IT budgeting Definitions

  • B

    business model innovation

    Business model innovation is the implementation of unique concepts to support a company's viability, including the development of new processes for delivering products and services to customers.

  • C

    coopetition (co-opetition)

    Coopetition is a business strategy that uses insights gained from game theory to understand when it is better for competitors to work together. 

  • D

    demand shaping

    Demand shaping is a supply chain management strategy where a company uses tactics such as price incentives to influence the number of customer requests for a certain product in order to match its planned supply.

  • digital labor

    Digital labor is work performed by robotic automation technology.

  • E

    EBITDA ( earnings before interest, taxes, depreciation, and amortization)

    EBITDA stands for 'earnings before interest, taxes, depreciation, and amortization.'

  • F

    Fortune 500

    The Fortune 500 is Fortune Magazine's annual ranking of the United States' 500 largest corporations. The list is important because it provides the general public with a sense for which companies have the ability to influence the economy in the United States and whether or not those companies are healthy.  

  • fractional CIO

    A fractional CIO is a high-level consultant who specializes in aligning information technology (IT) with business goals. Quite simply, a fractional CIO works for a fraction of the time, at a fraction of the cost it would take to hire a full-time executive to fill the post.

  • G

    great recession (Great Recession)

    Great recession is a label used by journalists and  economists to describe a severe, prolonged economic downturn.

  • H

    hurdle rate

    A hurdle rate is the required rate of return above which an investment makes sense and below which it does not.

  • I

    incremental innovation

    Incremental innovation is the introduction of small improvements or upgrades to already existing products, services, processes or methods.

  • interim CIO (interim chief information officer)

    An interim CIO is an experienced chief information officer employed by a company on a temporary basis to lead or transform its IT organization.

  • IT budget (information technology budget)

    IT budget encompasses the money spent on information technology systems and services. The IT budget, typically overseen by the CIO, includes compensation for IT professionals and expenses for building and maintaining enterprise-wide systems.

  • IT cost structure

    IT cost structure is the relationship of different types of costs within a larger IT budget.

  • IT outsourcing strategy

    An IT outsourcing strategy is a plan derived from assessing which IT functions are better performed by an IT outsourcing service provider than by an organization's internal IT department.

  • IT procurement

    IT procurement is the series of activities and procedures necessary to acquire information technology products or services.

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