OneAmerica Financial Partners operates under a divisional alignment. IT is consolidated at the corporate level, but in some cases each business unit uses a different system to perform the same functions, such as document management and policy administration. Since I arrived in 2010, one of my goals has been to reduce complexity, which allows greater responsiveness to business needs and cuts costs.
We recently engaged a consulting group to perform a portfolio rationalization study that will help us develop a list of high-value opportunities for improved functionality to present to our executive council as part of our 2013 plan. The ultimate goal is a multiyear initiative that will generate savings in the initial phase, and then use those savings to fund future modernization efforts.
One of the big challenges will be balancing our modernization efforts with our work on initiatives that support sales, marketing and operations, and improved enterprise functionality, such as consolidating data for better decisions through business intelligence and analytics. Historically, these modernization efforts have been squeezed out, and we need to find a better balance between these competing priorities.
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