Merrill Lynch has standardised on Business Engine Network (The BEN) to manage and control its corporate technology operations worldwide.
The bank will roll out the software to 8000 IT staff and contractors allowing them to track time and expenses, manage tasks and deliverables, share critical documents and collaborate on projects.
The BEN's new budget module - introduced earlier this month with release 4.0 of the package - will provide a real-time view of budget components, enabling users to continually balance IT asset portfolios between value, risk and cost.
Marvin Balliet, CFO of Merrill Lynch's technology group, says: "The Business Engine Network helps us monitor the financial health of our technology projects - at any time of day or night, from anywhere in the world - to ensure we are on track and have the right people working on each project...That kind of transparency in a global organisation is invaluable for strong decision making."