2021 TBM Council Award Winner:

TBM Pacesetter

TBM Helps Commonwealth Bank of Australia with Tech Costs


Executive Summary

With a $3.6B spend in technology and operations, Commonwealth Bank of Australia (CBA) sought to deliver better and more efficient end-to-end transparency to their business partners with a TBM program. TBM enabled CBA them to review the entire ecosystem of tools, data, and processes within its IT organization. This review is a critical component in delivering profitability goals and supporting the technology simplification strategy. As part of this review, Finance, IT, and Business units self-serve IT Financial reporting and cost analysis.

The Commonwealth Bank of Australia (CommBank) is Australia’s leading provider of integrated financial services, serving one out of every three households in the country. Founded in 1911, the company has grown to 48,000 employees and 15.9 million customers, with businesses now stretching across New Zealand, Asia, the United States, and the United Kingdom.

The Challenge

Like most financial institutions, technology is vital at CommBank. “Technology plays a key role in our strategy,” said Richard Spalding, CommBank General Manager of Program Delivery, Financial Services. “It plays a key role in our customer experiences, in how we manage risk, and in our overall profitability.”

Because of its importance to the business, CommBank spends $3.6 billion a year on technology and operations. And as the company moved forward, it became increasingly obvious that the Technology Finance group needed better transparency into how the company was spending that money to support the organization’s profitability goals and to help execute its technology simplification strategy.

“To make sure we were investing and spending in the right places, we needed transparency,” Spalding said. “We needed to understand where money was being spent, the drivers of that spend, and how it’s being consumed by the business.”

At the time, CommBank’s financial management practices and tools did not have the capability of providing that level of cost visibility, according to Spalding, nor did they focus on allocating costs based on value or consumption. Instead, the company treated technology operations spend as an expense where the goal was to manage it as a department cost and then apportion it equitably across the group.

“Everything was tied back to the source of funding,” he said. “There really wasn’t a focus on how that spend was actually being used to create value, either within the organization or for our customers.”

The Solution

CommBank needed to improve cost transparency and align technology spend with consumption. As a result, the company decided to implement Technology Business Management (TBM). This started with a phased approach beginning with the implementation of Apptio in 2018.

“The Apptio implementation covered 100% of our IT and operations costs,” said Spalding. “Key to our success was adopting the industry-standard TBM taxonomy and deploying Apptio fully out of the box. This deployment was up and running within the year with a focus on adapting the organization to the solution whilst delivering value.”

The Result

Increased Application Cost Transparency

Prior to implementing Apptio, CommBank had very limited understanding of their application costs. If the company’s executives wanted to know how much a certain application cost or how much a business process cost—for example, writing a home loan—the Technology Finance team struggled to provide an answer. “In our old environment, this was not possible,” said Geert Berlanger, General Manager of Transformation and Operations at CommBank. “There was no data lineage.”

After implementing Apptio, CommBank now has clear visibility into the total cost of over 2,000 applications as well as the company’s entire technology estate. “We now have a view of all our costs, across both run and change for all our applications,” Berlanger said.

Accelerated Progress Toward Technology Simplification

This increased transparency is helping CommBank’s technology leaders make better decisions, according to Berlanger, especially involving their Technology Simplification Initiative—a three-year effort to reduce application-driven costs by $100 million per year—where they are identifying and selecting applications to retire, replace, or modernize.

For example, the delivery of fully-burdened application TCO data within four months of CommBank’s Apptio rollout allowed the Technology team to rapidly identify specific applications and underlying value capture pools that informed the execution plan, enabling the company to track realized savings as it rationalizes its application portfolio.

In another example, the Technology team supporting CommBank’s Institutional business used the rich application TCO data to identify and track benefits associated with optimizing one of its applications, which resulted in $200,000 of demonstrated value months before going live.

Better Management of Technology Resources

Lack of cost transparency meant the Technology Finance team operated with limited information. And this made it difficult when working with their business counterparts to find areas to save money.

“One benefit of having better visibility is demand management,” said Berlanger. “With more visibility around the cost of an application, we can drill down and ask questions. This helps us explore why some environments are using so much compute or storage, for example, and find ways to simplify or reduce costs.”

Improved Linkage Between IT Costs and Business Services

Prior to implementing Apptio, CommBank’s business leaders did not have a good understanding of how their technology costs affected their business performance. And CommBank’s Technology Finance group did not have the data to explain it to them.

By using customized dashboards in Apptio, the Technology Finance team has been able to use cost transparency data to link technology and operations spend to business services and capabilities. For example, the team created a Business Capability TCO dashboard to give CommBank’s business leaders insight into variance analysis on technology spending. The dashboard is indexed to support business capabilities, such as pricing, distribution, and settlements.

In another example, the team established “cost-to-serve” dashboards. These enable CommBank’s business leaders to understand the technology and operations cost per trade or per commercial or home loan, which provides insight into whether technology spend is driving operating leverage for the business.

“It’s about translating the language of IT cost transparency into the language of business cost transparency,” said Spalding. And this has helped enhance the working relationship between CommBank’s business leaders and the Technology group, all for the betterment of the organization.

Advice to Others Just Beginning Their TBM Journey

Like so many others, CommBank’s Technology Finance leaders learned a lot during their TBM journey. And they are eager to pass along their learnings.

Spalding says he has three tips for those beginning their TBM journeys. “First, be very clear on the business problem or opportunity that you’re trying to solve,” he said. “I wouldn’t say just do it for the sake of doing it. In our case, we had a very clear business problem we wanted to solve, which was largely driven around transparency into our application portfolio. And then we anchored to that. If you do that, you’ll get much stronger organizational buy-in from your executives because they will know this is going to solve a business problem. In addition, this will provide a guiding star, if you will, during your execution of the project that will help inform the decisions you should be making along the way to make sure you’re achieving that outcome.”

Spalding’s second tip is to set up your TBM initiative as a proper project. “Don’t try to manage this as a side job,” he said. “Get a project manager, get the proper technical lead, work closely with your TBM solution provider, and get some good organizational change management resources assigned as well.”

Finally, Spalding advises organizations adopt a principle of keeping it as simple as possible. “Don’t reinvent the wheel,” he said. “And take advantage of the TBM standards and data models that already exist.”

To become a TBM Council member, please apply. If you would like more information about the TBM Council Awards, or this story, please contact us.

Founding date:
Employee count:
Sydney, Australia
30.16B AUD
Banking and Financial Services
Customer since:

Key to our success was adopting the industry-standard TBM taxonomy and re-deploying Apptio fully out of the box. This deployment was up and running within the year with a focus on adapting the organization to the solution whilst delivering value.

TBM Pacesetter

The winner in this category has demonstrated significant progress and value with TBM in a relatively short period of time. The winner demonstrates the ability to drive organizational changes of mindset and accountability for outcomes while implementing or enhancing TBM tools, data and processes. Value may be expressed in terms of reducing technology and/or business costs, accelerating or investing more in innovation, enabling the adoption of agile methodologies or public cloud services, or other goals that are important to the business.

Past Winners Include:

  • R+V
  • Micron
  • eBay
  • Transport for NSW

Red Hat built the world’s largest enterprise open-source software company, growing into a multi-billion-dollar firm before being acquired by IBM Corp. This open-source heritage often placed the value of technology in the product and engineering realm rather than with IT. Thus, not surprisingly, Red Hat’s TBM journey started with a new CFO wanting to know why IT costs were so high. Through the TBM framework and discipline, Red Hat IT successfully delivered cost transparency of all IT spend and then became a model for technology spend planning and forecasting. The IT team added the FinOps discipline to its capabilities and is now managing a broad hybrid cloud portfolio. However, TBM and FinOps have remained in the realm of IT only, until now. Red Hat’s current CIO, Jim Palermo, is driving TBM, FinOps, and Enterprise Agile Management across the company based on IT’s success and through the lens of value stream management. in this session, Jim will walk through Red Hat’s TBM journey and its current transformation to an operational business architecture framework built on value streams aligned to business outcomes.


  • Jim Palermo, VP, CIO, Red Hat

When the team at Tenet Healthcare made the decision to move towards a model that provided more accurate financial transparency, they looked to TBM practices and solutions. Join Paola Arbour, EVP and CIO at Tenet healthcare as she answers the question “why TBM?”, including what Tenet was trying to solve with the TBM Taxonomy, the effectiveness of their KPIs, and how building support and momentum across the entire company was critical to their successful TBM adoption. In this session, Paola will also share how Tenet continues to evolve their use of TBM, including for mergers, acquisitions, and divestiture activity, as well as segmenting cost structures.


  • Paola Arbour, EVP & CIO, Tenet Healthcare

Data driven decision making has been a key to longevity and delivering best in class service to State Farm’s customers over the past 100 years. Recently, State Farm decided to use a managed services company for the day-to-day support of their Infrastructure Services. Today’s technology leaders need to be able to make real-time, informed decisions to help ensure technology investments are meeting their customer’s needs, while continuing to support company long-term goals. Ashley Pettit, SVP & CIO at State Farm, will be joined by Randy McBeath, Enterprise Technology Executive, and Andy Moore, Technology Director, and together they will share how TBM aided in State Farm’s analysis and decision to move to a managed service provider.


  • Ashley Pettit, SVP & CIO, State Farm Insurance
  • Andy Moore, Technology Director, State Farm Insurance
  • Randy McBeath, Enterprise Technology Executive, State Farm Insurance

There is fast evolution occurring in the overall technology spend and value management market, with the advancements of cloud, Kubernetes, AI/ML, and other innovations. At the same time, we are seeing vast changes in the roles of the CIO, CFO, and business/digital leadership. In addition, TBM is intersecting with other disciplines and frameworks, such as Cloud FinOps, Agile engineering, and portfolio resource management. How is this affecting the TBM discipline, the TBM Council, and Apptio? For one, TBM is moving down market, becoming more accessible to all sizes and maturity of organizations, with easier ways to get started and a faster time to value. Cloud FinOps, meanwhile, is advancing and adding capabilities previously in TBM to the cloud cost management space. Join Apptio CEO Sunny Gupta as he explores the evolving TBM landscape and how he believes it will bring even greater opportunity and value to organizations worldwide.


  • Sunny Gupta, Co-Founder & CEO, Apptio

In today’s challenging economic times it is critical that CFOs, CIOs, and CTOs speak the same language when it comes to the value of technology spend. Having a single source of truth that everyone can feel confident in, track progress continuously throughout the year with shared insights, and analyzing options for resourcing and funding in order to reduce waste is where TBM deepens their partnership. In this discussion, join members of the TBM Council Board of Directors as they discuss the pivotal conversations and steps taken to collectively adopt TBM practices across the organization, including responding to naysayers and gaining allies.


  • George Maddaloni, EVP, CTO, Operations, Mastercard
  • Laura Walsh, CIO, Smithfield Foods
  • RJ Hazra, SVP & CFO, Technology & Security, Equifax
  • Moderated by Chad Doiran, Managing Director, Tech. Strategy & Advisory, Accenture

Fumbi Chima has led technology teams across multiple organizations throughout her esteemed career, including retail, manufacturing, media, and financial services. As a turnaround and high growth leader, Fumbi has leveraged TBM as a foundational practice to bring repeatable processes, purchasing guidelines, and cost/resource savings. Now at Boeing Employe Credit Union (BECU) serving more than 1.2 million members, Fumbi is driving their digital transformation with a clear vision and strategy to optimize their public-cloud with TBM and Cloud-FinOps, adopt a product model, and set the groundwork for future innovation and growth. Join Fumbi and Larry Blasko, President, Field Operations at Apptio, as they discuss the lessons Fumbi has learned along her TBM journey, and where this transformation leader sees the evolution of TBM taking the Technology industry.


  • Fumbi Chima, Chief Technology & Transformation Officer, BECU
  • Larry Blasko, President, Field Operations, Apptio

Technology leaders have a unique opportunity to transform their organizations into environmental champions with sustainable business practices. In this session, Neal Ramasamy, CIO at Cognizant and Phil Alfano, Field CTO at Apptio will share how TBM can be leveraged to achieve comprehensive visibility into real-time data-driven tracking to ensure company goals and actions are being met to achieve a sustainable future.


  • Neal Ramasamy, CIO, Cognizant
  • Phil Alfano, Field CTO, Apptio

For McGraw Hill, having a transparent framework that drives smart investment strategies and a common language across this 135-year-old company is critical. Known as one of the “big three” education publishers, McGraw Hill must stay ahead of their competitors with innovation and value delivery. Join Yuliya Oberman, Finance Director for McGraw Hill Education and Eileen Wade, General Manager of the TBM Council as they discuss how TBM is essential to McGraw Hill’s enterprise resource strategies and digital transformation journey.


  • Yuliya Oberman, Finance Director, McGraw Hill Education
  • Eileen Wade, General Manager, TBM Council

In this fireside chat, Matt Yanchyshyn, GM, AWS Marketplace & Partner Engineer at AWS will join incoming General Manager of the TBM Council, Jack Bischof, for a discussion on best practices for building successful TBM practices focused on cloud financial management. Including a deep dive into the nuances, learnings, and milestones that the world’s 9th largest insurance company is achieving on their Cloud FinOps journey.


  • Matt Yanchyshyn, GM, AWS Marketplace & Partner Engineering, AWS
  • Jack Bischof, Incoming General Manager, TBM Council

Hear from Ajay Patel, COO at Apptio and Zubin Irani, CEO at Cprime as they discuss how the intersection of TBM and enterprise agile planning is a critical strategy for organizations to adopt if they want to drive business growth more efficiently, in real-time, and keep up with the speed of change that today’s organizations face.


  • Ajay Patel, COO, Apptio
  • Zubin Irani, CEO, Cprime

Join Origin Energy’s Adrian Thivy, GM, Enterprise Technology Services, as he shares how TBM is creating complete confidence in their spend-to-value ratios across IT and the broader company, allowing a rapid response to the market forces driving significant pressure on the “cost to serve” customers. A finalist for the 2022 TBM Council Award for TBM Pacesetter, hear how their TBM practice was built in record time, including lessons learned as they developed business capabilities and managed a significant cloud migration and transformation.  

Session topics will include:  

  • Establishing a clear purpose and common goals that drive cross-functional understanding
  • Utilizing an adaptative governance framework to ensure accountability across all stakeholders 
  • Leveraging TBM and ServiceNow CSDM to deliver a transparent, flexible, and sustainable model in a shorter time frame
  • How bespoke logic has dramatically improved transparency of cost more than 90%

Presented by:

  • Adrian Thivy, GM, Enterprise Technology Services, Origin Energy 

Many organizations aspire for a cloud-native posture, however few have the time, resources and budget to transform into 100% public cloud operations. Equifax has broken through those barriers to modernize its infrastructure globally — driving faster innovation for customers, more business agility, and stronger cybersecurity. Hear from Manav Doshi, GM, Technology Solutions on how the Equifax team is rebuilding a century-old company, with a real-time approach to optimizing cost and revenue growth in the cloud.


Presented by:

  • Manav Doshi, GM, Technology Solutions, Equifax 

Transport for NSW is the winner of the 2022 TBM Council Award for TBM Pacesetter, which recognizes significant progress and value with TBM in a relatively short period of time. In this session, hear how the merger of Roads and Maritime Services (RMS) and Transport for New South Wales resulted in the fastest consolidation of TBM data, models, and reports into a single TBM practice. Hear from Poonam Kataria, Sr. Manager of TBM, as she shares how TBM is driving Transport’s three key strategic outcomes: connecting a customer’s whole life; successful places for communities; and enabling economic activity.

Session topics will include: 

  • Utilizing the TBM Taxonomy to align M&A practices and drive behavioural change 
  • How the right level of support sets the right culture and TBM processes
  • Driving change in the organization based on data-driven facts

Presented by: 

  • Poonam Kataria, Sr. Manager, TBM, Transport for NSW 

Discuss how TBM supports visibility of investments across the enterprise to support setting best practices and standards for managing the impact of environmental, societal, and governance strategies by IT departments and organizations.

The TBM Council Standards Committee has built out TBM integration models with other IT disciplines, including Enterprise Agile and Product Thinking, as well as ServiceNow CSDM. Current findings will be shared to drive group discussion, experience, and feedback. 

Public cloud strategies are often embraced for the promise of rapid scalability, on-demand agility, and best-in-class security, resiliency, and features. However, public cloud adoption presents significant financial challenges that, when not addressed, inhibit any firm’s ability to exploit the promises of public cloud.  

To address these challenges, customers need to simultaneously resolve current inefficiencies and build capability to ensure avoidance of waste in the long term.  

In this session we discuss a detailed framework combining TBM-Cloud with FinOps, allowing customers to understand how to implement a program to overcome these challenges and financially succeed in the cloud. 

Session discussion topics include: 

  • A detailed view of the activities required to implement a TBM-Cloud with FinOps Journey 
  • Detail the flow of information required for each task 
  • Provide guidance on which activities should be performed when


Presented by:

  • Nathan Besh, TBM-Cloud Evangelist, TBM Council 

Project to Product Transition

Outcome-focused development via agile transformation

For organizations looking to transition from projects to products, TBM can help organize resources and outcomes into value streams – the specific sets of activities that align to business outcomes.

Accelerating Cloud Adoption

Drive measurable outcomes with your cloud strategy

For organizations trying to accelerate their cloud journey, TBM provides a way to map a plan and measure the outcomes from cloud migration to cloud cost management to cloud optimization.

Morning Sessions

A look back at 10 years of TBM leadership and community building.


  • Ashley Pettit, SVP & CIO, State Farm Insurance

Introduced more than 10 years ago, Technology Business Management (TBM) was born out of the need for CIOs to have a management system to drive their technology operating strategy. At its core, the TBM discipline gives visibility into technology spend to provide common ground and enable a collaborative partnership across teams for prioritizing resources and achieving business outcomes. In this session, the TBM Council Standards Committee Chair, Atticus Tyson will share how over the past few years TBM has evolved to ensure leaders are able to accelerate digital initiatives, embrace the cloud, and communicate today’s complex technology landscape. TBM enables organizations to frequently and quickly evaluate projects, platforms, and investments to address the needs of the modern enterprise.


  • Atticus Tysen, SVP Product Development, Chief Information Security & Fraud Prevention Officer, Intuit

Atticus Tyson and Phil Alfano will guide the group through an executive discussion to capture “What is digital success to you?”. Is it how your organization creates new business capabilities? The elimination of legacy processes and systems? Funding innovation? Or all of the above as long as it drives an improved customer experience? Discuss with your table mates, as an overall group, and capture learnings and takeaways to bring back to your own team.


  • Atticus Tyson, SVP Product Development, Chief Information Security & Fraud Prevention Officer, Intuit
  • Phil Alfano, Field CTO, Apptio

How does a 170-year-old financial institution deliver a new, fully modernized technology strategy while supporting 24×7 service to their customers across a multitude of platforms, including point-of-sale, mobile, and web services? Mike Brady, Nicole Holmes, and Chad Schmidt will share how at Wells Fargo, they are creating a Technology Infrastructure team founded in the TBM discipline and responsible for aligning with internal partners to adopt an automation first approach for accelerating the delivery of services and deploying enhancements at speed. All while remaining compliant, secure, and agile.


  • Mike Brady, EVP, Technology Infrastructure, Wells Fargo
  • Nicole Holmes, EVP, CFO for Technology, Wells Fargo
  • Chad Schmidt, SVP, Technology Finance Modernization, Wells Fargo

It’s been two years since the World Health Organization declared Covid-19 a global pandemic. To re-imagine employee and customer experiences, every company was forced to speed up their shift to digital from multi-year project plans to instead creating, executing, and delivering new business models in a matter of weeks. As we emerge from this crisis, we recognize this shift is not slowing down but exponentially increasing as businesses continue to respond to societal expectations of anytime, anywhere. In this session, Sunny Gupta will share how the companies best positioned to quickly respond to changing market conditions and hyper competition have a holistic view of their technology spend so they can be agile in their investment decisions, use the cloud as a competitive advantage, and align their resources to product delivery models and continuously measure value.


  • Sunny Gupta, Co-Founder & CEO, Apptio

Afternoon Sessions

Spinning up a cloud-native posture is a desired strategy for many organizations, however few have the time, resources, and budget to achieve 100% public cloud operations. In 2018, Equifax set a 5-year goal to achieve this, striving to provide their customers with faster innovation, more flexible business agility, and stronger cybersecurity. Hear from RJ Hazra, SVP & CFO, Technology on the lessons and successes the Equifax team has found along their journey, and what remains as they cross into their final year of their company-wide digital transformation.


  • RJ Hazra, SVP & CFO, Technology & Security, Equifax

The cloud is a significant shift in computing and companies need to get maximum value from it. FinOps is the evolving cloud financial management practice that empowers organizations to track and maximize cloud spend and enable tech, finance, and business teams to collaborate on data-driven spending decisions. In this talk, J.R. Storment, Executive Director of the FinOps Foundation will explore the intersection between TBM and the FinOps practice and the benefits achieved. Session discussion topics include: 

  • Creating a culture of ownership over cloud usage and spend
  • The most important challenges to tackle for delivering products faster while gaining financial control and predictability
  • FinOps organization structures in large and small organizations from the State of FinOps 2022 report



    • J.R. Storment, Executive Director, FinOps Foundation

In this engaging conversation, executive leaders will share both the challenges and best practices realized on their journey to embrace product-based innovation.

Session discussion topics include:

  • Achieving results as you shift from a projects-to-products innovation model
  • Maximizing CIO/CFO partnerships in this new paradigm
  • Building your innovation strategy around value streams, stable teams, and a high degree of customer centricity


  • John Wilson, VP, IT Costing & Performance Management, MetLife
  • Kaarina Bourquin, Director, Strategy & Portfolio Operations & Technology, The Standard
  • Moderated by Toyan Espeut, Chief Customer Officer, Apptio

Session abstract coming soon


    • Brendan Kinkade, VP, Build ISV, Technology & Hybrid Cloud, IBM
    • Moderated by Phil Alfano, Field CTO, Apptio Foundation

TBM empowers hundreds of decision makers with the facts they need to execute a digital strategy faster, without bias, and in alignment across business units. This includes technology consumers, service and application owners, LOB CIOs, enterprise PMOs, compliance leaders, budget coordinators, and many more. What are the fundamentals of developing and executing a successful TBM practice? In this session, experienced practitioners will share the lessons and foundations they’ve learned delivering business value for their organizations with TBM.

Session discussion topics include:

  • Fundamentals of proper support and sponsorship across key stakeholders
  • Demonstrating how and why TBM is core to strategy and a digital operating model
  • Developing, educating, and enabling your core team
  • Implementing or enhancing the necessary TBM processes


    • Jeri Koester, CIO, Marshfield Clinic Health System
    • Latrise Brissett, Managing Director, Global IT, Accenture
    • Leslie Scott, VP & CIO, IT Enterprise Services, Stanley Black & Decker
    • Moderated by Jason Byrd, Managing Director, Technology Strategy & Advisory, Accenture