What Is IT Business Management and Why Does Your Business Need It?

IT Business Management (ITBM), also known as Strategic Portfolio Management (SPM), is essential for aligning technology with business goals. ITBM empowers IT departments to plan, organize, develop, direct, and assess a company’s technology and resources to meet business objectives. It also includes financial planning to manage these resources effectively. For large organizations, ITBM is crucial for demonstrating the value of technology investments and ensuring that IT services are delivered efficiently and effectively.

What Is IT Business Management?

ITBM is a suite of products within the ServiceNow IT Workflow that helps IT departments demonstrate value, rationalize investments, and allocate resources appropriately. It enables IT and business teams to collaborate on technology requests, ensuring efficient delivery of solutions. ITBM also helps IT teams become more agile and responsive to changing business needs.

Why Does Your Business Need ServiceNow IT Business Management?

For large enterprises, IT Business Managers handle a multitude of responsibilities, from managing technology investments to balancing IT budgets. Traditional methods often involve manual data gathering and analysis, which can be time-consuming and inefficient. ServiceNow ITBM automates these processes, enabling IT managers to quickly gather data, justify investments, and provide clear plans for technology upgrades. This not only saves time and money but also prevents unnecessary security vulnerabilities and other risks.

The Benefits of ServiceNow IT Business Management

ServiceNow ITBM focuses on improving the alignment of business services, accelerating service delivery, and offering comprehensive financial visibility. Key benefits include:

  • Visibility: Gain insights into projects, application portfolios, and business strategies to assess the value of IT services.
  • Flexibility: Manage and execute evolving projects by connecting investment plans to work plans.
  • Risk Mitigation: Enforce asset policies and compliance requirements.
  • Impact Analysis: Analyze risks and associate existing records for demands and projects.

ServiceNow IT Business Management Applications

  1. Performance Analytics
    • What It Is: A powerful application for reporting and analyzing business performance.
    • Benefits: Provides real-time insights, monitors performance, and pinpoints areas for automation and self-service.
  2. Demand Management
    • What It Is: Centralized location for managing strategic business requests for IT services.
    • Benefits: Informs executive decision-making, improves visibility, and integrates with other ServiceNow applications.
  3. Resource Management
    • What It Is: Enables resource managers to create plans, request and assign staff to projects, and track availability.
    • Benefits: Provides accurate views of resource availability, aligns resources with requests, and delivers consistent management.
  4. Project Portfolio Management (PPM)
    • What It Is: Suite of applications that improve IT development, including Demand Management, Resource Management, and more.
    • Benefits: Aligns investments with business goals, improves agility, and provides visibility into demand, resources, and projects.
  5. Application Portfolio Management (APM)
    • What It Is: Builds a comprehensive inventory of applications and identifies gaps and redundancies.
    • Benefits: Simplifies IT infrastructure, reduces costs, and invests in viable technology solutions.
  6. Agile Management
    • What It Is: Manages and tracks software development life-cycles using Agile principles.
    • Benefits: Manages stories across sprints, increases visibility into the development lifecycle, and optimizes resources.

Why Choose Now Compiler for IT Services?

Now Compiler excels in providing innovative and efficient ITBM solutions tailored to your business needs. Our expertise ensures that your ITBM processes are seamlessly integrated, highly functional, and user-friendly. We offer:

Innovative Approaches: Leveraging the latest technologies to enhance ITBM functionality and user satisfaction.

Customized Solutions: Tailored ITBM implementations that align with your business objectives.

Expert Support: A dedicated team to guide you through every step of the development process.