4 Ways Corporate Planning Tools Prevent Best-in-Class IT Budgeting and Forecasting

IT organizations at high performing companies are backed by world-class IT budgeting and forecasting processes. The financial teams behind these processes achieve tremendous budgeting and forecasting performance: maintaining budget and forecast accuracy within three percent variance; completing monthly close cycles within two days; and expanding their monthly forecast process beyond two rolling years. They also...

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How AmFam Reduced TCO Analysis from Weeks to an Hour

In 2015, American Family Insurance (AmFam) launched a strategic initiative partnering Corporate Finance and Information Services divisions to improve IT intelligence and deliver better IT investment decisions. At the time, the AmFam team was logging extensive overtime, working nights and weekends to manage information requests from business partners and perform critical total cost of ownership...

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Key #5 to a Winning ITFM Implementation: Balance of Precision & Simplicity

An ITFM implementation can have its challenges, for example: accepting your data is “good enough” to get started and other obstacles including “precision traps.” Many ITFM implementations are plagued with these efforts to achieve an attractive, but unnecessarily high degree of precision, which adds difficulty to the project without significant value. The litmus test for...

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Key #4 to ITFM Implementation Success: “Good Enough” Data

Purchasing and implementing an ITFM tool, along with building a sustainable ITFM program, can feel like an overwhelming feat (especially if you feel your ITFM data isn’t “good enough”). Establishing a project plan template and tackling one step at a time can make your ITFM implementation possible. If you haven’t been following this blog series from...

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Key #2 to ITFM Implementation Success: Strategic and Tactical Alignment

Successful ITFM implementation requires resources, communication, organization, and strategic and tactical alignment. In the last blog, we discussed the importance of creating a cross-functional steering committee as the first step toward success. Once the committee has been formed with pivotal executive sponsors and stakeholders, the next step is strategic and tactical alignment. Ensure Strategic and...

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