Financial Institution uses Scorecard to drive IT transformation

A major US financial firm is using a scorecard to drive IT transformation. This post explores how the firm is doing and how it is taking measured steps to make this happen.

 

The firm has started a three-to-four year restructuring process. In this process, they plan to change roles, responsibilities and how people are measured. Measurement will begin by looking at how well IT supports the growing demands of the business. IT measures and manages business services including lending, mortgages, Internet banking and mobility. Historically, IT has lacked one view into the KPIs that are critical to align IT and the business.

To change this, executives decided that they need an active view into data coming from their project and portfolio management system as well as their service management system to cover strategic demand, operational demand and customer servicing. They defined three critical areas to improve:

 

1)      Resource capacity improvement

2)      ITIL process improvement

3)      Quality of new service improvement

 

The first critical success factor looks at improvement of project delivery/status, issue/risk and scope changes. The second deals with improvement in handling incident, problem and change processes. For change, they are looking in particular at change rates and emergency change rates. We know that if emergency changes are high, there is a direct impact on service delivery, security, incident volume and even cost. The customer hopes by taking a KPI viewpoint that they will be able to take an integrative view of processes and procedures. And this, over time, will decrease cost and risk. They see it as providing the sustainability needed for growth and compliance.

 

The customer says HP’s Executive Scorecard will enable them to have quick access to KPIs that let them effectively communicate where they are in delivering against their goals/objectives, as well as be able to drill into the information to address issues. Quoting Peter Drucker, they say, “If you can’t measure it, you can’t manage it.” They are starting with data sources such as PPM and Service Manager. They will expand to BSM, UCMDB/UD and Asset Manager to get total cost of ownership in later phases as they integrate in the next 12 months.

With their strategy in hand, this financial institution is able to use HP’s Executive Scorecard to ensure that they get where they want—the basis for business and IT alignment at any company.

 

Related links: Why keeping score in baseball and IT is more than a single-inning affair!

The CIO’s game-changing skill: bridging IT and business data

Lubrizol IT makes a difference by changing its discussion with the business

Solution page: IT Executive Scorecard

Twitter: @MylesSuer

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About the Author
Mr. Suer is a senior manager for IT Performance Management. Prior to this role, Mr. Suer headed IT Performance Management Analytics Product ...
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