US Banking Giant uses Digital Fuel to manage $3.5 Billion IT Budget

Posted on: January 22nd, 2018 by Paul Delehanty

US Banking Giant uses Digital Fuel to manage IT Budget of $3.5 Billion

Overview of Customer:

Customer: US Banking Giant managing more than $1.7 Trillion in Assets uses Digital Fuel ITBM to manage an IT Budget of more than $3.5 Billion.
Solutions: Data Management, Service Intelligence, Financial Intelligence, Benchmarking Intelligence
Using Digital Fuel to: Create a Complex Cost Model with over 14 allocation layers and more than 40 Cost Groups allowing the customer to initiate advanced Benchmarking and Forecasting, including multiple what-if scenarios, scenario comparisons and data freezes. The customer has used Digital Fuel to create a scalable solution supporting huge data volumes that include managing more than 10 million expense records and more than 100 million historical records allowing them to calculate billing and reporting for more than $3.5 billion in IT costs.

Customer Project Goals:

  • Manage billing and reporting for more than $3.5 billion in IT costs.
  • Manage IT Services in over 10,000 departments in more than 200 countries.
  • Provide the capability to benchmark IT services with functional peers and industry standards.
  • Create a highly functioning solution based on more than 350 input sources and 150 logic elements.
  • Improve traceability of charges and reduce complexity of cost allocation rules
  • Process billing from global inventory feeds

Execution:

Digital Fuel Team: 6 Resources

  • 4 FT Business Consultants
  • 2 FT Solution Architects

Time to Value: Customer has been successfully using Digital Fuel ITBM for five years, with successful iterations of the cost model year-over-year. The initial Billing Solution was implemented internationally over 5 Business Quarters.
Implementation Highlights:
Before implementing with Digital Fuel, the customer’s challenges were lack of standardized and automated processes, lack of linkage between rates and TCO, and multiple, disjointed tools, requiring manual workflow processing and lengthy turnaround time. Digital Fuel’s team implemented comprehensive auditing, reduced manual labor and error factor via process automation and impact analysis reporting and built a solution allowing for accurate forecasting and budgeting of IT Services.

Customer Feedback:

The customer has continued to grow their utilization of Digital Fuel in each of the previous five years, highlighting Digital Fuel’s successful implementation of cost modeling, billing, and reporting as a powerful rationale for continuing to partner with Digital Fuel in managing their IT spend.

Customer Next Steps:

With an IT Budget of more than $3.5 Billion and a global presence, the customer continues to integrate Digital Fuel’s solution seamlessly into their global operations, with a particular focus on forecasting and further improvements to platform integration and increased billing and reporting efficiencies.

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