Chicago turned on the warmth in the early part of the week for the annual pilgrimage of many IT Finance executives attending ITFM Week April 24-26! Possibly the largest ITFM conference for IQPC, it was attended by a wide array of roles within a broad range of organizations. With the diverse audience came an excellent range of sessions to attend, providing insights and learnings to the different IT Finance challenges and solutions.
ITFM Week’s attendees ranged from CIOs and VPs of IT Finance to Finance Analysts and EPMO Heads, and more. They came from different backgrounds, including corporate, education, and government. Because of this, we experienced unique perspectives on IT Finance. Continue reading to uncover some of the major themes presented at the conference.
Major Themes from ITFM Week 2017
- Visualizing the Value
Keller Denechaud from Capital One presented a vision for the future of how value will be conveyed to consumers of Enterprise IT Services. Described by Keller as ‘Super Mario Bros’ looking, she wasn’t quite ready to share actual Virtual Reality visualizations yet, but spoke articulately about the value Capital One had derived internally from pushing the visualization envelope. One example she provided was a dedicated internal portal that users can ‘self-serve’ on, and even manipulate dashboards.
Moving away from PowerPoint with her CEO and the rest of the C-Suite was another hurdle, and that took a little convincing, as we all know how much PowerPoint is the preferred Enterprise reporting template!
Perhaps the most important message from Keller’s session was about ensuring that you, the IT Finance team, are creating the ‘documentary’ that helps explain the relationship between business activity and IT spend.
- IT Forecasting & Planning
This hot topic was the basis of a jointly-presented clinic by a customer and vendor, a brand new feature of the conference! Jason Coffel from Choice Hotels, together with Nicus Software delivered a very informative and practical session, including a detailed explanation of how Choice Hotels had been managing F&P. This covered what they did pre-Nicus, and how they came to manage F&P with the software.
The biggest takeaway from this clinic with Jason & Nicus was the understanding that while Forecasting and Planning is a beast to take on, it certainly is tamable.
- Integrating Service Delivery & Service Costing
Led by Rama Dhuwaraha, Associate Vice Chancellor and Chief Information Officer at University of North TexasOne, this session was enlightening. One of the best examples of leveraging IT costing to provide insight into the value of IT, his presentation showcased simple, yet powerful service definition processes.
By aligning both the preferred architecture of IaaS, DBaaS, and PaaS with the costing and chargeback model, this presentation demonstrated how IT value could be quantified. The alignment provided IT with a set of standards to better supply the business with improved infrastructure, while keeping a close eye on cost. Ultimately, the presentation reiterates just how crucial it is to have completed effective service definition in order to achieve successful service costing.
Other thought-provoking sessions from the conference were delivered by Dell, BNY Mellon, McGraw-Hill Education, and Federal Reserve Bank. There was a very candid, insightful panel discussion with perspectives from Farmers Insurance, Blue Cross Blue Shield of IL, MT, NM, OK, TX, Liberty Mutual, and Capital One.
Proven IT Finance’s Involvement with ITFM Week 2017
In addition, Proven IT Finance founding partner Bill Miller led a workshop that evaluated the chargeback versus showback journey. If you’d like to learn more about how to overcome internal resistance, shatter misconceptions, and more, get the slides from his presentation here.