Technology management is an essential element of running a business. It involves planning, organizing, directing and coordinating various activities to achieve organizational objectives. The job requires leadership, effective communication and strategic decision-making. Professionals in business management technology use their expertise to manage every aspect of an organization from operations and finance to human resources and marketing.

Technology leaders are constantly looking for new tools that can help them achieve their IT strategy and improve the performance of their tech functions. Technology business management (TBM) is a tool that is gaining in popularity. TBM is an approach to optimize IT to achieve the company’s goals, not as a solution. The ten components of TBM give executives full visibility into their technology investment, regardless of the technology stack or delivery model.

TBM improves visibility and aligns the team of technology with the objectives of the business. It allows you 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 example, utilized TBM to align its IT department to its main goals and strategies.

TBM allows IT executives to manage their costs better and increase the value of their organization. TBM lets IT leaders to allocate their resources based on the real-world impact of business and desired outcomes. This helps them reduce costs without compromising the basic service levels. This approach moves IT from an expense center to an enabler of profit.

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