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Significant ROI in <6 weeks
RESULTS
80% Less Wasted Overhead
Mercury now has a single view of all contracts, budgets and associated assets all of which is now maintained by 2-IT administrators rather than 25 IT managers.
Data Quality Assurance
All data is current in real time and when budget reviews and the annual budget cycle occurs the data is already available and accurate.
8x Increased Resource Capabilities
Significant internal cost and time savings resulted because the IT managers can continue to focus on their strategic responsibilities and the budget numbers are now controlled by only 2 people.
CASE STUDY
Mercury Insurance is a $3.5B national insurance company providing a variety of insurance services including auto, home, renters, business and umbrella, to name a few. Mercury has agents across the US and significant data center infrastructure to support both internal and external requirements (agents and customers). Accordingly, Mercury has a significant portfolio of OEM and TPM maintenance contracts.
CLIENT STATS
- $3.5B national insurance company
- Auto, Home, Renters, Business and Umbrella, etc.
- Agents across the US
- Significant data center infrastructure
- OEM and TPM maintenance contracts
Services Added
- TPM / Hybrid Maintenance Approach
- CloudCover’s Maintenance Management Platform
Benefits
- Cost reduction
- Flexible services
- A single easy-to-use platform to manage all support and vendors
The Problem
Mercury manages maintenance contracts from over 150 service providers across over 100 manufacturers. Prior to engaging with CloudCover, Mercury placed management of this array of contracts in the hands of their IT management team. 25 people managed a subset of the contracts and each managed them in different ways – Excel, SharePoint, Word, etc.
This process also created the opportunity for costly and time-consuming errors. The CTO reports to the CFO and when periodic budget reviews or annual budget development was required, all the managers would convene and sort through each of their contract budgets, normalize them and build reports to deliver to the CFO. This was a time-consuming process requiring significant administrative support along with all the time of the IT Management team – keeping them away from running the IT business. The CTO wanted to streamline this process and requested support from CloudCover.
The Solution
CloudCover’s budget module allows you to load all your contracts, budgets, associated assets and vendors in a normalized fashion so that everything is in a central repository to be viewed by whoever is assigned to do so. CloudCover worked with Mercury to gather all their contract data, load it into the CloudCover budget module, establish user rights, validate and go live. This process took approximately 1-week.
The Results
Mercury now has a single view of all contracts, budgets and associated assets all of which is now maintained by 2-IT administrators rather than 25 IT managers. All data is current in real time and when budget reviews and the annual budget cycle occurs the data is already available and accurate. Significant internal cost and time savings resulted because the IT managers can continue to focus on their strategic responsibilities and the budget numbers are now controlled by only 2 people. The CTO is on record saying that the ROI on the CloudCover platform was less than six weeks and they are now in their 5th year of renewal.
“We were looking for a better way to manage our maintenance contracts and budgets, so we decided to work with CloudCover. They were very accommodating and we were able to leverage their platform for our maintenance management requirements. The reduced administrative costs justified our investment very quickly and we’ve now been with CloudCover for five years.”
Abby H.
Chief Technology Officer | Mercury Insurance
