Published: 20 April 2023
CIOs will find it much easier to secure funding, optimize cost, and demonstrate value, if they excel at five IT financial management capabilities. CIOs must assess and improve IT capabilities across each of these fundamental disciplines to maximize their ability to impact business outcomes.
CIOs often struggle with fundamental IT financial management (ITFM) capabilities, either because the capabilities’ link to wider business objectives is unclear, or because they believe financial management to be finance’s responsibility.
Core ITFM activities are often only sporadically prioritized in reaction to external events rather than embedded as an ongoing discipline.
Data shows that ITFM competence and maturity directly correlate with business outcome delivery.
CIOs responsible for technology finance, risk and value management should:
Maximize business outcomes by ensuring the five ITFM fundamentals elaborated in this research are prioritized as key competencies of the IT function.
Improve IT’s impact on the
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