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» Products & Services » » Business Operations » Financial Management » Financial Performance Measures » Performance Drivers

Benchmarking Finance Activities Within IT Organizations

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ID: 4793


Features:

Metrics, Graphics


Pages/Slides: 37


Published: Pre-2019


Delivery Format: Online PDF Document


 

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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.

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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