Technology management is an essential element of running a company. It involves organizing, planning, and directing and coordinating various tasks to achieve the organizational goals. The role requires leadership as well as effective communication and decision-making. Professionals in business management technology use their expertise to manage all aspects of an organization from finance and operations, to marketing and human resources.
Technology leaders are always looking for new tools to assist them in implementing their IT strategy and improve the efficiency of their tech functions. One tool that is growing in popularity is technology business management (TBM). TBM is not a technology solution, but a framework for optimizing IT to meet broad-based goals for the company. Its ten elements give managers complete transparency into their technology investments regardless of the delivery model or tech stack.
TBM improves visibility and aligns the team of technology with the objectives of the business. It allows the company to respond more quickly to new threats and changes on the market. It helps leaders plan daily operations and governance. JP Morgan Chase, for example, utilized TBM to align the IT department with its core goals and strategy.
TBM lets IT executives to better manage costs and provide value to their organization. TBM lets IT leaders to allocate their resources according to the real-world impact of business and desired outcomes. It can help reduce costs without compromising service quality. This method transforms IT from a cost center to an enabler of profit.
