Swiss banking group UBS has rolled out Oracle's Fusion human resources (HR) application to 65,000 staff in 50 countries across the world.
The bank has implemented Oracle Fusion Human Capital Management (HCM) in its software-as-a-service mode in a bid to update its HR software without incurring the cost of a new application rollout.
UBS has been a long-time user of Oracle software for human resources, and is migrating from a legacy PeopleSoft implementation.
"As a significant Oracle customer for many years, including the long-term use of Oracle's PeopleSoft as our core HCM platform, we were looking for a next generation 'business-enabling solution' that allows us to maintain our security and data protection, while reducing total cost of ownership," said Michele Trogni, group CIO at UBS.
She added: "We regard Oracle Cloud HCM Services as a good fit with our own technology strategy."
UBS is also planning to deploy a number of other Oracle Fusion HCM modules, including Global HR, Business Intelligence, Performance Management and Talent Management.
The popularity of HR delivered 'in the cloud' is gaining traction as companies seek to cut costs on administrative applications.
Many Oracle users, in particular, are also being challenged to upgrade from legacy Oracle, PeopleSoft and JD Edwards applications to Oracle's unified Fusion application and baulking at the cost – encouraging many users to consider alternatives.
UBS had, said Trogni, conducted an analysis of human resources software-as-a-service market alternatives before selecting Fusion HCM.