Adopt a World-Class ITFM Taxonomy

Many IT departments struggle with their finances, namely making decisions about where their money should go, answering questions about where their money has gone, and demonstrating the relationship between IT cost and IT value.
Too often, these struggles are rooted in fundamental problems with the IT financial data itself.

Our Advice

Critical Insight

The causes of poor IT financial data are myriad but can be boiled down to three general issues: poor data reliability, poor data usability, and poor data availability.
Underlying this is the fact that IT and Finance often don’t understand one another, so they get stuck on basic communication problems and rarely progress to rectifying their shared financial data challenges.

Impact and Result

Take the first critical steps in rehabilitating and leveraging your IT financial data:

Know what IT financial data is, its points of origin, and where it lives organization.
Develop a meaningful taxonomy to classify and organize your IT financial data using Info-Tech’s IT Cost Model as a base.
Systematically implement your taxonomy in collaboration with your Finance department as part of your overall IT financial management program.

Adopt a World-Class ITFM Taxonomy Research & Tools

1. Develop a Fit-for-Purpose IT Financial Taxonomy Deck – A systematic guide for creating and implementing an IT financial data taxonomy to make it more organized, transparent, and usable.

This systematic guide will help you create and implement an IT financial data taxonomy to make it more organized, transparent, and usable. Take this critical first step in rehabilitating your IT financial data.

2. IT Financial Data Taxonomy Workbook – An Excel-based tool for documenting and organizing the outcomes of your IT financial data taxonomy development and implementation efforts.

This Excel workbook provides a place to document the outcomes of your IT financial data taxonomy development and implementation efforts, including data sources, use cases, data improvement activities, and the taxonomy itself.

3. ITFM Taxonomy Presentation & Implementation Plan – A template to present to stakeholders

This template is comprised of four sections:

Section 1: Our ITFM Taxonomy. This section contains the objectives you created and tier 1 of the taxonomy you configured in phases 1 and 2 of the Adopt a World-Class ITFM Taxonomy blueprint. You can document tier 2 of your taxonomy in the appendix of this template.
Section 2: Current Spending by Taxonomy Lens. This section shows the results of your vendor and workforce mapping in phase 2 of the blueprint. It uses the outputs of Info-Tech’s ITFM Taxonomy Workbook.
Section 3: Implementation Next Steps. This section contains the outputs of the activities you completed during phase 3 of the Adopt a World-Class ITFM Taxonomy blueprint.
Section 4: Appendix: Full Taxonomy. Where the first section only contains tier 1 of your taxonomy, you can use the appendix to communicate both tiers 1 and 2 (or more) of your ITFM taxonomy.

Member Testimonials

After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.

8.0/10

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$18,499

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Testimonial

University of York

Guided Implementation

8/10

$18,499

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Take the crucial first step in getting your IT financial management house in order.

About Info-Tech

Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.

We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

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A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.

Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.

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