Managing technology is a critical aspect of running a successful business. It involves planning, organizing, directing and directing various activities to achieve organizational objectives. The role requires leadership as well as effective communication and decision-making. Professionals in business management technology use their skills to oversee every aspect of an organization including operations and finance, to marketing and human resources.

Many tech leaders are looking for new tools that can help them to execute their IT strategies and maximize the performance of their technology function. Technology business management (TBM) is a tool that is gaining popularity. TBM is not a solution for technology it is a framework that assists in optimizing IT to deliver on all-encompassing goals of the business. Its ten components provide leaders small business platforms with full visibility into their technology investments, regardless of the technology stack or delivery model.

TBM increases visibility and aligns the team of technology to the goals of the business. It enables the company to respond quickly to changes and threats on the market. It also assists leaders in planning for governance and day-to-day operations. JP Morgan Chase, for example, utilized TBM to align its IT department with its fundamental goals and its strategy.

TBM can help IT executives to manage their costs better and create value for their company. Through a collaborative budgeting process, TBM enables IT leaders to assign resources based on the real-world business impact and desired outcomes. They can cut costs without compromising service levels. This approach transforms IT from a cost-center to an enabler of profit.