Published: 07 April 2022
To manage IT finances and communicate IT’s value, CIOs must master multiple views of IT finance. Doing so is critical to building the transparency to provide information needed to demonstrate value, communicate the financial impact of their investments and elevate the strategic nature of IT.
IT budgets are often only created and managed with a narrow view of IT spending, driven by enterprise financial reporting imperatives for operating expenses and capital asset investments (an opex-based budget and a list of projects).
Different audiences require views of IT that are tuned to their specific needs and level of understanding.
Business leaders want to understand IT costs in relation to applications or services that are not available directly with a general ledger (GL) view of IT spend.
Funding support of IT projects and services requires increasingly advanced financial transparency for decision making to effectively balance conflicting priorities.
To evolve
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