Organization-wide immaturity around technology expenditure and investment decisions is often behind much of the pressure that IT leaders experience.
- IT investment decisions are often made based on instinct, not data.
- There’s not enough flexibility in the system to pivot and reallocate IT funds when business conditions change.
- IT is still generally seen as a cost center, not a strategic partner, and has struggled to communicate its value to its business stakeholders in terms they understand.
- Conversations about technology financials aren’t happening nearly enough, partly due to lack of experience and expertise on the part of IT management in how finance works and poor understanding on the part of the business about what technology is, does, and can do.
- Other key factors are hampering constructive IT financial management conversations, including an absence of adequate governance mechanisms, low visibility into the true nature of technology spending across the organization, and difficulty linking IT costs to business benefits.
Impact and Result
- Mature your IT financial management program into a continuous and sustainable process that enables greater transparency, meaningful conversations, and better decision making.
- In this ITFM capstone report, learn about the state of ITFM today and how we got here, core principles to inform how you think about ITFM, and a vision of what good ITFM looks like.
- Get started on your ITFM maturity journey by leveraging Info-Tech’s approach and collection of resources and services.