US-based Insurer implements IT Chargeback and Forecasting Solution

Posted on: November 30th, 2017 by Paul Delehanty

US Based Insurer implements IT Chargeback and Forecasting Solution with Digital Fuel

Overview of Customer:

Customer: US Based Insurance Company with more than $25B in annual revenue.
Solutions: Financial Intelligence, Benchmarking Intelligence
Using Digital Fuel to: Implement an IT Chargeback solution providing consumption and billing information to Business Units. Customer also used Digital Fuel to enable forecasting from financials and allow demand forecasting for the next three years.

Customer Project Goals:

  • Provide a Solution that can perform calculation and reporting of IT charges, including forecasts, to business customers on a monthly basis in an efficient, structured and organized format.
  • Provide the business users the ability to have complete visibility and transparency into the costs of the IT services, including Forecasting capabilities.
  • Provide the capability to benchmark IT services with functional peers and industry standards.
  • Provide the organization with a foundation that can leverage multiple data sources into a centralized and consolidated place allowing ad-hoc reporting and drill downs to support business impact decisions; thus minimizing resource time for analysis.
  • Drive accountability for IT spend with joint ownership to manage costs between IT and the Business

Execution:

Digital Fuel Team: 5 Resources

  • 2 FT Senior Business Consultants
  • 2 PT Consultants
  • 1 Customer Success Manager

Time to Value: Initial Cost Model implementation in less than 1 Business Quarter. Continuous evolution of their Cost Model and Forecasting Solution since that time with feedback from IT Executives and Business Leaders.
Implementation Highlights:
This project is a great example of the customer learning the tool, taking ownership and delivering value. The customer’s Finance team were both business and technically oriented, and have effectively utilized Digital Fuel’s Easy and Flexible platform to partner in the implementation. In response, Digital Fuel’s PSO team rapidly delivered a powerful forecasting and planning solution as well as going on to implement a successful demand planning and entering process delivering monthly insights and business value to more than 800 stakeholders.

Following this implementation, the customer discovered significant cost optimizations across infrastructure and operations. To detail one of multiple savings opportunities, the customer leveraged Digital Fuel to analyze and provide guidance in driving an infrastructure cost optimization initiative resulting in tens of millions of dollars in realized hard dollar cost takeout.

Customer Feedback:

The customer has achieved a robust forecasting and charging solution through multiple iterations. This solution establishes actionable insights to drive business decisions across multiple lines of business.

Customer Next Steps:

The customer has set a goal of simplifying their cost model, improving performance, and introducing new planning & forecasting capabilities.

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