Financial services group Mellon Europe is using the latest version of Lawson Software's Services Automation (SA) suite to monitor and track projects.
Mellon's London-based asset management subsidiary, Newton Investment Management, which manages about £22bn in funds a year, will use the software to automate and streamline its 140-strong IT department's resource management and service delivery.
Richard Potts, head of business management and IT purchasing for Mellon Europe, said that the software would eventually be rolled out across the company's European operations.
"Newton purchased Services Automation to monitor and track projects, but we found that we could apply it to other things," he explained. "There is a lot of functionality in the software, so we are seeing how we can use it more."
Version 5.1 of the suite adds portfolio and work requests management, as well as time and expense reporting.
This can be linked directly to an employee's salary and recharging, which makes it easier to track the cost of a financial project.
It should help prevent project creep, where extra functionality is added to a development taking it off budget and schedule.
Vicki Griffith, international marketing director at Lawson, explained that the work requests were a faster way of making project-related requests and gaining approvals.
"They offer the ability for a full view of a project's impact, from both a financial and work point of view," she said.
"The 360-degree view optimises work to achieve more productivity with less resources."
Portfolio management integrates with the work requests to assist IT departments in aligning projects with business objectives.
It tracks and prioritises projects along with investments and assets, showing greatest return on investment and identifying possible budget reductions.
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