Canadian Imperial Bank of Commerce
Bank's Pioneering Outsourcing Partnership Yields Big Returns
A series of internal changes and consolidations left Canadian Imperial Bank of Commerce (CIBC) with a fragmented IT environment that included 30 separate HR systems. To implement the bank's transformational new e-HR strategy and streamline its HR delivery, CIBC signed a landmark outsourcing agreement with EDS. We designed and implemented My.HR@CIBC, an online, self-service tool that allows employees to manage their own benefits while enabling the bank to manage compensation, training and hiring from a single system. EDS also transitioned approximately 200 CIBC staff to handle payroll processing, benefits administration and other HR projects – nearly 1,000 procedures in all. The cost? About the same as CIBC previously paid to maintain the old, less effective systems.
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