Do You Have The Financial Skills To Be An IT Manager?

You work in IT, not the finance department, right? The answer to this question might not be as clear cut as you might think. For you see, all of those IT projects that you and your team are going to be working on have to be funded somehow, and that money comes from one place … Read more

What IT Managers Need To Do With Complicated Net Present Values

The good news is that IT managers are often able to quickly wrap their heads around the concept that a dollar (or a euro, or a rand, or a…) in an IT budget that they are given today is more valuable than a dollar that they are given tomorrow. However, things get a bit more … Read more

Why IT Managers Need To Find A Balance Between Fixed And Variable Costs

In order for you to have a happy, successful, and long career as an IT manager, you are going to have to understand how your company makes money. Since your company is in the business of selling some sort of product or service, it sure seems like we should take a look at just exactly … Read more

IT Managers Need To Know How Many Is Enough

As an IT manager, we like to think of ourselves as being far, far away from the business side of the house. However, the reality is that the reason that we have a job is because the products and services that our IT teams help the company to build get sold. This means that you’re … Read more

Internal Rate Of Return (IRR): Why IT Managers Should Know How To Use It

As an IT manager you will eventually be responsible for convincing your company to fund an IT project that your IT dream team wants to work on. Sure, from a technology point-of-view this may be a necessary project to do; however, the leadership in your company who control the funding probably don’t really care about … Read more

What Is Net Present Value And Why IT Managers Should Care About It?

The good news is that IT managers are often able to quickly wrap their heads around the concept that a dollar (or a euro, or a rand, or a…) in an IT budget that they are given today is more valuable than a dollar that they are given tomorrow. However, things get a bit more … Read more

ROI: What It Is And Why IT Managers Need To Know How To Use It

In the world of IT we like to make up new acronyms all the time. Outsiders often don’t fully understand what our acronyms stand for and so they feel like they don’t know what’s going on. Well guess what, other departments in your company can do the same thing and it will make you feel … Read more

IT Managers Need To Understand What A Cash Flow Statement Is

In the world of high finance, there are three primary financial reports that your management will use to tell you how a firm is doing: income statement, balance statement, and the cash flow statement. An IT manager needs to be aware of what each of these reports contains and how to read them. The cash … Read more