How to Improve the Relationship Between Technology and Finance

Email     |     Share  
1 | 2 | 3 | 4 | 5 | 6 | 7
Next Next

Supplement Results with Key Costs and KPIs

Make sure to include case studies where you can, especially those that include numbers detailing growth as a result of the project. For example, if you’re suggesting that existing server hardware be replaced, it would be best to include:

  • Age of current hardware and expected life span
  • Cost of maintenance – has it grown over time as more maintenance had to be done and parts replaced?
  • Expected cost when existing hardware breaks down irreparably, if new hardware is not in place. Include man hours in emergency fixes and delayed work, hardware costs to get the company back up and running as usual.
  • Any other metrics that display the need for the project.

Growing a technology company isn’t only about raising new capital – it’s about wisely spending the resources you already have. No company of any size is immune to this principle, not even Google, as evidenced by its hire of all-star, Wall Street vetted CFO Ruth Porat, to rein in the behemoth company’s spending.

Porat’s hire this year indicates that the technology industry’s spending practices are maturing. It’s no longer only about funding and the fireworks of innovation. It’s time to plan for sustainability and long-term growth, and prepare for the financial needs of the company for decades to come.

As finance re-establishes its role in today’s maturing businesses, it’s time for the technology team to make some new friends. That friendship relies on learning how to consider projects from the perspective of asset allocation. The conversation starts with the project pitch, but will also rely on the relationship you’ve built with the department. In this slideshow, Henner Schliebs, vice president, Head of Global Finance Audience Marketing at SAP, has outlined what will be on finance leaders' minds while they review your proposal.

 

Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

 
More Slideshows

NETSCOUTShadowIT0x 6 Tips for Combating Shadow IT Once and for All

To mitigate the risks of shadow IT, organizations must demonstrate the necessary agility and high quality of complex service assurance that users are looking for. ...  More >>

IT_Man85-290x195 Business in the Front, Balance All Around: Working with Gen Z

In order to attract Gen Z talent, employers will need to take into account that this group of the workforce may expect a different set of benefits. ...  More >>

KavaliroITSkills0x 5 Essential Skills for the IT Leader

Successful IT leaders have to have very specific skills, but still know how to run a team, meaning they must master the so-called soft skills that are not taught formally. ...  More >>

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.