ING deploys Business Engine's Rapid Portfolio Solution
06 December 2004 | 1336 views | 0
Source: Business Engine
Business Engine, a leader in application software solutions for running the business of IT, has announced the availability of its Rapid Portfolio Solution.
Delivered onsite by experienced Business Engine consultants, the software-services package provides a fast and cost-effective solution for Global 2000 organisations to optimise their IT portfolio against risk and return, and ensure strategic business and technology alignment.
Portfolio Optimisation is the process of analysing the technology portfolio and managing the assets within it to obtain the highest return given a specified level of risk. Business Engine's Rapid Portfolio Solution allows the enterprise, presented with a choice of portfolio items, to hold the appropriate amount of weighting of each item to achieve the highest returns at a desired level of risk.
ING, the international Financial Services group, recently completed an exercise to realign its IT portfolio using Business Engine's Rapid Portfolio Solution. "Within three weeks, the Rapid Portfolio Solution gave ING the insight they needed to make the right decisions," said Mark Strauch, COO of Business Engine.
As a result of the insight gained from the Rapid Portfolio Solution, IT organisations have found that demand was, in some cases, 2.5X greater than supply. "This kind of data point allows decision-makers to proactively adjust the IT portfolio to justify IT strategy changes - whether it be to outsource, expand hiring plans, cancel projects and reallocate precious IT budget pounds," added Strauch.
Business Engine, which counts major Wall Street firms as well as leaders in manufacturing, retail and aerospace among its customers, notes that it continues to see IT organisations in all industries struggling under a strained relationship between IT and the business. This primarily exists due to poor or non-existent alignment with business goals.
"Businesses are struggling to prove the value of IT," added Strauch. "With this fast and high-value solution, we help them realign their portfolio, demonstrate real and immediate value to business sponsors, and create an actionable strategy for continued alignment with the business - all within three weeks."
How Does It Work?
Leveraging a proprietary portfolio optimisation tool, a Business Engine consultant works with key stakeholders within IT organisations to define and prioritise business drivers, rank individual programs, identify resource and cost constraints, score the portfolio against these risks, and select a candidate portfolio that strategically aligns with the company's most important business drivers.
Organisations receive a deliverable providing documented objectives, measurement criteria and relative weighting providing an optimised portfolio that is "doable" within enterprise constraints. By achieving material alignment within three weeks, the organisation is prepared for recurring, robust portfolio selection and an enhanced alignment process. This has the added benefit of increased credibility with business units, shared accountability with business partners as well as increased customer satisfaction.