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Today the IT function faces several dynamic business challenges, one of which is to deliver efficient business outcomes at optimal costs and within stringent timelines. The multi-sourced IT environment has evolved into a complex and global phenomenon in a bid to improve service efficiency, cost effectiveness and delivery capability. Business Service Management (BSM) helps provision IT resources based on a customer’s pressing business requirements and outcomes.
It is focused on driving outcomes related to business KPIs that are in turn tied to individual SLAs and OLAs. By effectively measuring KPIs related to business processes, enterprises can make appropriate investments and constructive changes to their operational expenditures. Primarily move more into aOpex model than Capex model for keeping the lights on. This helps businesses become more predictable in terms of cost, quality and overall customer service.
BSM encompasses a proactive approach of servicing at a business process level and not just the IT or application levels. Its goal is to implement robust maintenance and monitoring strategies for well differentiated internal and customer facing business processes. BSM thus helps enhance service quality and unearth new revenue opportunities through engaging customer relationships.
Here are the top 3 benefits of using the BSM approach:
1. ENHANCES DEVELOPMENT AND PRODUCTIVITY
BSM helps streamline end-to-end business processes, related operations and concentrates on delivering profitable outcomes through the following ways.
- Collates customer’s detailed business processes, maps corresponding IT requirements and sets standardized operations to enhance system performance
- Aligns IT with business strategy to drive operational IT functions and meet business objectives and goals
- Delivers optimized business metrics, generating through tangible SLAs and OLAs
- Effectively monitors, measures and delivers the service levels required to meet business priorities
- Proactively identifies business service performance issues and resolves them before it negatively impacts the business.
- Continuously identifies business improvement opportunities and strives to deliver excellent service quality
2. FOCUSES ON BUSINESS GROWTH, NOT MAINTENANCE
Enjoy experiencing ultimate control over your business processes, through BSM. Instead of managing IT maintenance issues, reducing workload stress or monitoring day to day technical operations and costs, your organization can engage in doing what it does best: developing its business, and ensuring growth and efficiency by implementing the following two tips.
- Provide a transparent and visible window of your IT services by identifying inefficiencies and gaps, and setting performance metrics, all in line with your business strategies.
- Implement an efficient cross- functional model that drives alignment with the business needs. This significantly helps reduce the number of incidents, problems, and security issues driving down avoidable IT spends.
3. IMPROVES RISK MANAGEMENT AND REDUCES COST
Incorporating BSM helps decrease your technology risks. It provides the level of continuity your business requires to reduce risk, improve user responsiveness, enhance end user satisfaction and mitigate the risk of lost sales. In addition, it provides these benefits:
- Achieve optimal performance by reducing non-discretionary spending, resulting in a cost-effective approach.
- This can pave the way to getting more out of your project investments and help attain overall performance goals
- Reduces technical monitoring and outage resolution costs
BSM provides a comprehensive view into the health of business services. By focusing on the service impact, it enables you to deliver better business services, recover lost revenue and enhance end-user experience.
Organizations are becoming increasingly digital and Artificial Intelligence is being deployed in many of them. Often small tech-savvy start-ups and large firms with huge funds, like those in technology and finance businesses, are deploying sophisticated forms of AI.