Managing technology is an important element of running a business. It involves planning, organizing and controlling different activities to achieve organizational goals. The role requires leadership as well as effective communication and decision-making. The people who work in business management technology use their skills to manage every aspect of the business, from finance and operations to human resources and marketing.
Technology leaders are always looking for new tools to assist them in implementing their IT strategy and improve the performance of their tech functions. Technology business management (TBM) is a tool that is gaining in popularity. TBM is not a solution for technology it is a framework that assists in optimizing IT to achieve all-encompassing goals of the business. The ten components of TBM give executives complete transparency into their technology investments regardless of their technology stack or delivery model.
TBM improves the visibility and alignment of the technology team to the goals of the broader company. It allows the company to respond more quickly to threats and changes in the market. It also helps leaders plan for governance and day-today operations. For example, JP Morgan Chase used TBM to bring its IT department in line with the organization’s core goals and strategies.
TBM allows IT executives to better manage costs and provide value to their organizations. TBM allows IT leaders to allocate their resources in accordance with the https://www.turbotaxsmallbusiness.com/how-to-choose-a-pos-system-for-a-small-business/ impact of business and the desired outcomes. This enables them to lower costs without compromising service levels. This approach moves IT from an expense center to an enabler of profits.