How Principal Financial's CIO tackles the tech debt problem that's vexing many big companies [Fortune]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Fortune
eliminate redundant and obsolete technology—the company's chief financial officer always finds funding. It all hinges on making a strong case for the extra spending. “If you're gonna say, ‘I just need to get rid of this tech debt because I want this new stuff,' and you can't articulate a business benefit, no CFO is going to fund that,” she says. The 145-year-old insurance company has needed a lot of tech investment lately to tear down the walls between its many business units. Historically, customers would have to speak to multiple agents to get the help they needed for retirement services, benefits, and asset management. A retirement services agent, for example, had no way of knowing if the client was also an investments customer. Inevitably, many customers ended up frustrated. To fix the problem, Principal ripped out the contact center tools and systems that it built to separately serve each division. In its place, the company developed new technology that gave all agents th
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