Benchmarking Finance Activities Within IT Organizations
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"Benchmarking Finance Activities Within IT Organizations"
Study Overview
The information technology that supports financial activities at larger organizations is a crucial part of the IT and finance infrastructure. However, this area can be mismanaged. Managers may have a difficult time understanding how it is best staffed and funded, given that it is a vital part of IT that must be constantly maintained and secured.
Benchmarking Finance Activities Within IT Organizations assists leaders with these resourcing decisions. It reveals how 18 major organizations, two-thirds of which are from the financial services industry, staff, budget and structure Finance within IT. Such benchmarks equip decision-makers with an idea of how peer institutions define and view this area and what levels of resourcing they deem appropriate for it to function well.
Key Metrics
- Presence of Centralized IT Finance Organization
- Outsourcing of Finance IT Resources
- IT Finance Employees as Percentage of Total IT Employees
- IT Operating Budget
- IT Finance Employees Relative to Operating Budget
- IT Support Region
- Organizational Level of IT Finance Employee
- Percentage of IT Finance Employees Per Finance IT Activity
- Monthly Close Cycle
- Best Practices for Overseeing IT Finance
Key Findings
One example of a key finding is that there is a high level of centralization (61% of respondents) of finance organizations within the IT function.
Methodology
This research originated from Best Practice's Financial Services Forum, a segment of Best Practices, LLC's Global Benchmarking Council.
Business Operations > Financial Management > Financial Performance Measures > Performance Drivers
Industries Profiled:
Financial Services; Banking; Manufacturing; Pharmaceutical; Biotech; Health Care; Telecommunications
Companies Profiled:
Bank of America; Bank of Oklahoma; Capital One; Deluxe Corporation; Charles Schwab; Dofasco; CUNA Mutual; Fifth Third Bank; GlaxoSmithKline ; Rimac Seguros; Northern Trust Company; The South Financial Group; JP Morgan Chase; People's Bank; Pfizer; Wachovia; Washington Mutual; Verizon
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Business Operations > Financial Management > Financial Performance Measures > Performance Drivers
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