TBM Council Awards
Congratulations to the 2019 TBM Council Award Winners!
Like so many IT departments before them, the ability of First Citizens Bank's IT organization to positively impact the business was being hampered by its inability to link business value to the dollars it was spending.
In search of a solution to using, the team sent technology finance consultant Robert Winchester to the 2014 TBM Conference in Miami. During the day he took part in keynotes, networked with fellow attendees, and attended sessions. By night, he was busy (somewhat ironically) working on the spreadsheets for the bank's 2015 budget. That's when he realized there was a better way.
Because of TBM's ability to lift the lid on the black box of IT spending, Apptio is now IT's system of record for all of IT's finances. And, since Apptio continuously updates reports with new data, IT finance no longer has to spend days just populating reports to present to management. Since implementing Apptio, IT actuals have come within one percent of forecast for the past four years.
As a leading global provider of location and mapping technology to some of the world's most recognizable automotive and location-services brands, the time and money HERE IT spends on application development and product support is crucial to the company's continued success. Understanding how this money translated into bottom-line dollars proved elusive.
By leveraging the insights provided by TBM, HERE was able to provide technology spending reports to each department that accurately reflected the true cost of the technology they consumed. The clarity these reports provided finally began to alleviate the ambiguity around IT's numbers, while providing better oversight of HERE’s IT spend. This allowed line of business managers and the C-suite to focus on future business outcomes rather than past spending.
TBM helped HERE re-imagine IT by becoming the driving force for interdepartmental transformation. IT, Finance, and the boardroom are now aligning their previously separate focus, working closely together, and speaking a common language.