Implementing Online Workforce Management

Wachovia taps White Amber to improve visibility, spend analysis for better workforce administration

Lake Success, NY — August 25, 2003 — Financial services provider Wachovia has implemented a human capital management solution from White Amber in a bid to provide convenience to internal customers, streamline processes and reduce costs.

Wachovia is one of the five largest bank holding companies in the country, with $364 billion in assets and more than 80,000 employees in 700 offices across 48 states, as well as 30 international offices.

Like most other large companies, Wachovia relies on temporary labor to meet shifting business needs, and hiring and managing thousands of workers has been a significant — and growing — cost center. Wachovia needed improved visibility and analysis of spending patterns for better workforce administration.

Now the company will leverage White Amber in an effort to better manage workforce spending across the company, centralize short-term and high-volume workforce needs and drive down annual investments on temporary and flexible staffing.

White Amber said it helps large companies save money by combining expertise with software to streamline all aspects of the labor sourcing process, from gathering bids to negotiating pricing to ensuring compliance with human resources requirements and federal and state regulations.

According to White Amber, the service is free for Wachovia, while suppliers are charged a "pay to play" fee. White Amber claims its customers typically save 12 to 20 percent annually by guaranteeing that positions are filled with the right person at the most cost-effective rates, reducing administration and providing enterprise-wide reporting for a comprehensive perspective.

Research from Gartner asserted that human resources management is the most commonly outsourced business process, and predicts that HR outsourcing will reach $46 billion this year, growing to $51 billion in 2004.

"White Amber has helped us shift the way we view temporary or contract labor," said Denny Clark, senior vice president and director of recruiting at Wachovia, based in Charlotte, N.C. "Flexibility has become a huge asset that allows us to take a more strategic approach to the way we manage this business. The solution gives us unprecedented visibility that helps us gain control of the process. It ensures access to the best quality workers and helps us partner with our preferred suppliers to drive savings."

"Contract labor can be a strategic and extremely cost-effective total talent solution for companies of any size, in any market," said Michael Cruz, executive vice president of client services of White Amber.