Enterprise Application Portfolio Analysis for one of the leading Insurance & financial services companies in the United States
The client is a leading insurance and financial services provider in the US with specialized retirement and annuity related products.
In an effort to reduce costs and overhead to remain competitive in the sector, client had embarked on various IT transformation projects over the years. However, different lines of business had created their own specific IT transformation roadmaps in silos, missing integrated views and the enterprise level and resulting in additional redundancies and duplication of effort.
Client embarked on journey of implementing a significant IT simplification strategy across 4 LOBs (Annuity, Corporate, Insurance, Retirement covering ~600+ Apps & 45 projects)
- Client wanted independent expert’s assessment on each LOBs simplification journey in integrated views at enterprise level.
- Evaluation of the simplification initiatives roadmap for alignment with enterprise tech standards, guiding principles, and alignment to architecture guiding principle
Infosys partnered with the client in the highly complex initiative, using its proven methodology and SMART EA Framework to customize a portfolio assessment across 4 lines of business, 600+ applications and 45 projects:
- Balanced Top-Down (business capabilities to IT assets) and Bottom-Up (IT Apps to business needs) approach using Infosys’ SMART framework and AHP based analysis models
- Relevant insights for relevant stakeholders: Provides different level of analysis from application to portfolio to enterprise level provided much needed insights across application owners, portfolio heads and CxO/Chief Architect level to quickly make decisions on IT spend and investment they were unable to do before.
- Developed enterprise technology portfolio standards and IT reference architecture guidelines and principles
- Delivered business capability assessment and mapped applications to business capabilities, technology alignment and created 3 year roadmap
- Recommended to be enterprise portfolio management processes, tools, data and governance structures based on analysis of as is capabilities and gaps in portfolio management and compliance
- Determined readiness levels and priorities to execute program in 4 waves for line of business
Infosys delivered a consolidated portfolio strategy assessment and roadmap system that enabled the client to align IT with strategic business goals. Our unique approach enabled client to accomplish strategy, assessment and roadmaps for simplification and cost savings it had been unable to accomplish on its own.
- Client now has integrated views of portfolio at enterprise level to inform current and future decision-making
- Reduced total cost of ownership across application landscape by approximately 33% with approximately 50% reduction in mainframe applications by 2019
- Identified 12 major categories of over 200 opportunities to further reduce their non-strategic technology stack
- Improved governance and compliance by approximately 36% reduction in non-compliant applications