Insurance Provider Projects $75 Million Gain in Business Value from Asset Management Transformation

Written by Michael Henderson | 28/08/2024 12:15:02 PM

In 2019, this leading insurance provider began a multi-year Service Asset and Configuration Management (SACM) journey to achieve cost optimisation along with process and technology improvements.

Project Snapshot

$75mm+

projected gain in business value

$19mm+

estimated gain in tangible benefits

400+

business services mapped

Client size: 6,500

Client industry: Insurance

Client location: United States

Key Challenges

	Lack of understanding and visibility into IT infrastructure.
	Heavy reliance on tribal knowledge resulted in longer change management processes and increased costs due to underutilised resources.
	Lack of financial and risk intelligence stemming from disparate, manual processes.

Our Solution

Thirdera, a Cognizant company, provided highly specialised expertise and thought leadership across focused roles to facilitate the client's asset and configuration management maturation. Guided by industry best practice recommendations, we aimed to update their processes and controls to improve service, optimise cost, and reduce risk.

ServiceNow Hardware Asset Management
Phased maturation that included centralisation of all in-scope IT assets and configuration items (CIs), removal of technical debt, and model normalisation.

ServiceNow Software Asset Management

Phased maturation that included the implementation of SAM Pro, a one-way Ariba integration, and the expansion of Software Publisher.

ServiceNow Configuration Management

Phased maturation that included the operationalisation of ServiceNow Service Mapping for 400+ scoped services and data normalisation and alignment to a Common Service Data Model (CSDM).

The Result

	Increase in strategic potential Centralised data has facilitated strategic and operational decision-making, which consequently has generated a projected net business value gain.
	Enhanced cybersecurity posture Appropriate data management processes and reporting have reduced risk occurrences and increased confidence in data security and privacy controls.
	More consistent and reliable processes Ongoing process optimisation has improved service availability, incident resolution times, change management processes, and communication across departments.

About Thirdera, a Cognizant company

Thirdera, a Cognizant company, is an Elite-level ServiceNow partner, enabling customers to maximise the value of the ServiceNow platform through workflow-enabled services and solutions. Founded in 2021 and acquired by Cognizant in 2024, Thirdera, a Cognizant company, is one of the largest and most credentialed ServiceNow partners globally. We offer world-class guidance to help businesses accelerate growth and productivity. With expertise and capabilities spanning experience design, process optimisation, and AI-accelerated solutions, we are ushering in the next era of transformation, automation, and partner expectations.
Visit www.thirdera.com for more information.

View full post