GE Industrial Systems Nets CIO Magazine Top 100 Companies Award for Resourcefulness PLAINVILLE, Conn.--(BUSINESS WIRE)--Aug. 19, 2003--GE Industrial Systems (GEIS), a $6 billion unit of the General Electric Company (NYSE: GE), is the proud winner of the prestigious CIO 100 award from IDG's CIO magazine.
The award recognizes companies who have demonstrated resourceful use of IT systems, staff and budgets. According to Abbie Lundberg, Editor in Chief, CIO magazine, Maximizing return on investment is a priority when times are tight, and these companies excel in gathering greater value from limited resources.
The recipients of this year's CIO 100 were selected through a comprehensive three-step process. First, companies filled out an online application form. In addition, CIO editorial staff and members of its expert panel nominated companies they deemed best fit the award criteria. A team of CIO editors and writers reviewed the application forms and expert recommendations and voted on the final 100.
For its award, GEIS relied on the rigor of Six Sigma methodology, paired with a global mindset, to drive cost reduction while increasing productivity. By migrating 80 percent of global platform resources to technical resources located in India and eliminating higher-cost outside resources, GEIS was able to reduce its costs by 38 percent, while increasing process knowledge, technical skill sets, and employee retention. Today nearly 65 percent of the IT staff operates out of its India Business Center allowing GEIS to maintain aggressive program levels at a time of cost constraints.
Over the last three years, GEIS has reduced IT operating costs by 50 percent, from 4 percent of sales in 2000 to an impressive 1 percent of sales in 2003.
GE knows how to get the most from a challenging economic environment, states Stuart Scott, Chief Information Officer for GE Industrial Systems. We have always been a company that stands for progress and this award is a testament to our hard work, unyielding commitment to succeed, and determination to find new and better ways to achieve. It is our relentless drive, courage to take risks, and passion to succeed that makes GE people special. We are proud to receive an award that acknowledges and honors our 'Imagination at Work'.
Increasing utilization of e-business tools from 23 percent to over 50 percent, GEIS positively impacted customers by electronically enabling the ordering process. Twenty-four hours a day, seven days a week, customers can view product information, select products, place orders, and view order status and invoices, all with a point and a click. Centralizing information and streamlining processes, GEIS successfully manages the customer relationship, enables cross-selling, and simplifying the order process, all of which has driven sales growth for the business.
Despite constrained resources resulting from a tough economy and its impact on the business, GEIS set the aggressive goal of becoming the IT Employer of Choice. Gathering and assessing feedback from 700+ IT employees, GEIS identified three categories critical to employees: training, career management, and recognition. Over the last year, GEIS has taken measures to meet all of these employee requirements by launching the e-Learning Library, giving employees access to thousands of self-paced training modules; clearly defining and communicating core IT competencies, as well as technical career paths; and implementing a rigorous recognition program that rewards employees outside the yearly appraisal process.
In this tough economic climate, Scott understands that GE people make the difference. Our people drive change, and we need their creativity, initiative, and support to be competitive. It's imperative that they know we're listening and responding to their needs. We're making efforts to improve the business not only by implementing better, faster, more efficient IT systems and procedures, but also by improving the work lives of our employees, he said.
About GE Industrial Systems
GE Industrial Systems spans the globe as an industry leader in integrated industrial, electrical and security equipment, systems and services. The business brings to customers the latest technologies that are used to distribute, protect and control energy and equipment, and to provide premise management. GE provides innovative product and service solutions for commercial, industrial, residential and utility customers. For more information visit the website at: http://www.geindustrial.com.
About CIO Magazine
CIO magazine (launched in 1987) is published by CXO Media Inc. CXO Media serves CIOs, CEOs, CFOs, COOs, and other corporate officers who use technology to thrive and prosper in this new era of business. The company strives to enhance partnerships between C-level executives, as well as create opportunities for information technology (IT) and consumer marketers to reach them.
In addition to publishing CIO and CSO magazines, CXO Media produces www.cio.com, the CIO Insider, www.darwinmagazine.com, and www.CSOonline.com as well as Executive Programs, a series of conferences that provide educational and networking opportunities for corporate and government leaders. CXO Media Inc. is a subsidiary of IDG, the world's leading IT media, research and exposition company. IDG publishes more than 300 computer magazines and newspapers and 4,000 book titles and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 270 targeted websites in 70 countries. IDG is also a leading producer of 168 computer-related expositions worldwide and provides IT market analysis through 50 offices in 43 countries worldwide. Company information is available at www.idg.com.
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CONTACT: GE Industrial Systems
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