Value Metrics and Business/IT Alignment
Report Summary
Value Metrics and Business/IT Alignment
Business value metrics are a critical business/IT alignment tool for insurer CIOs, and their use is increasingly widespread. Unlike cost metrics or IT performance metrics like on-time/on-budget ratios, business value metrics demonstrate the direct impact of IT spending and investments on the business.
February 2014 - While there may be limited consensus on the best specific metrics to use, more than 90% of insurer CIOs report using at least one business value metric consistently. Tracking more business value metrics is correlated with higher levels of business/IT alignment.
In addition to embracing value metrics, insurer CIOs are driving improved business/IT alignment through changing organizational structures, changing processes, and increasing levels of communication and stakeholder education.
This report is based in part on findings of a survey of 95 insurer CIO members of the Novarica Insurance Technology Research Council.
CONTENTS
Figures and Tables…2
Related Research…2
Introduction…3
Key Findings…3
Value Metrics…5
Metrics and Business/IT Alignment…6
Improving Business/IT Alignment…7
Concluding Thoughts…8
About Novarica…9