The Seven Core Principles of Digital Transformation

Digital Transformation

Digital Transformation has become a hot buzzword recently, being adopted by Microsoft as the overarching theme for their cloud based business apps and the subject of many studies from McKinsey and company, Gartner and other research firms.

I wanted to share some of our approach and lessons learned working with companies in different industries such as Insurance and Manufacturing on their digital transformation initiatives.

A transformation does not happen overnight. It is a long and sometimes painful process that to be honest, never really ends. The rate of innovation and change is increasing and new business and customer needs will constantly emerge.

Therefore, our approach is very much grounded in the concepts of agility. The right foundation built with change in mind. In such an approach, it is not always beneficial to try and document every future requirement to see how to accommodate it but to have a very strong foundation and an agile, open framework that can be easily adapted.

A good way to judge your current agility level is to perform a Digital Agility Gap test. For small, medium size and large changes business has requested in the last year, what is the gap between when the business would like to see the change made to when your organization was able to deploy? The larger the gap, the more acute the need is for a comprehensive digital transformation.

agility-gap

The following 7 core principles should drive every digital transformation initiative, large or small:

  • Business Driven. This may sound obvious but all digital initiatives need to have a business reasoning and business sponsor. Technology can be a game changer but very often, the digital channel needs to be part of an omni-channel approach. eCommerce can augment retails stores or distribution channels but will not replace them for a long while. Digital must be part of the overall business and market strategy. The new role of Chief Digital Officer is a great example for how organizations integrate the digital as a business channel with broad responsibilities and a chair at the executive table. The Digital aspect needs to be part of every major organizational strategy, not a separate one. For example: you are launching a new product, how will you design it, support the manufacturing/supply chain, market, sale and support the product using Digital means?
  • Data is King. Having enterprise information available in digital format with a single source for the truth is the absolute foundation of a digital transformation. Without “Good data” the effect of garbage in, garbage out will produce inconsistent results and systems people can’t trust. This is usually the hardest part for many companies as organizational data may be residing in many legacy systems and too intimately tied to old business applications. It also is hard work. Hard to understand and hard to put a direct ROI on. It is not glamorous and will not be visible to most people. In lieu of complete data re-architecture, most organizations start with master data management and data warehouse / operational datamarts to get around the limitations of the various systems where data is actually stored. The imperative is to know what the single source of the truth is and abstract the details through data access layer and services. The emerging area of Big Data allows capturing and processing ever larger amounts of data, especially related to customer interactions. Data flows, validation and storage needs to be looked at again with new vision into what and how data is captured, stored, processed and managed.
  • Actionable Analytics. Many organizations invested heavily in Business Intelligence and use decision support systems to run analysis and produce reports. The expanding scope of data capture and processing now allows analytics to serve as actionable triggers for real time decisions and other systems. For example, your website’s ability to make customer specific product recommendation can be a result of real time process that conducts a customer analysis and what similar customers have bought and can execute an RFM analysis to assign a tier to the customer and derive relevant offers. Marketing campaigns can target prospects based on predictive analytics etc. Closed loop analysis is critical for understanding the impact of decisions or campaigns. The ability to see the connection between an offer or search campaign and the revenue it generated is the foundation of future investment decisions.
  • Customer Centricity. One of the main drivers and benefits of the digital transformation is the ability to meet the new world of customer expectations and needs. Customers want access to information and ability to take action and interact anytime, anyplace, from any device. The new Digital Experience maps to the customer lifecycle, journey or buying flow and data is collected at every point of interaction to feed personalization, targeting and marketing. When done correctly, an intelligent user experience will improve engagement, loyalty and conversion. In designing new digital user experience, we usually recommend mapping the user interactions across all touch points and focusing on finding common needs rather than a “Persona” driven approach. Those in our experience are too generic and lead to oversimplification of the model.
  • Agility in Technology and Process. Agility is at the heart of our approach and without it you would go through a transformation every few years. It is broader than just IT and impacts many business and operational processes. Few key concepts of planning for agility:
    • De-coupling. A large part of what makes changes hard, is the intertwined nature of most IT environments. Proprietary databases, older applications without outside interfaces, hard coded database calls in code, heavily customized but dated applications, etc. The solution is to de-couple the elements and create a modular, service oriented architecture. Data should be separated from logic, services, and user interaction allowing each tier to grow and evolve without requiring complete system re-write. For example, the biggest driver of transformation in the last few years has been the user experience and the need to support users in various mobile devices. A de-coupled architecture would allow UX overhaul using the same services and backend.
    • Agile / Rapid application development. Application development needs to be able to create prototypes and test ideas on a regular basis. For that to happen, the process of definition, design, implementation and testing software has to be more responsive to business needs. Whether following Agile Methodology principles or just a more iterative version of traditional models, application development has to be able to quickly show business users what they would get, and adopt a minimal viable product approach to releasing software. An emerging model of continuous delivery allows faster, automated deployment of software when it is ready.
    • Cloud and Infrastructure agility. The emergence of cloud services is making agile environments so much easier to implement. From an infrastructure perspective, you no longer need to invest in hardware resources for your worst-case load scenario. The ability to get just as much computing resources as needed on demand and scale as needed in matter of minutes makes platforms like AWS and Azure very appealing. Many applications now offer only cloud based versions and even the large players like Microsoft and Oracle are now pressuring all customers to get on the cloud versions of their applications. The ability easily to plug a cloud application into the environment is the ideal of agility. With a common security and authentication layer, the modern corporate application landscape is comprised of many different cloud applications being available to each user based on their role and integrated to a degree that makes the user experience as seamless as possible.
    • In addition to the environment, software and infrastructure, organizational processes have to be more flexible too. Change management needs to become a process that enables change, not one the stops it.
  • Process Automation: with the new landscape comprised of so many different and independent application, process automation and leverages the open interfaces of application is becoming critical. Traditional Business Process Management application are now morphing into cloud orchestration and an ability to allow processes to be created across multiple applications and managed / updated by business users without IT involvement.
  • Security. Last but not least, the open, flexible nature of the future landscape we were describing here, requires new levels of security that should be an integral part of all facets of the environment. Data security and encryption. Services security, security in application design, all layers and components have to consider the rising threat of hacking, stealing data and denial of service that are more prevalent than ever. We see this as the primary concern for companies looking to adopt a more digital and agile environment and a large emphasis on risk management, security standards and audits should be a primary component of any digital transformation initiative.

What’s new in SharePoint 2016

SharePoint 2016 is finally here and we wanted to share some of the highlights. There are a few major improvements over SharePoint 2013, and some caveats to watch out for.

General Direction:

Microsoft has good reason to want everyone to get on the Office365 cloud bandwagon:

  • No more upgrade cycle
  • Ongoing fixes and improvements
  • Integration with other Microsoft tools
  • And of course, per user monthly subscription revenue

In reality, we see two hurdles for a large number of companies waiting to get onto the cloud version – the ability to control your environment, and having your data  at someone else’s mercy – not everyone is comfortable with either of these.

SharePoint 2016 is aimed at exactly this audience and provides 3 major areas of improvement:

  1. Catch-up with many platform improvements released to the cloud in the last 3 years
  2. Improvements in hybrid environment support, allowing companies that have some cloud footprint and legacy on-prem farm a way to provide a more seamless user experience
  3. Mobile friendly user interface
  4. Improved encryption standards

The full list of new features from Microsoft

Key features worth highlighting:

Hybrid environment support:

hybrid

While the Hybrid option does officially exist in SP2013 it has quite a few limitations that made it difficult to use. SharePoint 2016 adds the ability to follow SharePoint Server and SharePoint Online sites, and see them consolidated in a single list. Users will now have a single profile in Office 365, where all of their profile information is stored (although it is not a 2 way sync).

Most importantly, search can now include both on-prem and Office 365 sites.

Microsoft’s view is still assuming Office 365 is your primary environment and the on-prem is legacy that has to be supported for now, but these new features make a hybrid solution much better for users.

Mobile user interface:

mobile

A new and improved mobile interface is a very welcome upgrade. While it is not a completely responsive experience, the OOTB use is much better and can be more easily customized using Bootstrap to be responsive.

Improved Security

SharePoint 2016 now supports TLS 1.2 by default. SP13 required TLS1.0 to work properly and we have many customers who wanted to turn that off but could not. https://technet.microsoft.com/en-us/library/mt346121(v=office.16).aspx#encrypted

 Deprecated features

A few important notes about deprecated features:

  • There is no longer a free version. The WSS/Foundation free version has been around for a very long time and enabled small companies or teams to use SharePoint for free. There will not be an equivalent for SP16 so companies that currently use SP Foundation will need to migrate either to a Standard version of SP16 or to office 365.
  • Some 3rd party integrations will no longer be available. The SAP module (Duet) will not be supported. SalesForce also has shared with us that they have no intention of upgrading their SP2013 integration. They clearly see the direction Microsoft is taking in moving everyone to the cloud and do not see a future in supporting future on-prem installs.
  • Excel services will require an online office server in order to work.
  • Lastly, the seldom used Notes and Tags are formally gone.

Final thoughts

Microsoft is very clear about SP16 being a transitional product in the path towards cloud. It will support customers who are not yet ready to make the leap but will emphasize the hybrid options. More and more capabilities will start to depend on the cloud (like Excel services) and 3rd parties will stop supporting the on-prem installation. The future is clearly in the cloud so if you are on an older on-prem version and thinking about an upgrade, check the cloud version first and only if it is not a viable option for your organization consider the on-prem/hybrid options.

time flying

Avoid these Top Ten Mistakes when Transitioning to the Cloud

Time and again, organizations erode potential benefits of a cloud transition. More thought on the front end can help you achieve a shorter time to value.

  1. Not thinking through your SLA requirements.  Your SLA needs should be part of your RFP or RFI, based on your internal business priorities. Many companies, when taking their first steps into the cloud, accept the SLA’s offered by the vendor in the first contract draft.
  2. Failing to model total cost of cloud and on-premise options:  Apples to apples comparisons are hard to find in the cloud world.
  3. Failing to ask potential vendors (and the references you will be checking) how long it takes to:
    • Get contract redlines turned around
    • Get from a handshake to implementation-boots-on-the-ground
  4. Not thinking through support processes, roles and responsibilities. As more assets are moved into the hands of multiple cloud vendors, it’s important to document crystal clarity of responsibilities, accountabilities, and notification/approval policies. The best way to do this is to construct a RACI matrix.
  5. Under preparation for testing:  Do you have a formal QA methodology? Do you have a body of test scripts prepared for the deployment?  What about performance testing and integration testing?  Don’t let test planning and preparation impose a drag on the implementation timeline. Look before you leap, or you may be disappointed by poor performance or failing interfaces down the road.
  6. Under thinking security: What are the liabilities? Did you stipulate access for annual security testing in the contract?
  7. Rushing forward without an enterprise cloud strategy: Proliferation of departmental cloud applications has taken much of the decision-making out of IT’s hands. A cloud approach that grows up organically can result in compromised information security and lack of critical integration between applications.
  8. Failing to manage end user expectations: Have you documented and communicated the changes adequately?
  9. Overestimating your in-house IT skills:
    • Does your team really have the systems integration knowledge and experience with the cloud to take your critical business apps through the transition?
    • Overestimating your in-house skillset
  10. Underestimating bandwidth requirements: Your “big pipe” locations are one issue, but do you understand how much work really gets done by remote workers? Will they see adequate performance from the cloud? How will additional bandwidth affect your cost model?
Chinese_character_採_cai3_pick

Just Pick 3

Fast away the old year passes, as the song goes.

It’s that introspective time when we all review the victories and defeats of the last twelve months and come up with a list of resolutions.

How long was your list last year?
How many of those goals did you attain?
Did you come out of the gate in January with a bang, and light a fire under 10 or more action plans, or did you attack your list in a prioritized sequence?
How did that work out for you?

In any year where I made a lengthy list, I ended up frustrated before February rolled around, and never looked at my list again. I just couldn’t achieve the progress I envisioned.

This year, I am going to do something different, and I think you should too.

By January 1, I will pick 3 areas to focus on in my work and personal resolutions. When I have achieved the desired results there I will pick 3 more.

The best way to do this is to pick 3 goals phrased as metrics you can measure.

Start your list. What do you want to change? How will you measure it?

Decide what is  most important.

Then, just pick 3.

5 things you need to migrate web analytics on-premises to SAAS

netinsight sunsetRemember the IBM announcement back in April to sunset NetInsight? The truth is on-premises web analytics is a dying art. The only other well-known vendor that provides on-premises solutions is WebTrends. It is destined to suffer a slow death – there have not been any new releases for the last few years and customers are encouraged to move to the SAAS version. So, the next best thing is to prepare and plan for inevitable – migration to SAAS.

  1. Assess Web Analytics vendors. Sunsetting the on-premises solution presents a good opportunity to reassess the web analytics landscape instead of blindly sticking with the same vendor and moving your data from on-premises to SAAS.
  2. Documentation. Documentation. Documentation. I said it three times and I meant it. No one likes to create it. I get it – it’s a boring, monotonous task to write every variable, every processing rule, every customization. However, switching your web analytics tool without documentation is like going into battle and forgetting your ammunition. You need to ensure you have documented the following:
    • A List of Key Custom Built Reports and Layouts. This is your foundation for stakeholder expectation management and therefore the golden key to your sanity during migration. This task can become a project on its own since going through such an exercise will confirm what reports and metrics are critical and important for the business and which ones you can delete because no one is using them anyway.
    • Current Tool Configuration rules. This is a big one and can cost you dearly. I had many urgent calls from clients desperately trying to understand why their data tanked 20 – 30% when they switched to a new tool or data collection method. In 99.9% of all cases the answer was due to configuration such as page view definition, filtering, visitor tracking methods, etc. The configuration topic certainly warrants a separate post, so check back in a while.
    • Site/Metric Matrix. List all custom collected metrics per site, including metric definition, collection method and syntax. This exercise should be completed hand-in-hand with report documentation to ensure every single custom metric is documented. This is your bible. Keep it on your nightstand and refer to it often. If you need a sample template, come back in a few weeks – I will be posting further on this subject.
  3. A Project Manager and a Project Plan. Web Analytics migration is like surgery – you need to make sure that your patient (aka reporting) will not die during the surgery (migration). You may get away without a plan if you a dealing with a simple site and basic data collection (wart removal), but if you a dealing with multiple sites, channels, applications and vendors (open heart surgery), a solid plan is required for successful execution.
  4. Assessment against Current Reporting Capabilities. Migration from on-premises to a SAAS solution (or one vendor to another) almost always results in loss and/or gain of features. E.g., SAAS solution is likely to have greater social and mobile tracking capabilities but you may need to make some data collection tradeoffs in order to adhere to your company’s data collection policies, especially if you are in the healthcare or financial industry. Create a loss/gain matrix and use it to manage change. No one likes to give up things that they already have. Over communicate any changes to stakeholders in advance, quantify impact of such changes on business and help to define mitigation plan, if necessary.
  5. Assess Current Roles, Responsibilities and Processes. Switching from on-premises to SAAS will impact current roles and processes, e.g., there will be no need to maintain servers.   Process-wise, you will not be able to re-analyze collected data, which will have an impact on new report deployment as well as the ability to apply new reporting requests to historical data. Don’t wait for a bear to get you – review current roles and processes, outline necessary adjustments and manage change before the migration occurs.

Feel free to comment or add to my list!

5 Highlights from SharePoint Conference 2014

SharePoint Conference 2014 wrapped up last week. Microsoft used the big stage to announce some exciting new capabilities and paint a clear picture as to how they see the future of SharePoint.

It starts with their view of the future of work. Not farm labor but information work of course. That future is networked. It consists of individuals and groups collaborating using documents, discussions, chat and video in a fluid setting. People may be working from their office, home, on the road or all of the above and using a variety of devices. They need access and an ability to interact. They need to be productive.

I have to subscribe to this vision as this is exactly how we work at Edgewater today. The future is here.

Microsoft’s vision for the technology that should empower this future of work is a natural extension of their mission of supporting information workers, and with Office 365 it all comes together rather nicely. Your office apps and files, email, chat, video, meetings, groups, calendars, people, social interactions all available and integrated. Available from anywhere and on any device.

It’s not all there yet and as I mentioned in an earlier post, there are quite a few gaps to fill but they are rapidly working on closing it and the speed of cloud deployments will allow them to make it a reality pretty quickly. Unless they find a way to derail things again.

A few things that were introduced this week build on and extend these concepts.

officegraphThe Office Graph: Not a new concept in social networks and a core capability of Yammer, extended to the full Office 365 suite, this is at once exciting and scary. All my activities, connections, interactions are tracked and put into a graph format that allows applications to use this data for a more relevant and personalized experience. It has some great potential applications, some we’ll talk about next with the Oslo interface. On the other hand, not that there is any real privacy in the workplace but any semblance of it will be officially gone. “Did you read my memo from last week”? well, no more white lies as your manager can easily get a report of who exactly read the memo.

OsloOslo: a new tool / interface concept from the FAST search team combines search and the social graph to give you a FlipBoard like experience, bubbling up things you should know. If your close colleagues are all reading the same document, maybe you should too? If a specific blog post is generating a lot of comments, what discussions are very active? Natural language search across multiple data sources. Can definitely be very useful.

GroupsGroups: yes, interesting to think of groups as a new concept. In this incarnation (lovers of public folders rejoice) groups are a cross application construct for discussions. Integrated across Yammer, SharePoint, Outlook and office, the idea is that in many instances, group discussions are a better way to interact than email. The only concern I would have is the proliferation of groups. It may be good for people who are only part of a handful of groups and teams but many of us are part of dozens if not more groups and teams and the interface I’ve seen only included about 6. I hope it scales.

inlinesocialInline social experiences: in short, this recreates a way to have a Yammer conversation on files and other Office, SharePoint and even Dynamics entities. I love this feature. It is such a natural way to interact instead of emailing and allows all people with access to see the discussion.

Cloud Only? Finally, I think the big question on everyone’s mind was what will happen to the on-premise version of SharePoint. With so much focus on the integrative aspect of Office 365 and rolling new features on a weekly basis, will the local server be phased out? The official answer is that the on prem version will continue to be important and get a new version in 2015 and beyond. With such a huge existing installed base they have to. But the future is clear and it is definitely in the cloud.

Why Cloud?

Why CloudIT leaders:

It’s time to take an honest look at the business and business goals of your organization. How does IT drive BUSINESS objectives? Can you honestly say that your IT infrastructure contributes to your company’s bottom line? Or are you still a “cost center?” What you will find is that there are big areas of opportunities to enhance business strategy, free up real dollars in hard savings, and free up soft costs. Although out-of-pocket savings is the current focus of the benefits of the Cloud, it’s the soft costs that may provide the biggest business impact.

Freeing up “facilities”

Moving systems to the Cloud will allow key essential resources to focus on those projects that directly impact the business. Your IT group will better serve the organization as a whole by providing the foundation to grow and expand. So what do I mean by facilities? Think on a broader scale. I am not talking about a couple of racks, I’m talking ALL of your physical facilities. Just think of the benefits of not being tied to a physical space:

  • Production and/or Disaster Recovery: you don’t have to house the majority of your hardware onsite. The Cloud can potentially house both primary production AND disaster recovery. Two different locations in the Cloud, nothing in your building.
  • Utilities: Electricity, phone, wireless connectivity, every square foot has associated costs, and much of it can be Cloud based. No more need for the long term contracts and responsibilities a company’s physical space carries. Your utilities don’t have to change when your address does.

The goal of the Cloud is to provide efficiencies to the businesses, both from a cost and support prospective. So why wouldn’t you want:

  • Quicker turns on IT projects
  • Stability across the application base
  • More efficient use of skilled resources
  • Mobility

Shifting applications and functions only makes sense. Consider Microsoft Office 365 as a starting point. Even if you only use Outlook and not the other applications included – SharePoint, CRM, SkyDrive — consider what you WON’T have to worry about:

  • Licensing
  • Version control
  • Hardware life cycles
  • Facility space and costs

And look at the benefits:

  • Ease of access regardless of location
  • Plays right into  Disaster Recovery and Business Continuity plans
  • Latest and greatest versioning / functionality

The bottom line is that the Cloud does provide significant benefits to any business.  It’s time to take a hard look at how your IT footprint can contribute to your company’s success.

BPO hosting: Has the dark side finally been destroyed?

luke yodaWhen Luke Skywalker was being trained by Yoda did he ever think about Hosting vs BPO – well maybe he should have. Maybe there where bigger fish to fry than cutting his own Dad’s hand off, which felt a little cheesy.

So what are we talking about? Well, for years Carriers have sought a way not to spend multi-million dollars on infrastructure and to host or process outsource their core. Now if you have no CSR staff and do not wish to hire them, then process outsource was the only avenue, if you had CSRs but your enterprise infrastructure was poor you looked to a BPO to provide hosting. Breaking it down though, no BPO firm wants to host your policies, it is not in their business plan. Sure, they will but why do you think they will? Because their sales guy will constantly be trying to drip bleed you dry and move over to BPO “let us handle the excess claim volume next month”, “wow billing is such a simple area, we could take that off your hands and your valued staff could be moving into bigger things” – it is all the “camel’s nose under the tent” – you do not notice the nose and soon enough, the whole camel is in.

So where is this going, seeing as there are limited offerings… the world has changed and at last large Policy Admin vendors are looking to the Cloud. With harnessing new models in a way to offer their products the costing and security can seem great benefit, to the big and the small alike. Only last week I sat with a PAS vendor who took me through how they could, cost effectively, host several small carriers on one hosted instance, spreading the cost and achieving a way for everyone to access the latest and greatest software out there. Of course, people have laid claim to this before but no one has ever seemed to make it a realistic business model, until now.

The good news is, it is out there – finally we can see costing and hardware sizing where they should be — which is the best of what you want, when you need it. No longer do you need to size for your month-aversary and no longer does the end of year CPU crunch need to worry you…you can have the best of the Admin Systems and you can strap on power when you need it. I, for one, finally feel that really Insurance Admin in the Cloud is here and it is here to stay.

Admin vendors can worry about their product enhancements; Cloud providers focus solely on the security and fail over (they are the best at it after all); carriers can focus on customer service and product. Amen, we are all where we should be. And what about us integrators? Well that is simple, with any move like this comes a need to not only have your Cloud strategy in place but also the ideal time to review your Enterprise Architecture as a whole. PAS is just one thing, what about Office 365 in the Cloud? The list goes on and on – it is time to see if the Cloud has an avenue for your organization and time to stop letting others control your destiny. Cloud vs BPO hosting /services – a no brainer decision.

Cloud 101: Understand the Plan

cloud plan

Cloud questions

Moving to the Cloud is a good move in most cases HOWEVER – It’s not as easy as most service providers want you to believe. If the analysis isn’t done properly up front it can lead to poor performance, interruptions in business, and, what I am currently seeing, costs getting out of control quickly.

CIO’s and CFO’s are rightly asking:

Why are our IT Budgets significantly higher?

Wasn’t the Cloud supposed to save us money?

The Reality – The Cloud is not for everything and everybody!

You need 2 things from your service provider:

  1. First and most important – Due diligence
    Your service provider should understand your business and make that the priority 1. For example: Recently I have seen two companies, one an engineering firm and the other in the Insurance industry, that have very dynamic IT needs. These needs were clearly not understood and documented in the detail that was needed to ensure a successful cloud endeavor. Both company’s need to spin up and down environments for pre-determined times. So who’s managing this?
  2. Which leads to my second point – Education
    During the discovery phase, service providers need to make sure that whoever manages the cloud provider/vendor is made aware of the pricing model and supported content to manage the environment properly, what to expect and what controls need to be implemented to ensure environments are managed correctly.

The bottom line is: Many providers are on the bandwagon to sell Cloud. A lot of them don’t have preferred hosting partners and focus only on the transitional services. So clients must understand:

  • whether discovery or due diligence services are provided
  • whether that report includes recommendations regarding which applications should move to the Cloud and which should stay on premise
  • what hosting partner or Cloud service is recommended
  • estimated ROI

Cloud strategy is critical to Cloud success, even if clients have to enter these unchartered waters on their own.

Little innovations lead to big change

When carriers think about innovation and achieving competitive advantage, most focus on big changes: introducing new products like Usage Based Insurance, redesigning business processes, deploying major technology initiatives like customer and agent portals or new policy administration systems. They think of trends like social media, predictive analytics, and big data.

But innovation and competitive advantage can be achieved by making smaller improvements in everyday processes. For example, understanding and keeping current with ISO changes is critical to most carriers. Consider ISO’s recent Commercial Lines updates. Per their October briefing, ISO CL Update, the Commercial Automobile Program alone included a new auto dealers program and 26 new optional endorsements.

datagrailFor most carriers, hearing that major updates are coming raises shudders. Carriers know that analyzing ISO updates, comparing them to the current version of rates and forms in use, and identifying changes is a challenge. It takes significant time and knowledge to pour through the various ISO materials and determine what has changed and how the changes impact the carrier’s book of business. Since so many carriers already have too much on their plate, they often let ISO updates slide, failing to adopt them in a timely manner. Thus they miss the small innovations that can improve their product offerings and improve their bottom line. When they do choose to catch-up, it is often a daunting effort to jump several versions in one leap, introducing massive change to their systems, processes, and books of business.

Applying automation to the comparison of ISO changes could improve the efficiency of the analysis process, allowing carriers to more quickly determine the impact of adopting or not adopting ISO changes. This targeted solution is not a major system implementation, but it is an innovation that would allow you to best leverage your investment in ISO content, and improve a cumbersome process. It is a small innovation that would allow a carrier to dramatically improve its ability to analyze and react to ISO changes. A small innovation with a big payoff in more efficient internal processes that can translate to improved products, product pricing, and the bottom line.

A solution already exists. Edgewater Consulting has leveraged its deep industry and technical knowledge and long-standing ISO relationship to develop a cloud-based solution to address this critical business need. The solution compares ISO rate books and quickly identifies what has changed, and presents results in Microsoft Excel, a familiar yet powerful analytical tool.

We will be hosting a webinar with ISO to demonstrate the tool, using it to analyze ISO’s commercial auto changes released on October 1. If you’re interested in attending, register here.