So how big was your IT team’s budget this year? Hmm, not big enough? Just image what you could do if you had had a bigger budget! As the planning for next year’s budgets starts to gear up, every IT manager out there dreams of getting more money so that his or her team can … Read more How IT Managers Can Get Good At Asking For A Bigger Budget
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 Do You Have The Financial Skills To Be An IT Manager?
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 What IT Managers Need To Do With Complicated Net Present Values
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 Why IT Managers Need To Find A Balance Between Fixed And Variable Costs
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 IT Managers Need To Know How Many Is Enough
What makes an IT manager successful? In a word it’s communication. The IT managers who are able to successfully reach out and talk with the rest of the business using terms that they use every day are the ones who will be able to get more things done with their IT dream team and get … Read more 3 Financial Terms That IT Managers Need To Know
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 Internal Rate Of Return (IRR): Why IT Managers Should Know How To Use 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 What Is Net Present Value And Why IT Managers Should Care About 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 ROI: What It Is And Why IT Managers Need To Know How To Use It
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 IT Managers Need To Understand What A Cash Flow Statement Is