Many companies have embarked on IT standardization initiatives with specific benefits in mind, but some projects fail dramatically whereas others are very successful. The research suggests that successful company standardization projects require good governance and management across distinct lifecycle phases: selection, implementation, and use and change. The authors present a case study from a financial services company to demonstrate effective practices that have led to significant financial benefits, to improved service delivery and support, and to a more stable IT environment. In addition, the authors discuss how an agile way of working could further improve standardization initiatives in organizations.