Markerstudy Enables Single View of IT Spend across Multiple Functions
The ClearCost consultants have significant, real-world, operational IT experience, so they could quickly understand our structure, pain points, and requirements whilst identifying any gaps. They also understood that the goalposts in IT and the business often move, and even the best project timetable needs to flex at times. We were continually learning about ITFM throughout the project, and ClearCost’s flexible approach helped us achieve exactly what we needed.
— Eoin Grace,
Head of IT Business Management, Markerstudy
Discover how a merging of IT finances, from multiple lines of business, enabled unified decision-making for Markerstudy.
Established in 2001, Markerstudy Group is an innovative and entrepreneurial company specialising in motor insurance services and associated claims handling. It is primarily known for its insurance brands, Markerstudy Insurance Company Limited and Zenith Insurance.
Multiple lines of business were causing chaos tracking IT spend.
The primary challenge for Markerstudy was consolidating its IT finances from multiple lines of business. Following recent acquisitions, it was faced with the unique challenge of unifying multiple IT functions, each with their own asset base, staff, systems, and financial budgets. Markerstudy decided to create a single view of IT spend, in order to understand which business areas were driving which portion of the investment and to report back to business heads with service-based information.
Initially, our client compiled several complex spreadsheets and devised cost algorithms in an effort to explain to department managers how their IT needs impacted the budget. However, it soon became apparent that these labour-intensive spreadsheets were unsustainable, as the tasks to maintain them required extensive Excel expertise. The need to track actual spend against the budgeted spend complicated this process further.
To provide Markerstudy with a robust ITFM solution enabling a single Services’ view of IT spend.
With an IT Financial Management software solution, Markerstudy Group aimed to achieve the following objectives:
• Consolidate IT finances from multiple business lines
• Generate a single Services’ view of IT spend
• Eliminate the use of inefficient spreadsheets
• Identify which areas of the business drive specific portions of the budget
• Report the spend to business leaders in terms of IT services delivered
The Head of IT Business Management and team required a multi-user interface in order to share administration responsibilities.
We implemented our solution with considerable flexibility in order to facilitate:
• Iterations of the design
• Changes to asset data
• Revised budget requirements
• Relocation of part of the IT team into the business
Markerstudy achieved complete unification across multiple IT functions, enabling a single view of IT spend.
• Consolidated IT finances from multiple business lines
• Identified which areas of business drive specific portions of the budget
• Powerful reporting capabilities to business leaders in terms of IT services delivered
Today, Markerstudy is better positioned with a unified IT Financial Management solution in place and is therefore in the ideal position to optimise IT investments, retire or restructure high-cost services, and focus on innovation.