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The Business of IT: How to Improve Service and Lower Costs by Tim Raducha-Grace, Robert Ryan

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4. IT Financial Management: The Business of IT

Financial management of Information Technology (IT) resources is a powerful process to improve service while lowering costs. Simply stated, IT financial management is the process of overseeing IT expenditures, with the goal of providing both business units and IT departments with a common framework to evaluate services and plan for future investments to optimize IT spending.

As technologies become more complex, the financial management of IT investments has proven challenging. Many IT organizations lack financial management experience. Similarly, business units often lack a clear understanding of the technology enabling a given IT service. As a result, many organizations find it challenging to develop ...

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