LAS VEGAS, Nov. 6, 2018 /PRNewswire/ -- The Technology Business Management (TBM) Council, a nonprofit organization dedicated to developing and promoting best practices for managing IT like a business, today announced a record-breaking year for momentum and updates across all three core mandates of standardization, education and collaboration.
The TBM Council® is growing membership more than any other year historically (55% in the last year alone) to include 7,000 leading technology and finance executives from around the world, which are representing technology budgets in excess of $1 trillion. The TBM community has become a true market force and the combined member base now controls one-third of the worldwide technology spend.
This year's incredible momentum is marked with a sold-out TBM Conference, where TBM best practices and stories are being shared today to an audience of more than 1,600 attendees across technology, finance and business leadership roles.
"The TBM Council was established in 2012 with the aim to empower technology executives to collaborate with their business partners to provide growth strategies for the business. We knew that this simple idea would be powerful if leading CIOs were behind it. Now, the impact of the TBM Council is being realized. One trillion dollars in IT spend represented by our Council members shows us we're on the right track," said Chris Pick, Founding Board Member of the TBM Council and Apptio CMO. "Like any professional body, the TBM Council is governed by a set of mandates: standardization, education and collaboration. The Council has been hard at work over the past year and we're honored to show the progression against each of these core mandates."
The TBM Council's TBM Taxonomy represents the industry-standard model for aligning IT costs to business outcomes. The Council is continually updating and adding to the existing Taxonomy to ensure it evolves as the needs and expectations of IT organizations change. Last year, version 2.1 was launched, focusing on enhancements to better incorporate cloud services and the cost of building and delivering with agility. This year, the Council is launching the TBM Taxonomy 3.0 incorporating granular detail across business application services and corporate-wide shared services. What's more, these enhancements can now also be accessed through the Council's first-ever Shared Services Taxonomy for full enterprise business management.
"As TBM usage grows, so does the value IT teams are bringing to their organizations," said Pick. "We're hearing members come back to us asking for services taxonomies that can be leveraged by their peers in HR, legal and finance. There is an increasing demand and market need for us to expand beyond traditional IT into shared services and we're pleased to meet that need within the Taxonomy 3.0."
The past year has seen steady growth in existing (and new) education programs for TBM Council members. Collectively, more than 2,400 technology and finance professionals have been trained in TBM since the program kicked off last year. Furthermore, 895 professionals are now credentialed by the TBM Council as Certified TBM Executives™ (CTBME™).
As the Council continues to evolve the available education course options, trainings are moving from theory to practice in order to help operationalize TBM for our member base. New courses will include practical, applied learnings that help translate the theory of TBM into automation with the Council's Technical Advisor.
In 2018, the Council saw significant growth across the public sector, specifically in the US Federal Government. With more than $90 billion IT spend in the US Federal agencies alone, there is massive opportunity to help drive cost savings and smarter technology investments decisions. The White House sees this savings opportunity and earlier this year, mandated TBM as a solution to improving IT spend transparency government-wide as part of the Presidents' Management Agenda. The TBM Council is continuing to support these efforts. In June, the Council hosted its first-ever TBM Public Sector Summit of more than 400 federal technology and finance leaders, with a presentation led by US Federal CIO Suzette Kent.
Building on the TBM Council's work in the US, in May of this year, the organization established its first-ever European TBM Executive Committee. The Council will also be introducing new international chapters across Asia and Latin America. These new chapters will help to scale TBM around the world while maintaining the high caliber of trainings, programming and network expected.
If you're interested in partnering or learning more about the TBM Council or how to get involved, please go to: www.tbmcouncil.org.
About Technology Business Management (TBM) Council
Founded in 2012, the Technology Business Management (TBM) Council is a nonprofit organization governed by an independent board of business technology leaders from a diverse group of the world's most innovative companies like Aflac, State Farm, Tyson, Intuit, First American and more. The Council is focused on developing a definitive framework for managing the business of IT by establishing standards and providing ongoing collaboration and education opportunities.