Technology Acqusition Benchmark

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Grand Canyon University *

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Apr 3, 2024

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pptx

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Uploaded by SuperMole2636

Technology Acquisition By: Kimora Coulson Date: March 6 th 2024

Measuring IT Value IT values are the benefits and contribution that IT brings to an organization IT plays a crucial role in business operations, facilitation communication, data management, decision making, and automation of processes IT investments can directly contribute to financial objectives Return on Investment (ROI): Measures the financial return generated by an IT investment relative to its cost Total Cost of Ownership (TCO): Calculates the total lifetime cost of owning and operating IT assets Key Performance Indicators (KPIs): Quantifiable metrics used to evaluate the performance and effectiveness of IT initiatives.

Dynamics of IT Growth IT growth involves the expansion and evolution of technology capabilities Development encompasses the creation of new IT solutions, applications, and systems to enhance organizational processes and address emerging challenges. Balancing investments across growth, development, maintenance, and production is crucial to support organizational objectives effectively When allocating resources strategically, investments are prioritized according to how well they can promote innovation and provide a competitive edge.

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Impact on Purchasing Decisions • IT strategies play a pivotal role in shaping corporate purchasing decisions. • Long-term company goals, financial limits, and technological requirements. • IT requirements can influence its procurement processes and vendors selection criteria. • It is important to align IT purchasing decisions with overarching business goals and objectives to maximize value and ensure strategic alignment.

Reference Ashare, M. (2022, December 15). How tech companies make it purchasing decisions. CIO Dive. https://www.ciodive.com/news/tech-vendor-IT-purchasing-strategies/638913/ Bannister F. (2012) Purchasing and Financial Management of Information Technology. [BibliU version] Taylor and Francis Guest, S. (2024, March 4). SAP brandvoice: How procurement is influencing top business priorities. Forbes. https://www.forbes.com/sites/sap/2024/03/01/how-procurement-is-influencing-top-business-priorities/? sh=73bcb034636a Hyeon-Wook Kim, Z. Q., Sinem Kilic Celik, M. A. K., & Meltzer, J. P. (2022, March 9). Technology and the future of growth: Challenges of change . Brookings. https://www.brookings.edu/articles/technology-and-the-future-of-growth- challenges-of-change/ Rojas, E. (2017, November 21). How to measure the business value of it . Small Business - Chron.com. https://smallbusiness.chron.com/measure-business-value-42674.html Purchasing and Financial Management of Information Technology

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