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News Room > Blog > Cracking the IT Department Budgeting Code

Cracking the IT Department Budgeting Code

Martin Bonner

Is the historical IT Budget riding a shifting tide of change? 

2017/2018 hasn’t been any different to the past few years. Budgets have remained tight, constrained and trending towards shrinking values. Is there a glimmer of hope on the horizon for the 2019 budget cycle?

Why should it be any different from the last few years? After all, we are riding a shifting tide of change in what could be a significant year for the British economy. Without a doubt, we’re not going to see any historical budget increases in a year that promises to make political history.

Nevertheless, can IT projects really face yet another year of delay and cancellation leading to business disappointment and ultimately IT department blame?

Cracking the IT Department Budgeting Code

From blame to a glimmer of hope

2017/2018 saw the buzz around digital transformation. This then made way for a buzz around digital innovation and now a budget collaboration.

Business excitement around innovation resulted in the evolution of innovation hubs, expertise being allocated with budgets and resources to explore evolving technologies, trends and business process. The grip of technology was set to play a leading role in business change, placing the IT Department at the helm.

IT department budgets are set for an evolution.

The collaboration of IT with the business has paved the way to release new business budgets, proving that communication between departments can unveil hidden gems.

It’s good to talk!

Six months into 2018 the increase in business collaborative projects were striking. Minimum Viable Products and Proof of Concept projects, jointly commissioned and funded, coming from new innovation departments and hubs increased at a rate no one predicted.
Joint budget responsibility and joint ownership lead to some incredible results.

So, to blame IT for the failure of projects diminished. Sole IT Department responsibility became shared and employees’ roles and responsibilities met with an evolution.

How will we trend in 2019?

IT and business Communication are key – sharing knowledge, skills and budgets – this will uncover your hidden Gems!

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