The management of technology is a crucial aspect of running a business. It involves planning, organizing, directing and controlling various actions to meet the goals of the organization. The role requires leadership efficient communication and strategic decision-making. Professionals in business management technology use their skills to oversee every aspect of an organisation from operations and finance to marketing and human resources.
Many technology leaders are searching for new tools that can help them to fulfill their IT strategy and optimize the efficiency of their tech function. One tool that is growing in popularity is technology business management (TBM). TBM is not a technology solution it is a framework that assists in optimizing IT to deliver on overarching company goals. Its ten components give leaders full visibility into their technology investment, regardless of the delivery model or tech stack.
TBM increases visibility and aligns the team of technology with the objectives of the company. It helps to respond more quickly to new threats and changes on the market. It helps leaders plan governance and day-today operations. JP Morgan Chase, for instance, has used TBM to align the IT department to its main objectives and its overall strategy.
TBM can help IT executives to better manage costs and provide value to their company. Through a process of collaboration in budgeting, TBM enables IT leaders to allocate resources based on actual business impact and desired outcomes. This helps them reduce costs without compromising basic services. This strategy shifts IT from a cost center to an enabler of profits.