Hundreds of senior executives said they would appreciate a more granular understanding of information technology costs, according to a survey released by business services company Managed Objects.
Of the more than 230 U.S. senior corporate executives and IT managers responding, 90 percent said that knowing the details of IT costs would be helpful, allowing for improved decision making for IT cost management and a better alignment of IT spend to corporate goals.
Business leaders are also seeking mechanisms to promote better communication and understanding among finance and IT managers, according to the survey. More than 60 percent of C-suite executives named the ability to deliver executive and management cost monitoring dashboards for IT and business managers as the key feature for better measurement of IT application costs.
The survey showed a strong correlation between frequency of formal meetings among finance and IT leaders and the likelihood both groups were to describe their IT cost control measures as effective -- thought the majority of companies said the departments met only monthly or less frequently. For example, in organizations where meetings were held weekly, 68 percent said classified cost controls were effective, while only 18 percent said the same in organizations where meetings were held quarterly or less often.
"This survey echoes much of what we've found to be the case in the marketplace -- executives understand the value of a deeper understanding of IT cost control measures, and they see tools like dashboards as a key means for getting there," said chief executive Siki Giunta, in a statement.
The findings are a preview of a more in-depth report commissioned by Managed Objects. "Measuring and Optimizing the Cost of IT: A Progress Report," will be released in its entirety later this month.
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