security finance

Security Finance Corp

PeopleSoft Managed Services  

Security Finance Corp. (SFC) is a Loan and Tax Prep business that has been serving its clients for 65+ years. The company offers loans, mortgages, insurance, investment, and retirement products. Security Finance Corp. has a network of branches and agents across the country, as well as online and mobile platforms. The company’s mission is to help customers achieve their financial goals and security. Their corporate office is located in Spartanburg, South Carolina but they have offices across the United States, Mexico, and Central America. 

Scope of the Project

Security Finance management made the decision in 2015 to switch to PeopleSoft Cash Management in order to better handle their cash management and multi-currency needs. The project was initiated using an implementation company that was not a good fit. After eight months of little progress on the project, SFC reached out to Oracle to recommend a company that knew Cash Management, and Elire was brought in. Six months later, Cash Management was brought online and SFC’s PeopleSoft platform was a go. 

By 2021, SFC did not have the necessary in-house support and knowledge base to maintain their PeopleSoft application. The SFC team was having a hard time keeping up with PUM updates and patches, and attempts were made to bring in contract staffing with poor results. Once again SFC reached out to Elire for help, and in 2022 Elire was brought on to support SFC with Managed Services. This initial Managed Services engagement was for a one-year contract for PS Admin and day-to-day prod support. Additionally, Elire would support SFC’s in-house team for their Financials PUM 46 and PeopleTools 8.60 upgrade. 

The Challenge

The main difficulty that the Elire team faced was that SFC’s PeopleSoft environment was disorganized. Since Elire’s previous engagement, there had been many users working within the environment, with inconsistent organization and configuration.  

To resolve this, Elire began creating an entirely new PeopleSoft environment that would replace the existing one. This new environment was built piece by piece using previously established Elire and Oracle methodologies. Though this was a time-consuming process, the Elire team was able to overcome this challenge and create documentation for the SFC team so that going forward SFC would have a record and roadmap of all that was accomplished.  

Success Delivered

The PUM update and PeopleTools Upgrade were successfully completed on October 14th, 2023 and was on budget, even though the project timeline was pushed from the initial go–live date due to an unforeseen business audit that was not originally planned. The team saw the addition of PUM 46 and PeopleTools 8.60.05, as well as the addition of ElasticSearch and General Ledger/Accounts Payable WorkCenters for key efficiencies. Additionally, ten customizations were retired. Due to the success of the initial one-year engagement, SFC has decided to continue the Managed Services contract with Elire going forward.  

Interested in learning more about how Elire can assist your PeopleSoft team? Visit our PeopleSoft Services Page or contact our team at [email protected].

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