IT leaders must establish a framework to gain complete financial transparency before they can effectively Run the Business of IT and elevate their status from service provider to strategic partner.
For many executives, IT has become the proverbial ‘black box’ fueling the perception that technology is a cost center rather than a competitive differentiator for the business. CIOs often struggle to demonstrate how IT spend aligns with strategic priorities resulting in consistent pressure to reduce costs and improve the quality of key IT Services (i.e. ‘Do more with less’). In response to these challenges, IT leaders must adopt a financial management framework to gain complete transparency across siloed portfolios and make smarter decisions to maximize ROI for every dollar invested in technology.