda
  • configuration of the templates for frequently used documents for the personnel management: labour contracts, addenda and salary certificates
  • a working procedure for timesheet import was defined, with a configured import interface in Sal based on a customized template
  • views based on system data were created, in view of the database applications’ integration

In fact the main objective of the solution was to streamline the human resources activities, along with all the benefits that follow.

Benefits

  • To facilitate the import data from other applications, and managing to centralize them simultaneously with the accounting entries export to the financial accounting system Navision, thus determining the efficiency of the payroll calculation process (from data input to the transmission of the results to the financial accounting departments)
  • Data collection error control, data migration from the previous system, system configuration for the management of over 200 employees , active and expired contracts offer a higher flexibility regarding personnel fluctuations
  • The possibility to perform changes to the previous months’ calculation, amended tax returns export, and to different payroll statements offered an excellent control over different situations and payroll calculations for a long period of time
  • “Sal-Your Payroll Expert” reduced considerably the processing time of the personnel administration activities, along with the error elimination
  • Through the “Contract Approval” module, and “Sal-Your Payroll Expert” the control over the personnel fluctuations and over the changes incurred in the employees’ contracts, was maximized

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