IT expert Hsiu Mei Wong, managing consultant at PA Consulting Group, gives her view to ITTechNewsDaily on how IT Managers have to navigate funding for their department, and how to convince the CFO or CEO that they need funding.
This article also ran in its entirety in BusinessNewsDaily.
Hsiu Mei points out that IT managers need to be aware of timing and when yearly budgets are set. “A bit of a rookie mistake many IT managers make the first time out is that they miss the funding cycle…You don’t want to miss the boat, as it only gets tougher to get funding once budgets are set."
She also notes the importance for CIOs to be aware of the company's goals and strategy as they battle for department financing. Hsiu Mei argues: "what we've found with our clients [is that] projects that have a direct line of sight to the company’s goals – such as lead generation or gaining market share – are more likely to capture the attention of the CFO or CEO.”
Additionally, Hsiu Mei advises that developing personal relationships is a key aspect of securing the desired budget. "At the end of the day, it is about winning the hearts and minds of the people making the financing decisions," she instructs.
To read the article online in ITTechNewsDaily, please click here.
To read the article online in BusinessNewsDaily, please click here.