Sparked by an ongoing quest for reliable data to guide profit and growth planning, and a never-ending backlog of information requests, American Family Insurance (AmFam) sought a technology partner to help manage data and minimize resources required to manually calculate IT cost.
In search of a definitive answer to the frequently asked question of “how does our organization best understand IT expenditures,” in 2015 AmFam launched a strategic initiative to partner Corporate Finance and Information Services (I/S) divisions to empower IT intelligence and business decisions.
- The organization lacked a system that could quickly provide insight into technology costs, track benchmarks, enable IT cost optimization and facilitate data-driven decisions.
- The department did not have a (user-friendly) method to share IT financial data with internal divisions and business partners, resulting in a backlog of requests that drained staff resources and limited the department’s resources to perform higher-level functions.
- Consolidating Information Services expenses for total cost of ownership requests (TCOs) was manual, time-consuming, and only represented a snapshot in time.