SoftwareOne case study
Storebrand collaborates with SoftwareOne to enhance its IT capabilities
Storebrand is among the Nordic region's largest private asset managers and manages more than NOK 1,000 billion. In recent years, technology has become a foundational pillar of the company. Out of a total of 2,200 employees, more than 400 people work in IT. Storebrand wants to be the best in terms of technology in the banking and finance sector, and today is among the leaders. "That says a lot about the emphasis on IT we have in the Storebrand group,” says Kjell Magne Dalen, Head of Finance & Relationships at Storebrand.
Challenges
- Transition challenges: Migrating Storebrand's entire database platform to a cloud-based solution, much of which is done in-house.
- Cost management: Ensuring full control over the costs of cloud migration and identifying avenues for potential savings.
- Optimization: Need for ongoing technological adjustments to match Storebrand's specific needs and consumption patterns.
- Industry expectations: Meeting the high standards and rapid advancements inherent to the banking and finance sector.
- Continuous collaboration: Keeping up with the demand for bi-weekly meetings and consistent feedback from Storebrand.
- Maintaining top-tier quality: The imperative to always stay ahead, as only the best in class is accepted by Storebrand.
Project summary
- Objective: Transition and optimize the entire database platform to a cloud-based solution.
- Collaboration: Teamed up with SoftwareOne (formerly Crayon), a tech solutions provider, to ensure a smooth and cost-effective migration.
- Strategy: Regular bi-weekly meetings with Cloud Economics representatives for guidance and optimization.
Business benefits
- Enhanced IT infrastructure: Seamless migration to a cloud-based solution tailored to Storebrand's needs.
- Cost efficiency: Leveraged SoftwareOne's framework for effective cost management, leading to tangible savings.
- Continuous optimization: Regular evaluations ensure the platform remains at the forefront of industry standards.
- Knowledge gain: Regular interactions with Cloud Economics boosts internal expertise on cloud solutions.
- Strategic partnership: An ongoing collaboration with SoftwareOne provides Storebrand with a knowledgeable sparring partner.
- Market edge: Positioning Storebrand as a tech leader in the banking and finance sector, ready for future advancements.
- Client
- Storebrand
- Industry
- Finance, Insurance
- Platform
- Azure Cloud
- Services
- Cloud services
- Country
- Norway
Framework for cost management in cloud-based solutions
Moving all or part of an applications platform to a cloud-based solution is a significant investment for any company and it can be challenging to have full control over the costs – let alone knowing how to achieve savings along the way.
SoftwareOne aims to simply this for all businesses – small, medium and large, and offers a framework for cost management in cloud-based solutions.
“Cloud Economics analyzes Storebrand's consumption and services in Azure and finds optimization opportunities,” says Carl Robert Hopland, Sales Manager SCA at SoftwareOne. “This includes cost savings that ensure a reduced monthly buill and solutions that are better suited to Storebrand's specific needs.”
Storebrand spends considerable funds on IT operations and development. Every investment should therefore be optimized as much as possible.
What's been most valuable for us is having a sparring partner we can ask anything.
Head of Finance & Relationships at Storebrand
"The initial reports show that we've been on the right track, but it's reassuring to get that confirmation and set a benchmark for ourselves. Not everything is perfect, and SoftwareOne consistently provides new and valuable suggestions. We then present these to our technicians for evaluation based on capacity, appropriateness, and financial impact," Dalen elucidates.
"What's been most valuable for us is having a sparring partner we can ask anything. A partner familiar with our infrastructure and ideas, and one which is always updated on the latest market developments."
As part of their collaboration, SoftwareOne and Storebrand have regular biweekly meetings with a representative from Cloud Economics.
"Our priority is to gain more knowledge. SoftwareOne provides us with a group of knowledgeable individuals who always have the expertise that’s important to us," states Dalen.
Shared commitment for excellence
SoftwareOne delivers services based on the best and most cost-effective practices, assisting clients in navigating an ever-evolving IT landscape. Storebrand is a client that challenges, pushes, and fosters continuous development in the company.
"Storebrand is a crucial customer for our growth. They have high standards and challenge us daily. It ensures that we're always at our best. It's a partnership where we make each other better," says Henrik Haanes, customer manager at SoftwareOne.
"What was good enough yesterday might not be sufficient today when it comes to the IT landscape. To be on the same side of the table, we need to be top-notch, always updated on the latest and what's next."
He clarifies that the banking and finance sector is a knowledge-intensive industry that's generally advanced in technology. Therefore, high expectations are set for partners.
"Storebrand wants to set the standard and is not willing to wait for someone else to find solutions. It wants to discover them on its own. If we are to do it with Storebrand, we need to be the best. If you're not top of your class, you get sidelined," Haanes concludes.
Image: Unsplash/ Joshua Earle
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