Stewart Information Services Corporation Ranked 34th on the 2010 InformationWeek 500
Stewart honored for innovative strategy and achievements in business technology
HOUSTON (Sept. 20, 2010) – Stewart Information Services Corporation (NYSE-STC) is pleased to announce that InformationWeek recently ranked Stewart 34th on the 2010 InformationWeek 500. Announced on September 14, 2010 at the InformationWeek 500 Conference gala awards ceremony held at the St. Regis Monarch Beach Resort in Dana Point, CA, the InformationWeek 500 honors 500 of the nation's most innovative users of business technology.
InformationWeek recognized Stewart for its aggressive two-year IT transformation to shift the company’s IT toward business enablement and partnership. The four-step transformational process, driven by Murshid Khan, senior vice president and chief information officer at Stewart, aimed to (1) align IT strategies with business plans, (2) establish an enterprise IT governance structure, (3) increase IT efficiency and effectiveness, and (4) reduce costs. This four-tier approach focused on realigning the organization, consolidating and replacing back-office applications, stabilizing and consolidating infrastructure, and centralizing customer care centers.
The measures proved successful, helping to reduce IT support costs by 30 percent. These savings helped to fund additional strategic projects for Stewart, while increasing average customer satisfaction from IT support to a 93 percent rating. In addition to the company being recognized, Khan will also be featured in an upcoming CIO Profile in InformationWeek, spotlighting his career, vision, and insight.
“We are honored that InformationWeek has acknowledged our IT department’s impressive accomplishment in transforming our organizational model,” noted Matt Morris, president of Stewart Professional Solutions, Stewart’s business group providing best-in-class support services to Stewart Title Co. and Stewart Title Guaranty Co. and their affiliates. “With the support from company leadership and the commitment of our IT team to implement this multifaceted initiative, we have been able to successfully shift our business structure. The accolades received from the InformationWeek 500 are reinforcement that our achievements are significant.”
“For 22 years, the InformationWeek 500 has honored the most innovative users of business technology,” said InformationWeek Editor In Chief Rob Preston. “As we start to emerge from the worst recession in decades, the IT focus is now on driving growth—new sources of revenue, new relationships with customers, even new business models. This year’s ranking placed special emphasis on those companies and business technology executives leading that charge.”
InformationWeek identifies and honors the nation's most innovative users of information technology with its annual 500 listing, and also tracks the technology, strategies, investments and administrative practices of America’s best-known companies. Top winners have included: CME Group, Conway, National Semiconductor, Kimberly-Clark, Hilton Hotels and Unum. The InformationWeek 500 rankings are unique among corporate rankings as it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.
Additional details on the InformationWeek 500 can be found online at www.informationweek.com/iw500/.
Stewart Information Services Corporation (NYSE-STC) is a customer-driven technology-enabled, strategically competitive real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and in international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com, subscribe to the Stewart blog at http://blog.stewart.com or follow Stewart on Twitter @stewarttitleco.
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