T. Rowe Price Group Inc.
SIZE OF FIRM:
WHAT WORK EXPERIENCE HAD THE MOST LASTING IMPRESSION ON YOUR CAREER?
LAST GOOD BOOK READ
"Leadership" by Rudolph W. Guiliani
The Web has reached critical mass. Broadband provides instant information everywhere. More and more innovation will be coming out -- How do we use it and ensure that our clients get the most value out of it? How do we ensure that it is secure? I'm interested in Web 2.0 communities such as Second Life and other aspects of commercialization of application and content. That will continue to be an investment for the next few years for us. Companies that will be market leaders will find innovative ways to use the content to educate their clients or prospective clients.
IT Budget:20 percent of company expenses
Key Technology Management:N/A
Size of Technology Team:N/A
Percent of IT Projects Outsourced:About 10 percent
Key Technology Partners:IBM, HP, Oracle, Cognizant, Deloitte.
Success Metrics:Our ability to deliver on spec, on time, meeting our budgetary requirements. The success of the project in meeting the original need specified. There is always an ROI target that we try to meet. We approve $1 million-plus projects on a three-year TCO [total cost of ownership].
Stay on Track
• This year's projects will have tails that will go into 2008. We are continuing to look at innovation.
TOP 3 CURRENT PROJECTS
Maintain/Upgrade Retail Client Web SiteWe were rated the No. 1 consumer Web site in Q1 of 2007 [by DALBAR Inc.]. For us, it's important to continue on that trend and provide a very service-oriented, easy-to- navigate Web site. It's not necessarily a huge project, but we are constantly improving it and examining how the clients are getting value.
Enhance Knowledge ManagementOur Discovery [knowledge management] system took first place in the SourceMedia 2007 Fund Operations Awards. We publish on Discovery those things that call center people have been able to answer for a client -- tax questions, deadlines and timelines. We are continuing to enhance it, to add more content, to categorize additional content, to make it easier to find certain things. As usage continues to increase, we'll create highlights, what things people should look at the most.
Build Global CapabilitiesWe continue to enhance our global capabilities, especially in India and China.