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Are You Making the Most of Your IT Spending?
 Almost
every business spends money on IT equipment
and services each year, and the use of IT is
a key part of making your business run
smoothly and reliably. Yet managers and IT
directors are still failing to measure the
contribution that IT makes to their
business, even though failing to do so
hinders success and prevents budgets being
agreed.
Research by IT Business Management company
Touchpaper shows only 40% of UK businesses
formally measure how IT is helping to make
to business goals, or track key performance
indicators (KPI’s) such as cost management,
revenue growth, and service levels.
The research also found that the main reason
for the lack of IT measurement is the deep
seated perception that it is a cost rather
than an asset; and that IT departments are
run by people more interested in technology
than business. While this may have been true
10-15 years ago, it is certainly not true
now; and if you do hire someone who
is more interested in technology than your
business, you probably need to take a long
look at your recruitment process!
The research backs evidence from a previous
survey by MIT that found businesses with
above average IT management had 20% higher
profits than those with poor IT management.
This shows the importance of managing and
measuring IT effectively.
If you want to make the most of your IT
money, then you should look at how you can
measure the contribution they make to your
business. It’s not a particularly time
consuming or expensive task, and it could
have serious benefits for your business in
the long term.
Find out more about how IT can benefit your
business in our Internet and Technology
portal here.
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