LAS VEGAS, Nov. 8, 2017 /PRNewswire/ -- The Technology Business Management (TBM) Council, a nonprofit organization dedicated to developing and promoting best practices for managing IT like a business, today announced American Express, Exelon Corporation, Cisco, SunTrust Bank, Caesars Entertainment and Micron Technology as winners of the fifth-annual TBM Awards. Each organization was recognized during an awards gala of industry peers at The Wynn in Las Vegas last night during TBM Conference 2017.
The TBM Awards honor IT and finance leaders for their ingenuity, creativity and contribution to the TBM discipline. The award winners are professionals who drive value to their organizations and set a new standard for TBM success. These are professionals who have a profound impact on their organizations by driving operational excellence, business innovation, digital transformation, TBM vision and best practices.
"TBM is a discipline that is always evolving because of new technologies and the need to fund innovation and digital initiatives," said Chris Pick, President of the TBM Council. "These professionals contribute to the art and science of TBM by pushing its boundaries and educating others. They are the trailblazers, helping define the future of why and how to manage the business of IT."
More than 70 nominations were submitted from organizations of all sizes and industries. The nominees all took an in-depth KPMG Proficiency Assessment, which narrowed the applicant pool. The TBM Awards Premier Sponsor KPMG then interviewed all remaining nominees and the selection committee, comprised of industry-leading executives, consultants and academics, identified semi-finalists and winners. The committee selected the winners based on how they leveraged TBM to better understand and communicate IT costs, plan efficiently, optimize investments and transform their IT businesses.
Winners of the 2017 TBM Council Awards are:
BUSINESS INNOVATION AWARD: Recognizes technology organizations that have applied technology business data and process to change conversations from cost to value, shape demand, guide investment and drive innovation.
Winner: SunTrust Bank
SunTrust is a purpose-driven organization focused on financial well-being. The financial services organization uses TBM as a foundational element to align IT to products and services and to help penetrate the digital ecosystems where clients interact with financial services. The use of TBM has yielded 16 percent OpEx reduction through application retirement and more than 500 server decommissions and migrations. This has helped the IT team shift run-the-business to change-the-business costs from 80/20 to 50/50, at the same time changing the dialogue with the business and securing executive level sponsorship and buy-in. Today, executives use TBM data to make strategic business decisions, fund next generation technology strategy (including cloud), and partner with the business to optimize spend.
IT OPTIMIZATION AWARD: Recognizes the innovative, strategic and bold use of data to drive decisions for infrastructure efficiency, agility, quality, performance and business value.
Winner: Exelon Corporation
As Exelon has grown in size and scope to become a dominant force in energy delivery across the US, its IT organization has had to keep pace. Exelon IT has used cost transparency to reorganize and retool into a shared services organization serving the company's nationwide network of utilities with backbone IT services and technologies at a substantially reduced cost.
IT FINANCIAL LEADERSHIP AWARD: Recognizes today's corporate finance teams (with IT responsibilities) and/or technology controllers who no longer merely account for IT spend, but drive an IT financial strategy and capability that matches the new demands of the IT organization.
Winner: American Express
American Express Technology has taken a leap of faith, collaborating with corporate leadership and leveraging strong financial management principles to achieve impressive results. What began as a strategy to streamline chargebacks and forecasting has become a holistic approach to IT cost transparency that enables product owners to own their P&L and Technology to drive an agile transformation. Leveraging TBM, Technology has reduced expenses by 4 percent CAGR over the past 5 years, at a time when the company has continued to grow. American Express accomplished this while delivering equivalent or better capacity and capabilities and positively impacting topline performance in areas critical to growth.
IT SERVICES TRANSFORMATION AWARD: Recognizes IT organizations who have successfully applied technology business data and process to drive transformation in cloud, on-premises and/or hybrid services strategy, design or delivery.
Winner: Cisco Systems
For over a decade, Cisco IT has applied business data to transform IT services strategy and delivery, garnering the support of C-suite executives and inspiring supply chain and HR teams to follow a new model for understanding costs holistically. Today, TBM and Apptio are embedded into the organization, providing a mature framework for enabling new business capabilities, delivering IT value with speed, and empowering decision-making beyond the IT organization. Speaking a common language drives shared goals and shared wins between IT and business owners at Cisco, including a reduction of the application portfolio by 40 percent and a 35 percent reduced data center footprint.
STRATEGY & PLANNING EXCELLENCE AWARD: Recognizes IT leaders who have found a way to bridge the gap between IT resources and the business goals to ensure IT is planning in accordance with strategic business imperatives.
Winner: Caesars Entertainment
Emerging from a voluntary reorganization, Caesars is poised for growth. The global casino-entertainment leader has moved from "keeping the lights on" to fueling expansion, initiating significant organizational changes and a revamp of all major technology systems. Getting Apptio up and running in front of all that change has helped the IT team build the trust needed to move forward with large initiatives—replacing key platforms in Finance, HR, Sales, and Marketing and exploring innovations to attract new business from millennial customers. Automation of manual processes has increased the rate and fidelity of reporting, reduced the IT budget planning process from six months to four weeks, and helped improve accountability in the approval process for these initiatives.
TBM PACESETTER AWARD: Recognizes teams who have made a significant impact to their business and their industry with TBM in a short period of time.
Winner: Micron Technology
Micron hired their first CIO in 2015, who immediately established a TBM Office and began implementing an out-of-the-box reporting process with strong support from IT leadership. Today, the IT finance team leverages self-service automation to simplify quarterly budgeting / forecasting and the annual budgeting cycle, offering new visibility into budget line items for cost center managers (who previously had no detail). As a result, budget owners are more accountable for accurate forecasts and budget variances. This has helped the team track much closer to target and reduce annual underspend on the CapEx budget to zero.
TBM Council membership is open to any qualified IT, finance or business leader and TBM practitioners who meet the applicable membership standards. For more information or to join the TBM Council, please visit www.TBMCouncil.org.
About the TBM Council
Founded in 2012 the Technology Business Management (TBM) Council is a nonprofit organization governed by an independent board of business technology leaders from a diverse group of the world's most innovative companies like AIG, Aon, Cisco Systems, DuPont, ExxonMobil, First American, Microsoft, Nike, and more. The Council is focused on developing a definitive framework for managing the business of IT by establishing standards and providing ongoing collaboration and education opportunities.
Sr Communications Manager, TBM Council
SOURCE Technology Business Management (TBM) Council