As one of the largest insurers in the United States, the company has a large IT organization supporting its diverse portfolio of products and services, with an annual budget exceeding $700 million a year.
The company’s budget consists of two parts: an annual run budget to support ongoing operational expenses, and a multi-year investment budget to fund project work for strategic initiatives.
The IT leadership team believed that improving the company’s budgeting and planning process could increase IT value and drive better business outcomes. Their objective was to shorten their annual run and grow planning cycles and conduct forecasting on a monthly basis, unifying legacy processes and leveraging multiple vendor teams.