Partnering Up

Invesco Ltd. is an American independent investment management company that is headquartered in Atlanta, Ga., with additional branch offices in 20 countries.

The company had already implemented an ITBM platform with another vendor, but quickly realized they needed to grow and change. So, they decided to use Cask to implement ServiceNow ITBM enhancements to their instance. Cask’s existing relationship with IT officials within Invesco was leveraged into a new workflow for the development of ITBM through the company’s Project Management Office.

Before The Magic Happened

On a monthly basis, an excel spreadsheet was set up to account for the current budget breakdown. The spreadsheet needed to be manually updated with the previous month’s actuals and future forecasting; then manually compiled for reporting to executives. None of this data was captured on a system of record.

At the onset of the COVID-19 pandemic, managers sought to improve visibility through automation. The client asked for many ServiceNow ITBM enhancements, including the ability to build a budget and forecasting tool “to inform the yearly budgeting process [to] build a month over month comparison of budget, forecast and actuals.” They also wanted to feed this information into a single system of record with little or no intervention. With a parallel approach to their PMO portfolio, Invesco could then make better business decisions around ITBM.

We helped them develop Cost Plans to capture new financial details, with added line items around expense types for internal customers. Workflow Approval changes would then automatically notify managers of items needing review. This new level of financial forecasting allows Invesco to properly plan and execute projects for General Change Maintenance.

As a business, Invesco had figured out how to streamline their process, but they wanted the right tool to do the work.”

ITBM Solutions Architect and ITBM Technical Practice Lead, Jonathan Holman

Improving Processes

Cask’s workflow updates built into the platform took current logic into account before building new line items and notifications. Clearly labeled steps would route requests to the right stakeholder for approval, including new domains for Investments, Distribution, and STS and Corporate Functions (formerly Enterprise).

“We would send the work over to the point of contact at Invesco, to make sure that we delivered what they were expecting [based on their requirements],” Holman said.

ServiceNow ITBM Enhancement

With the ServiceNow ITBM enhancements made to their module, Invesco now has the ability to streamline their Technology Related Project book of record and better understand the breadth and depth of the demands and projects being requested.

“There is a unique skill set around understanding the technology for ITBM, and Invesco recognized that they couldn’t just go to too many partners to get these unique skills and capabilities,” Cask Account Executive Eric Jones said.

We were able to quickly assess what had been [previously] executed in their instance, and based on Cask’s knowledge of the technology, were able to execute quick wins for the organization.”

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