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Managing technology is an important part of running a company. It involves organizing, planning, directing and controlling various tasks to achieve the organizational goals. Leadership, effective communication, and strategic decision-making are required to perform this job. The people who work in business management technology use their skills to oversee every aspect of the business, from finance and operations to marketing and human resources.

Many tech leaders are looking for new tools that can help them to implement their IT strategies and maximize the performance of their technology function. Technology business management (TBM) is an application that is growing popularity. TBM is an organizational framework that optimizes IT to meet the company’s goals, not as a solution. The ten components of TBM give executives total visibility into their investments in technology regardless of their technology stack or delivery model.

TBM improves visibility and alignment of the technology team to the goals of the larger company. It allows the company to respond quickly to threats and changes in the market. It helps leaders plan the day-to-day operations and governance. For instance, JP Morgan Chase used TBM to align its IT department with the organization’s main goals and strategies.

TBM additionally allows IT executives to manage costs and offer more value to the company. Through a process of collaboration in budgeting, TBM enables IT leaders to allocate resources based on real-world business impact and desired outcomes. They can cut costs without compromising the quality of service. This method transforms IT from a cost-center to an enabler of profits.