Controlling technology is a vital part of running a company. It involves organizing, planning, leading and coordinating various tasks to achieve the organizational goals. The job requires leadership as well as effective communication and decision-making. People who work in business management technology apply their skills to manage all aspects of an organization including operations and finance to human resources and marketing.
Technology leaders are always looking for new tools that can assist them in implementing their IT strategy and maximize the performance of their tech functions. One tool that is gaining popularity is technology business management (TBM). TBM is not a solution for technology but rather a framework for optimizing IT to meet all-encompassing goals of the business. Its ten elements give managers complete transparency into their technology investment regardless of their delivery model or tech stack.
TBM increases the visibility and alignment of the technology team to the objectives of the overall company. It allows you to respond rapidly to threats and changes in the market. It also helps leaders plan for governance and day-to-day operations. For instance, JP Morgan Chase used TBM to ensure that its IT department was aligned to the company’s goals and strategies.
TBM helps IT executives to better manage costs and create value for their business. Through a process of collaborative budgeting, TBM enables IT leaders to allocate resources based on real-world business impact and desired outcomes. This enables them to lower costs without compromising basic services. This process transforms IT from an expense center to a profit-enabler.
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