A Recipe for Success: Optimizing IT for Financial Value

GettyImages-479204066It goes without saying that we strive to be successful, both personally and professionally. When it comes to the latter, how can you be sure that the decisions you’re making are leading your business down the path of financial success?

The answer can be found in how you’re evaluating the decisions you’re making and ultimately adjusting to those results.

Enterprise Management Associates (EMA) found a direct link to the number of metrics in play and businesses and organizations who saw themselves as ‘more successful’ in optimizing IT for financial value.

The top three priorities were:

  1. IT CapEx costs
  2. The cost of delivering IT services internally
  3. IT OpEx efficiencies

When asked about the main challenges and hoped-for benefits of optimizing IT for financial performance, the number one answer to each respective question on the EMA survey was improved operational efficiencies.

So what’s the recipe for success? EMA’s data suggests groups can become more successful by focusing their efforts on the following areas:

  • IT Budget – 38 percent of successful organizations had an IT budget that grew more than 50 percent
  • Organizational values – Single coordination across silos, IT executive suite leading the way, CEO-level involvement
  • Discovery – More discovery/inventory tools overall, real-time updating, devote more time to reconciling data discrepancies
  • Service modeling – CMDB or a CMS deployed and ADDM capability deployed
  • Automation – More automation technologies deployed
  • Service catalog/app store – Least successful organizations don’t offer these option
  • Audit – Those who spent more time preparing for audits felt they were prepared for security-related vulnerabilities
  • Business technologies and analytics – Analytics for IT impacts on business outcomes, analytics in support of partner-related business process optimization, workflow automation for processes for linking business and IT stakeholders, and IT governance targeting
  • Metrics – Most successful organizations have at least five metrics in place, versus two for the least successful
  • Challenges – Tackle challenges such as lack of IT-to-business stakeholder dialog, fragmented technologies, sharing data effectively across IT silos, associating cost data with other parameters

EMA suggests using this data to develop a personalized plan for your organization. See how LANDESK can help you tackle some of these challenges and achieve greater value in your IT.

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