BELLEVUE, Wash., Nov. 20, 2019 /PRNewswire/ -- The Technology Business Management (TBM) Council, a nonprofit organization dedicated to developing and promoting best practices for managing IT like a business, and Apptio, Inc., last week announced Credit Suisse, Department of Veterans Affairs, First Citizens Bank, Goldman Sachs, HERE Technologies, Pearson Education, Pepsi Co. and State Farm as winners of the seventh annual TBM Council awards.
The TBM Council awards honor the most successful leaders and teams in the global technology and finance community for driving tangible business value through technology business management. The 2019 award categories are built around the six pillars of technology business management, with one winner for each category. Additional winners are honored in "Overall TBM Excellence" and "Innovator of the Year" categories. Each nomination was evaluated by a panel of executive level judges.
Winners of the 2019 TBM Council awards are:
Innovator of the Year: Recognized for implementing forward-thinking or creative strategy to drive impactful business solutions.
When Credit Suisse began their Apptio journey in 2017, they were grappling with two issues – capacity and investment in innovation and improving relationships with the business. By leveraging Apptio and TBM, Credit Suisse has been able to address both issues and transform their technology leaders into service leaders through data and insights.
Business Value Realization Excellence: Recognized for a well-executed showback / chargeback implementation. This includes the ability to shape demand for IT services and deepen relationships with the business units by clearly articulating their cost structure and offering more cost-effective alternatives to meet their business needs.
State Farm has done an exemplary job of building business engagement between IT and finance—a first in the company's 100-year history. TBM enables State Farm's digital transformation and cost reduction initiatives on a scale that is visible to the CEO, CFO and CIO.
Cloud & Hybrid Excellence: Recognized for optimizing cloud and hybrid infrastructure and making informed modernization and migration decisions. This is demonstrated through cloud cost optimization, effective infrastructure modernization and acceleration of cloud migration projects.
Pearson combined Apptio's Cost Transparency and Cloud Cost Management solutions to develop what they believe to be the world's first Cloud Reserve Instance balance sheet and P&L value calculator. Pearson is aggressively shifting away from on-prem delivery to a cloud-only strategy to deliver education services to their customers. The clarity Apptio provides enables Pearson to gain visibility into cost, accurately recharge that cost, and create a single source of truth for their costs.
Vendor & Supplier Excellence: Recognized for optimizing vendor and supplier relationships. This is demonstrated through controlled costs, cost avoidance and effective vendor governance.
Pepsi has been using TBM together with configuration to automatically reconcile multiple vendor invoices, leading to rationalization and identification of misbilling, leading to multi-million-dollar savings across the organization. These high savings have led to further growth of TBM beyond core IT functions to vendor management.
Application & Services Excellence: Recognized for optimizing the application, service and product portfolio. This is demonstrated through application rationalization and lean portfolio management.
HERE has utilized Apptio as a source of IT business management for 50 reports that are disseminated amongst more than 250 users. Since implementing Apptio and TBM, HERE has reduced business unit spend from 21 to 5 percent in less than a year, and reduced their vendor spend by 15 percent.
Financial Management Excellence: Recognized for effective management of the IT budget with multiple views of IT spend. This is demonstrated through the reduction of spend to plan variance and an increase in forecasting cadence.
First Citizens Bank has used TBM to streamline their budgeting and forecasting process to have access to data in real time. By using TBM for both processes, they consolidated contracts, saving more than $1M in one instance. This transparency has streamlined budget reviews to a single CIO meeting rather than three.
Investment Planning Excellence: Recognized for effective management of the project portfolio for waterfall or agile methods. This is demonstrated through run and build cost management.
- Winner – Goldman Sachs
With TBM, Goldman Sachs optimized HC reporting, open role management, capacity management and financial reporting to save the team 10 hours on a weekly basis, allotting time for accurate financial reporting. The project management workflow also has enabled weekly reporting for business and engineering leaders on their teams. Their TBM practice is now the single source of truth when it comes to headcount and is used by various internal stakeholders.
Overall TBM Excellence: Recognized for showing excellence and driving results across all six TBM pillars.
The Department of Veterans Affairs (VA) has become the industry leader in Federal TBM Outcomes. The VA implemented an Executive Dashboard to allow the CIO and key IT leaders to easily view and manage key IT metrics. Through TBM, the VA can prove how IT spend aligns with programs and projects to justify funding. Additionally, the VA can now track cloud costs for the first time. By finding savings with TBM, the VA can better support veterans.
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 Technology Business Management (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 Aflac, State Farm, Tyson, Intuit, First American 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.
© 2019 Technology Business Management Council, Ltd. Trademarks and Logos. Trademarks and logos are the property of their respective owners.
Apptio® fuels digital business transformation. Technology leaders use Apptio's machine learning to analyze and plan their technology spend so they can invest in products that increase the speed of business and deliver innovation. With Apptio, they translate raw costs, utilization, and billing data into business-centric views that help their organization optimize spending, plan strategically, and drive digital strategy that funds growth of the business. Technology leaders can gather instant recommendations that result in 30% saving on cloud services. For more information, please visit www.Apptio.com.
© 2019 Apptio, Inc. All rights reserved. Trademarks and logos are the property of their respective owners.
SOURCE Technology Business Management (TBM) Council; Apptio