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<p><span>Most enterprises understand the benefits that can be derived from increasing IT cost transparency, managing IT like a business, and improving the interaction between IT and business units. Yet, despite the inherent understanding behind these admirable goals, many IT financial management initiatives and implementation projects fail to live up to expectations. They either miss their expected goals, or worse, completely fail.</span></p>
With reference to:Managing IT like a business, and improving the interaction between IT and business units.
Despite the inherent understanding behind these admirable goals, many IT financial management initiatives and implementation projects fail to live up to expectations. They either miss their expected goals, or worse, completely fail.
Industry analysts have substantiated this claim for years, indicating that on an IT management that there is a gap between desired goals and operational execution; expectations are not met.
Applying discipline to the IT financial management {ITFM) process is a big part of the solution to this pervasive problem.
Applying discipline to the IT financial management {ITFM) process is a big part of the solution to this pervasive problem. In fact, a robust financial management process is the cornerstone of improving and sustaining IT management maturity. The successful implementation of any IT financial management solution requires an understanding of the difference between what you are implementing and how you and your team are going to implement it. Just as important—for everyone on your team—is to grasp which one comes first. In other words, an enterprise needs to fully understand the imperative (the “what”) versus the means (the “how”) to effectively increase maturity in IT financial management processes in order to attain a desired stage of IT maturity.
Agree with Mr VENKITARAMAN and Mr Mohammed
