Suncorp

In the financial services industry, where innovation must be balanced with stringent regulatory demands, effective application management is crucial. Suncorp, a leading financial services group in Australia and New Zealand, faced the challenge of managing over 2,000 applications while adhering to the Australian Prudential Regulatory Authority’s (APRA) CPS 234 standards. By leveraging Bizzdesign Horizzon’s Application Portfolio Management (APM) , Suncorp transformed its approach to compliance, risk management, and IT governance.

Speaking at Bizzdesign Connect (Asia Pacific) Andrew Fry – Enterprise Architect at Suncorp – shared how this transformation has empowered more informed decision-making and proactive risk management by increasing visibility into its application portfolio.

The Compliance Challenge

With a robust team of 28 enterprise architects and 100 solution architects, Suncorp needed a scalable tool to manage its extensive IT systems. Its goals included:

• Tracking and mitigating risks such as end-of-life dependencies and support issues for IT assets.
• Streamlining compliance processes to meet APRA’s stringent regulatory audits conducted every three years.
• Enabling business stakeholders to make informed funding decisions for applications.

In short, Suncorp required a solution that could provide a unified view of its IT ecosystem while automating key processes to reduce manual effort.

Key Learnings from Suncorp

After adopting Bizzdesign Horizzon, Suncorp established several best practices to optimize Application Portfolio Management, including:

• Automated Data Integration: Source data from ServiceNow’s CMDB was synced to Horizzon, ensuring accuracy and consistency across its portfolio. For instance, automated updates highlighted applications nearing the end of their lifecycle, enabling proactive risk management.
• Capability Mapping: Applications were linked to business capabilities, providing a clear understanding of their strategic value. This allowed stakeholders to evaluate which tools were essential for functions such as claims processing and regulatory reporting.
• Lifecycle Visualization: Technology Asset Roadmaps were created to display the current state and future projections for applications. These roadmaps played a vital role in APRA audits and streamlined compliance processes.
• Automated Artifact Creation: Horizzon’s automated workflows reduced manual effort while ensuring that compliance artifacts met regulatory requirements.

These measures not only reduced manual workload but also enhanced visibility into the application portfolio, enabling better decision-making and risk mitigation.

Key Benefits

1. Enhanced Compliance: Suncorp’s operational risk procedures and automated artifact creation ensured adherence to APRA regulations, making audits more efficient and less resource intensive.
2. Informed Decision-Making: Clear visualization of application lifecycles allowed stakeholders to identify reusable applications, reducing costs and improving alignment with strategic goals.
3. Reduced Risk: Mapping dependencies helped Suncorp address risks associated with outdated systems, ensuring critical applications remained operational and effective.
4. Improved Governance: Standardized terminology and visualizations made information more accessible to non-technical stakeholders, fostering better collaboration across teams.

Get Bizzdesign’s Application Portfolio Management Plus guide here.

Final Thoughts

Suncorp’s journey demonstrates the power of APM in driving efficiency, compliance, and strategic alignment within a complex IT landscape. By leveraging Bizzdesign Horizzon, Suncorp not only streamlined regulatory compliance but also empowered stakeholders to make informed, value-driven decisions. For organizations navigating similar challenges, APM offers a proven pathway to success.

Explore how Bizzdesign’s platform can help your organization close the gap between strategy and execution.