IDG's CIO magazine announced that GE Capital received two notable CIO 100 awards for its innovative programs and solutions that help customers across the globe achieve their business goals in 2014.
The 27th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT). GE Capital was recognized for two innovative IT projects—one using big data and analytics to improve commercial fleet management and the other introducing new technologies to drive consumer adoption of mobile payments.
Based in Eden Prairie, MN, GE Capital's Fleet Services business provides commercial car and truck financing and fleet management services. Fleet Optimizer—a software application that combines predictive analytics, geospatial visualization and an enhanced user experience—helps optimize spending and utilization for vehicle fleets.
Fleet managers will be able to mine historical data and forecast future costs such as those related to fuel and maintenance. From there, they can drill down to perform "what if" analyses to model alternative outcomes. By easily identifying potential problem areas before they occur as well as potential cost savings and performance-improvement opportunities, fleet managers can take actions that may improve the return on investment of their fleets.
GE Capital's Payment Innovation Program, launched in the Czech Republic, introduced a series of mobile payment methods to consumers in that market, providing a more convenient way for them to conduct daily financial transactions, including Contactless Cards (no PIN required) and Payment Stickers (attachable by glue or keychain to a mobile phone).
This new payment program not only offered these customers convenience, choice and flexibility to manage their financial transactions with the method of their preference, but also, through improved security, it lowered the amount of fraud losses for the company. GE Capital is the only commercial organization to currently offer all contact-less payment options to the Czech market.
The 2014 awards mark the sixth consecutive year, and 18th year in total, that GE has been acknowledged for its innovative use of technology to drive value for customers and make a positive impact on businesses and consumers' lives.
"For 27 years now, the CIO 100 awards have honored the innovative use of technology to deliver genuine business value," said Maryfran Johnson, Editor-in-Chief of CIO magazine & Events. "Our 2014 winners are an outstanding example of the transformative power of IT to drive everything from revenue growth to competitive advantage."