Lean budgets are now the new reality, according to Rod Travers, and that's the biggest challenge for insurers in today's environment. "The old clich? of 'do more with less' has leveled out to become 'do more with what you have," says Travers, who is senior vice president of technology at Robert E. Nolan Company. "Although the worst of the budget pressures have passed and every company's situation is different, IT departments still are pressured to do more within budget constraints."
Travers will be moderating the IT Town Hall session, on Wednesday at 9:15 a.m., which features a panel of industry experts and promises to look at the issue of how IT departments are learning to "live lean," including leaner staffs, tighter budgets, greater focus on ROI, and shorter projects. Carriers that must adapt to this "new normal" while still delivering high-impact results are examining every area of their IT operations to drive efficiency and cost savings.
"There is continued pressure to weed out the outdated systems that are costing a lot of money to run. Maintenance on those systems is where you continue to find budget dollars sailing out the window," Travers says.
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