Have you ever stated that you run your IT department “like a business”? If you have, then you’re not alone. Especially after the 2008 financial crisis when most IT departments were tasked with “doing more with less” and cost-cutting and improved efficiency became the order of the day. But, jumping back to this blog’s opening sentence, if you’ve previously stated that your IT department is “run like a business,” do you really have fit-for-purpose IT financial management capabilities? For example, perhaps knowing how much individual IT services costs and how they deliver value to the organization. This blog looks at what IT financial management is and why it’s important.