6 expert budgeting tips for IT leaders

IT budgets must not only reflect short-term strategic plans but also drive innovation. Here’s how to ensure you’re delivering tactical IT and services that produce true digital transformation.

The IT budget says a lot about its owners: whether executives have a roadmap for the future and whether they’re willing to pay for it, whether company leaders value innovation or whether they still see technology as only a behind-the-scenes function.

So what then, does your budget say about you, your IT department and the organization’s vision for its future? How much of the budget reflects business-as-usual, and how much goes toward innovation and digital transformation?

Sure, budgets must reflect the company’s strategic plans for the upcoming year by allocating money to those projects deemed high priority based on business goals and objectives, says Larry Wolff, president and COO of Ouellette & Associates Consulting in Bedford, N.H.

But the IT budget can do much more than that, if it’s put together using the right questions and tactics, according to Wolff, researchers, consultants and IT leaders. They say CIOs can use the budget as a tool to drive more innovation, with the aim of delivering not just tactical IT but the kind of technology services that produce true digital transformation.

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