Nasdaq Vilnius Services

Nasdaq Vilnius Services

Nasdaq is the largest supplier of technologies for trade in securities, quoting services and related information on all six continents. The company’s technologies are unbeatable for ensuring transparency and understanding of matters in contemporary capital markets. Nasdaq Vilnius Services, the technology and business-competence centre, creates cutting-edge technologies and solutions for global financial markets and manages securities markets, financial accounting, IT system administration and other operations. The company currently employs 141 professionals who specialise in various fields, offering their services to companies and clients of the Nasdaq group in Europe, the US and Asia.

About the project

The client was seeking efficiency through the automation of processes, with its choice falling on the DocLogix document- and process-management system. Nasdaq Vilnius Services is a rapidly growing enterprise, and it goes without saying that this means an enormous workload for the human-resources department. The client expects to expand in the near future and create about 200 new jobs in the next two to three years. The automation and optimisation of personnel-related processes are therefore strategically important steps towards ensuring that the company’s performance is efficient and smooth.

Solutions adopted and results achieved

The DocLogix document- and process-management system speeds up employee involvement in company processes, as well as simplifying the monitoring of working hours and saving time through the automation of a multitude of other staff-related operations. Following the installation of DocLogix, operational costs have fallen because manually demanding tasks are now performed faster and more efficiently. Document management is transparent and structured, helping to avoid delays.

Better coordination and efficiency for management of working hours

Upon the client’s request, we created a system for recording employee working hours. A DocLogix calendar was also adapted to the Nasdaq needs.

Nasdaq employees often go on business trips and the accounting of their working hours differs (for some the total number of hours is recorded, and for others their night shifts). In such cases, the HR department can run into difficulties while trying to control the situation and avoid errors in calculating working hours and pay.

After introducing DocLogix, Nasdaq employees can fill out the forms themselves for things such as working hours, holidays and business trips. At the end of the month, this data is used to generate a log that is then sent to the human-resources department. This solution saves time for employees in the HR department. It also helps the recording of working hours to be managed in a manner customary at international corporations, whereby employees are responsible for logging their own hours.

Faster and simpler filling-in and processing of holiday-request forms

Another method for speeding up personnel-management processes is filling in holiday-request forms in the DocLogix system. This solution was introduced at three companies with offices at the Technology and Business Competence Centre – namely Nasdaq Vilnius Services, Nasdaq Vilnius Stock Exchange and the Central Securities Depository of Lithuania. The first advantage of this solution is that it is a unified and easily accessible holiday-request form. The second advantage comes through the automation of processes: once an employee fills out the form, it is automatically forwarded to the manager for approval, and then to the personnel-management specialist. The latter issues an order, the data from which will be used to automatically update the employee’s hours log. This wasone of the first automated Nasdaq processes that allows simplification of the submission process for holiday-request forms and a reduction in the number of paper documents in circulation.

More efficient contract management

The DocLogix contract-management solution helps with the administration of large flows of incoming and outgoing contracts. The system features a standardised contract template that Nasdaq employees can use to quickly fill in the details, names and terms of a contract, and attach scanned copies of it. This has provided solutions to issues involving the contract archive. Efficient contract management is enabled by the ability to filter contracts by type, validity period and other characteristics, and by automatic notifications about the expiry of contracts. Structured contract management allows it to be ensured that important documents are not lost and reach their destinations on time.

Possibility to modify the system without programming skills

Our clients were happy about the low maintenance costs for the system and the ability to expand its functions by themselves. Even in the absence of any programming knowledge, the client can create new processes, document forms and certain solutions by using the configuration tools available in the DocLogix system. DocLogix enables Nasdaq to improve existing solutions (for example, through full automation of the time-card filling process) and create new ones that allow various processes to be optimised.

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