A digital transformation propellant: Increasing IT business and financial transparency for better success
According to a Market Speed report by KMPG: “Eighty percent of revenue growth will depend on digital offerings and operations” by 2022. To handle this increased financial pressure, businesses will need to ready their IT operations to ensure they're not overspending on technology that isn't meeting their goals.
What does this mean for your software selection process? Just as in any other enterprise software selection, IT financial management and technology business management (ITFM/TBM) automation and modelling software solutions are only as effective as the education and support provided by the software partners.
This is why Centrax partners with ITBMO to modernise your IT financial management practice using EZTBM to overcome the “IT is too expensive perception”, drive value-based conversation with business, and support your digital transformation journey.
ITBMO helps build credibility for technology initiatives while yielding powerful insights for how to spend smarter over the long term.
Defining and communicating the value of IT for your organisation can be a challenging undertaking, so Centrax and its partner ITBMO can help you with insights tailored to your exact needs.
With EZTBM Clouding, you now have a unified view of your IT business performance and spending, not just cloud costs, with integrated ITFM reporting. See your data in one place to anticipate cost and usage-related problems, empower team members to improve outcomes with actionable data, and allocate costs effectively.
Track spend by service, application, and business unit, see costing trends over time, reduce cloud waste, and eliminate redundant technologies. Clouding is here to help you make not just smarter tech decisions, but business ones too.
The partnership with ITBMO enables Centrax Systems to help South African business bridge IT, business and finance disciplines and to help IT create real value. By leveraging intelligent technology business management practices, CxOs are empowered to accelerate their IT business decision-making – ultimately enabling them to run IT operations more like a business. We help CxOs to:
Simplify and modernise IT business and financial management by advising CIOs to better align their IT financial management with the “IT-as-a-service” business model and help them modernise and transform IT from a cost centre centric focus to a value creator.
Meet the objectives of the financial leaders. We also advise CFOs on taking IT cost accounting, budgeting and forecasting practices to the next level to help meet corporate financial objectives and help fund innovation.
Improve business relationship management. Assist IT teams to build better relationships with other lines of business to ensure that IT’s business value is captured, optimised and recognised.
We help companies adopt fair charge-back and show-back methodologies to promote a culture of cost awareness with regards to IT services and products and drive accountability.
Centrax’s ITFM Practice is geared to build the TBM Office, drive consistency, practice and accountability, guide service and application owners to build a service-consumption based cost model, drive cost transparency at financial, IT and business level.
With people focused on mitigating the effects of COVID-19, managing IT operations is likely not a priority.
At some point, normalcy will resume, and you will need to respond to the impact of COVID-19 on your business. For example, in the short term, you may be cutting software spend to extend your runway. This may seem like a smart financial move, and it may be. In the long term, however, it could cause greater challenges for your IT and business operations. Therefore, you'll need to consider how you will evolve as you navigate the current pandemic.
Talk to our experts and get full visibility into your business operations and tech spend now and beyond, so your business can thrive.