To align IT initiatives with business strategy, today’s IT executives must ensure that IT spending is optimized to achieve business goals. The TBM framework (Technology Business Management) can help here.
TBM is a flexible framework for integrating IT into the entire company. By implementing TBM, your company can better understand IT costs and expenditures, and find ways to reduce costs and inefficiencies by uncovering unnecessary expenses that are inconsistent with corporate strategy. Companies using TBM can drive greater transparency between IT and business and provide hard data showing how IT spending benefits the entire company and specific business goals.
“TBM is about bringing many employees within the IT organization and within the business units to one side about expenses, resources and priorities across IT,” says Jarod Greene, General Manager of the TBM Council. “This means not just understanding the project portfolio or capital spending on IT. It’s about managing both run-the-business and change-the-business expenses. “
If you want to integrate the TBM framework into your business to get more transparency about IT costs and spending, here are some tips to make the transition easier.