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Creating IT Financial Accountability Across the Organization
Insight into IT Costs and Services Enables CIOs, CFOs, Business Unit Managers and Business Partners to Make Strategic Technology Decisions
Rising costs and greater demands with fewer resources are spurring many businesses to look at their IT investments and identify opportunities to lower or control IT spending – without impacting services delivered to business users. At the same time, CIOs are pressured with providing the highest quality service at the best possible price while also demonstrating the value of IT to their internal customers. Additionally, there is continual pressure to invest in new technologies to meet changing business needs and maintain a competitive advantage. However, the CIO is not alone in managing the consumption and total expense of IT. It requires the organization to revise their behavior and attitude regarding their use of technology. To do that effectively, organizations need IT financial accountability with accurate insight into technology budgets and forecasted expenses.
Yet, for an expense that typically represents a significant portion of company revenues, most organizations have little to no visibility into how IT spending is linked to the business strategy and economic value. While distributing costs evenly across the organization has been a mainstay of many organizations’ IT chargeback model, it does little for the business manager trying to understand the cost of IT in relation to the value of the products or services they are receiving. By not having detailed insight into the IT products they are consuming, with Total Cost of Ownership (TCO) of all their associated costs, it becomes difficult, if not impossible to forecast or control consumption.
In this White Paper, we will explore how organizations can increase IT financial transparency, and enable key stakeholders to make more data-driven decisions. By providing visibility into costs of technology products and services through an automated approach to IT technology financial management, organizations can facilitate change, strengthen the dialogue between IT and the business units, positively affect consumption behavior, and ultimately change the way people use technology.
Be sure to read Creating IT Financial Accountability Across the Organization today!