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What is a service portfolio?
Service Portfolio comprises of the complete list of services provided and managed by an IT service provider to an organisation that outsources its IT services management activities. It comprises of the exhaustive list of all services that are ongoing, in the pipeline or have already been delivered.
Globally, Travel, Transportation and Logistics (TTL) organizations face a myriad of challenges characterized by a spaghetti IT landscape driven by strong dependence on legacy systems, constant inorganic growth through M&As and de-centralized IT systems. This ultimately leads to lack of visibility into the IT landscape and hinders the IT organization’s ability to remain agile to business needs.
The majority of IT departments that have been around for any length of time with a reasonable scale of operations would probably have to deal with issues relating to what is known in the industry as "application spaghetti." Depending on the platform or architecture that is the flavor of that time period, a variety of in-house, externally sourced, or packaged applications will have been put in place and tweaked over time to try and align with specific business processes.
With customers holding multiple products sticking with the company longer than a single product customer, insurers have been bundling and cross-selling products, which also provide them an opportunity to earn additional revenue. While a number of these insurers position the value of these bundled up offering as “saving money” and lucrative “discounts”, there is an urgent need for a market differentiator.