In previous blogs, we’ve discussed the Technology Business Management framework, taxonomy, and model. But what are the benefits of Technology Business Management? We’ve gathered 7 for you, right here.
7 benefits of Technology Business Management
We’ve explained the need for Technology Business Management earlier: it offers a framework for understanding the relationship between the business’s primary processes and IT spending as IT becomes part of the business’s primary function. So, what are the benefits of Technology Business Management for your organization?
- You create a shared language for IT and the business with the Technology Business Management taxonomy: a standardized way to categorize and report IT costs.
- You create a common lens for IT and the business to look at innovation possibilities together.
- The Technology Business Management taxonomy allows you to compare your own costs and performances to your peers as well as plan, manage, and track investments.
- With a data-driven Technology Business Management model, you back value-focused conversations with metrics, reports, and analytics.
- You create transparency by showing the IT cost structures to the business.
- The Technology Business Management model allows you to plan ahead and align the business unit’s budgets with IT capacity to meet the organization’s IT needs.
- Technology Business Management allows you to optimize IT spending and offer innovative solutions without losing sight of the costs.
Not convinced of the benefits of Technology Business Management yet?
These benefits of Technology Business Management will optimize the running and growth of your organization. Not convinced yet? CostPerform offers a custom Technology Business Management template. Our cost & performance management software provides you the needed financial and operational tooling to implement the TBM framework within your organization.
The most important benefits of Technology Business Management with CostPerform:
- CostPerform produces a bill of IT to support and influence business demand.
- Our Technology Business Management template enables you to measure differences between business units, time periods, suppliers, and more.
- The template links to your technology costs.
- Maybe the most important benefit of Technology Business Management: “what-if” and predictive analyses.
In this blog, we’ve discussed the benefits of Technology Business Management. Want to know more? We’ve written 3 more blogs on TBM; you can find them here:
