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June 23, 2022

Banks Track the Money with Clarity

by: Alf Abuhajleh

Financial services organizations tend to have a lot of people working on a large number of high value projects. And they do so in one of the most highly regulated industries where every hour and every dollar have to be tracked. We spoke to a panel of representatives from the financial services industry to understand their environment.

Q: What are the challenges you needed to overcome to be successful?

A: Our operating model requires us to chargeback all work to the relevant business areas, and those chargebacks have to fund our portfolio of investments. It’s therefore essential that we have accurate time and financial tracking along with transparency for every piece of work we undertake. Because we capitalize as much of our in-house development effort as possible, we need to be able to accurately track that work. As a publicly traded financial institution, we have to report to auditors, regulators, and investors, so we have to get it right.

Q: How do you go about addressing those problems?

A: We know that we need a strategic portfolio management (SPM) solution to manage our $400 million of investments, but we also know that not any SPM product will do the job. We need our solution to support about 6,200 people working in the system and allow us to adapt it to handle all of our financial tracking needs. Finally, we also need it to handle everything from maintenance activities to strategic investments.

Q: What do you do, and how does it help?

A: For us, Clarity by Broadcom Software is the answer. We’ve been using Clarity for more than a decade now and we simply couldn’t operate without it. We can manage everything from an acquisition to a maintenance release in one solution. We can track and account for chargebacks down to the hour and dollar, and we can accurately report all capitalization-eligible activity.

Clarity allows us to work the way we want, without having to adjust or compromise because of the limitations of the tool. It also gives us the insight we need without taking our thousands of users away from the work they need to deliver – ensuring efficiency as well as effectiveness.

Q: How is this driving your success?

A: We simply couldn’t operate without Broadcom’s Clarity solution. We’re looking to expand its reach into more use cases, including an active plan to adopt Clarity’s powerful roadmapping functionality. Clarity is our trusted partner in success, whether it’s program managers ensuring the performance of their investments, users entering time, or adding people with roadmaps.

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