Managing technology is an important element of running a company. It involves planning, organizing and directing various activities to achieve the organizational goals. Leadership, effective communication, and strategic decision-making are the prerequisites for this position. Business management technology professionals utilize their skills to oversee every aspect of a business from operations and finance to human resources and marketing.
Many technology leaders are searching for new tools that will allow them to fulfill their IT strategy and improve the performance of their technology function. One tool that is growing in popularity is technology business management (TBM). TBM is not a solution for technology but a method of optimizing IT to deliver on general goals of the company. Its ten elements give leaders complete visibility into their investments in technology regardless of their tech stack or delivery model.
TBM increases the visibility and alignment of the technology team to the goals of the wider company. It allows the company to respond rapidly to threats and changes in the market. It also helps leaders plan for governance and day-to-day operations. JP Morgan Chase, for example, used TBM to align the IT department to its main objectives and its overall strategy.
TBM lets IT executives to manage their costs better and increase the value of their business. Through a collaborative budgeting process, TBM enables IT leaders to allocate resources based upon real-world business impact and desired outcomes. This helps them reduce costs without compromising the basic service turbo tax small business levels. This method shifts IT from an expense center to an enabler of profit.
