Managing technology is an important element of running a business. It involves organizing, planning and controlling various tasks to meet organizational goals. The role requires leadership in communication, as well as strategic decision-making. Professionals in business management technology use their skills to oversee all aspects of an organization from operations and finance to human resources and marketing.
Technology executives are constantly searching for new tools that can help them achieve their IT strategy and improve the effectiveness of their technology functions. Technology business management (TBM) is an application that is growing in popularity. TBM is not a technology solution but a method of optimizing IT to meet general goals of the company. Its ten elements give managers complete transparency into their technology investment regardless of their delivery model or tech stack.
TBM improves visibility and aligns the technology team to the goals of the larger company. It makes it easier to react quickly to any threats or changes in the market. It assists leaders in planning the day-to-day operations and governance. JP Morgan Chase, for instance, has utilized TBM to align the IT department with its fundamental goals and its strategy.
TBM allows IT executives to better manage costs and provide value to their organization. TBM lets IT leaders to allocate their resources in accordance with the impact of business and desired outcomes. They can cut costs without compromising service quality. This method shifts IT from a cost center to an enabler of profit.