Understanding the intersection of FinOps and IT Financial Management (ITFM) or Technology Business Management (TBM) |
Definitions:
Cloud FinOps is an evolving cloud financial management discipline and cultural practice that enables organizations to get maximum business value by helping engineering, finance and business teams to collaborate on data-driven spending decisions.
IT Financial Management (ITFM) is the oversight of expenditures that drives IT decision making required to deliver IT products and services. IT financial management helps an IT organization determine the financial value of IT services provided to its customers. The discipline is based on traditional enterprise financial and accounting best practices, such as mandating documentation of expenses and requiring regular audits and reports. However, IT financial management methods and practices are adapted to address the particular requirements of managing IT services and solutions.
Technology Business Management (TBM) is a discipline that improves business outcomes by giving organizations a consistent way to translate technology investments to business value by defining the tools, processes, data, and people needed to manage the business of technology. Based on a set of standard taxonomy and ITFM best practices that can be used by technology, finance and business leaders, TBM enables organizations to react quickly to changing market dynamics, make data-driven decisions, and align organizations around a common business objective.
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All responses will be kept anonymous and no personally identifiable information will be published. Only Linux Foundation full-time employees will have access to the raw survey data. No raw data with personally identifiable information will be shared with anyone outside the Linux Foundation. Reviews are attributed to your role, company size, and industry. Responses will be subject to the Linux Foundation's Privacy Policy, available at https://linuxfoundation.org/privacy. We will compile anonymized data from this survey to provide trends and analysis.