
“Running IT like a business” is an idea that has been around for years. With the increasing integration of technology into the business, the expectations of how IT is managed are rising. In order to meet those expectations, IT management must understand their true cost of IT.
No surprises here – isn’t this the basis for running a business? Why, then, is it such a challenge? Here are the typical reasons why:
- Many IT leaders make the mistake of treating IT costs as an annual budget exercise.
- Too often, costs land in a particular budget for convenience more than logic. And costs, on their own, are of limited use for purposes of managing a service.
How can you begin to face this challenge? The first step in “running IT like a business” must be to align costs with the services provided.
- Understanding the component costs of these services – server hardware, server management, service desk, desktop support, etc. – is necessary in order to build a reasonably accurate service cost.
- It is important to understand that “the Business” has a fairly simplistic view of IT services; Applications, Service Desk, Collaboration capabilities (video conferencing, web conferencing, etc.), etc. Effectively describing what is in a service as well as the drivers of cost in that service is necessary for success in any business. IT is no different.
In order to remain relevant, the IT organization must begin paying more than simple lip service to the idea of “running IT like a business”. This begins with an understanding of its costs of services provided.
To learn more about what Wavestone US can do for your company, visit http://www.wavestone.us/capabilities/.
Wavestone Named to Forbes World’s Best Management Consulting Firms 2023 List
Sep 19, 2023
Forbes has once again recognized Wavestone in its annual “World’s Best Management Consulting Firms 2023” list. Read our blog for more information about the ranking and Wavestone’s award-winning business and technology consulting services.
Learning Data and GenAI: Securing the Source of Generative Intelligence
Sep 14, 2023
Integrated Operational Resilience (OR) has become critical to operational integrity as businesses grapple with economic uncertainty and rising compliance requirements. Tailored Managed Information (MI) models can enable automated, data-driven OR capabilities by centralizing resilience data for stakeholders, enabling accelerated and educated remediation of OR issues as they occur. Learn more about MI models and their 3 core capabilities in our blog.
Have a Question? Just Ask
Whether you're looking for practical advice or just plain curious, our experienced principals are here to help. Check back weekly as we publish the most interesting questions and answers right here.