What is ServiceNow IT Business Management? - Crossfuze

WHAT IS SERVICENOW ITBM (IT BUSINESS MANAGEMENT)?

Introduction to IT Business Management

IT Business Management (ITBM) workflows optimize the development, delivery and management of business services and align them with technology.

ITBM helps you and your organization understand how the technology environment relates to your business goals, strategies and needs. ServiceNow ITBM featured capabilities include:

Project Portfolio Management (PPM)
Agile Development
Demand Management
Application Portfolio Management
Resource Management

Why Businesses Need ITBM

ITBM aligns business and IT methodologies – creating end-to-end visibility for data-driven decision making, breaking down silos and strengthening relationships between internal business partners.

ServiceNow ITBM focuses on improving the alignment of business services and accelerating business delivery – giving you greater value from your initiatives. Featured capabilities include:

Project Portfolio Management (PPM)
Agile Development
Faster Innovation, better value, and faster delivery
Demand Management
Application Portfolio Management
Resource Management

Why ServiceNow ITBM

According to Forrester’s Total Economic Impact Report, companies who utilize ServiceNow’s ITBM solutions see the following benefits:

23% CAGR
project delivery

12.6%
in resource utilization

Average savings of 16.6 hours of work per project

Reduction of up to 80 hours per project spent on administrative activities

Ability for workers to track time across multiple projects

Gartner named ServiceNow ITBM to its 2021 Magic Quadrant citing these features

Integration of operations and development with a single backlog

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Idea management, roadmapping, project and program portfolio management and visibility functionalities

Extensive ServiceNow geographical presence

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Where ITBM and ServiceNow Are Headed

The ITBM industry makes it possible to unify and understand historically siloed parts of your business. Grand View Research estimates the global Project Portfolio Management market to grow into an $11.4 billion industry by 2027.

Meanwhile, businesses continue to learn how to achieve maximum effectiveness with ITBM tools for maximum effectiveness.

ITBM provides IT and the C-suite with a single-pane-of-glass visibility into the business so leaders can continually align strategic IT initiatives with business priorities.

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