Client: Pharmacy Benefit Company
A leading pharmacy benefit manager (PBM) with one of the nation’s largest mail-order pharmacy operations assisting its customers with moderating the cost and enhancing the quality of prescription drug benefits to millions of members through an extensive network of retail pharmacies.
Challenges
- Senior IT management was under pressure to improve the cost-effectiveness of IT while driving innovation across the company.
- IT projects were evaluated, prioritized and approved on a case-by-case basis within each business unit, which did not always support the corporate mission and garner appropriate ROI.
- The company wasn’t capitalizing on economies of scale or leveraging initiatives across the enterprise.
- Executive management wanted to realign IT resources with business needs and strategic goals and institute a standardized process including financial controls, accountability, process efficiency, quality control and project governance.
RMK Solution
- Recommended a program management model to provide executive and IT management with:
- Oversight for analyzing, controlling and directing IT business solutions and expenditures
- A process for mapping and managing delivery of project milestones and controlling costs by identifying and mitigating risks early in the software development lifecycle
- Developed and successfully implemented an IT governance process consisting of:
- Budget versus actual financial and progress reporting
- Risk and issue control matrices
- Workflow
- Standard operating procedures, including a benchmarking methodology for identifying and deploying process improvements
- Deployed disciplines for a continuous improvement program that changed the enterprise philosophy regarding quality.
Results
- Executive management has better insight into the IT project pipeline and is able to adjust it accordingly for the greater enterprise ROI.
- The application of this program management model focused on IT governance has increased the client’s IT efficiency by 20%.
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