Technology management is an essential component of running a business. It involves organizing, planning and controlling various activities to meet organizational goals. The role requires leadership efficient communication and strategic decision-making. Business management technology professionals use their expertise to supervise every aspect of a business from finance and operations, to marketing and human resources.
Technology leaders are always looking for new tools that will aid them in implementing their IT strategy and improve the efficiency of their tech functions. Technology business management (TBM) is a tool that is gaining popularity. TBM is an efficient turbotaxsmallbusiness.com/how-to-choose-a-pos-system-for-a-small-business framework that optimizes IT to meet the company’s goals, not as a solution. The ten components of TBM give executives full visibility into their technology investments, regardless of the tech stack or delivery model.
TBM improves the visibility and alignment of the technology team with the objectives of the overall company. It enables the company to respond quickly to changes and threats in the market. It assists leaders in planning the day-to-day operations and governance. JP Morgan Chase, for example, used TBM to align the IT department with its fundamental objectives and its overall strategy.
TBM lets IT executives to better manage costs and increase the value of their organizations. TBM lets IT leaders to allocate their resources in accordance with the real-world impact of business and the desired outcomes. This enables them to lower costs without compromising on basic quality of service. This process transforms IT from being a cost center to becoming an enabler of profits.