Controlling technology is a vital aspect of running a business. It involves organizing, planning and controlling various tasks in order to achieve organizational goals. The job requires leadership efficient communication and strategic decision-making. Professionals in business management technology use their skills to oversee every aspect of an organisation from finance and operations, to human resources and marketing.
Technology leaders are constantly looking for new tools that will aid them in implementing their IT strategy and improve the performance of their tech functions. Technology business management (TBM) is an instrument that is growing popularity. TBM is an efficient framework that optimizes IT to meet the company’s goals, but is not a solution. Its ten components give leaders total visibility into their technology investments regardless of the technology stack or delivery model.
TBM improves visibility and aligns the technology team with the goals of the broader company. It makes it easier to respond rapidly to threats and changes in the market. It also assists leaders in planning for governance and day-to-day operations. JP Morgan Chase, for example, utilized TBM to align its IT department with its fundamental objectives and its overall strategy.
TBM can also help IT executives to control costs and deliver greater value to the business. TBM allows IT leaders to allocate their resources based on the impact of business in real-time and the desired outcomes. This enables them to lower costs without compromising basic services. This method transforms IT from a cost center to a profit enabler.