A large national logistics company with 8000 employees was looking to eliminate labor burden from the HR department so they could focus on more strategic tasks. One area of HR that was particularly challenging was handling incoming requests for verification of employment and income. This included verifications for employees buying cars or houses, previous employees who were applying for a new job and government agencies seeking to verify job status and income. The client estimated they were handling over 200 verifications per month, which took over 35 hours of time to process.
The client signed an agreement with Vault Verify to automate all VOE/VOI’s, including social services and government requests, in July of 2016. The implementation began immediately and the company went live with Vault Verify in August of 2016. Vault Verify does not charge for implementation or set up, allowing the company to recognize immediate ROI upon go-live.
The client had this to say about Vault Verify:
“As an 8,000 employee company, Vault Verify has enabled us to offload the labor burden, liability and cost of managing 175-200 verifications per month. The implementation was quick, easy and free and we get a check from Vault every month that has helped us pay for other HR projects!”
|Expected ROI first full year:|
|Implementation/ set up and ongoing costs:||$0|
|Expected number of annual verifications:||2400|
|Labor savings versus completing in-house:||$17000|
|Client revenue share on commercial VOE/VOI:||$9600|
|Total first year ROI to client:||$26600|
|Three year ROI to client:||$80000|