Looking for a way to increase your business value? Look no further as using the IT4IT standard is all you need to do! Read this article for more information!

In order to reinvent or renew IT, the entrepreneurs must go beyond the common process-based methods and prepare their teams with a suitable information, equipment, and tools and provide the business with the commands to take control of IT.

The enterprises and businesses today confront various interruptions to the status quo on all fronts controlled mostly by the digital transformation, which explains why IT is so managed and organized.

Today, the role of IT in the entrepreneurial world has changed into an enables that improves competitive advantage, drives innovation, increases productivity, and lowers costs by applying technological solutions.

But, the innovative technologies including the cloud and big data can only be of value to the organizations if they can be managed and implemented in a proper way. The IT leaders and experts realize that the present operating models no longer address the role of innovative technologies in the business and that their main functions need to reinvent. In other words, a totally different approach and method is needed for how we build, plan, deliver, manage, and run IT today.

There are many best frameworks, guidelines, and standards for running IT. However, all of these approaches have been evolved from a basic IT service model and not with a new main role as a business enabler. As we said before, in order to reinvent or renew IT, the entrepreneurs must go beyond the common process-based methods and prepare their teams properly. That means to provide them with a suitable information, equipment, and tools to take control of IT.

To identify this issue, the IT4IT Reference Architecture standard has been created and will be maintained by a group of experts and professionals from major IT organizations, IT academic institutions, and IT suppliers.

The IT4IT standard can be described as a supplier-neutral open standard that delivers a detailed and prescriptive information model-based framework for operating the business of IT. This standard is built on classic process-based standards and frameworks such as ITIL or Information technology Infrastructure Library and ISO/IEC 20000 for innovative technology service management.

The thing that differentiates IT4iT from other standards and frameworks is that this standard focuses on information and capabilities needed to control a service through its lifecycle. It determines how the IT function can be backed by information systems controlling the IT activities and how to provide the necessary information to enhance IT decision making and encourage continuous improvement.

IT as information technology refers to all internal activities and relationships in one company and how the IT functions relate to the business’s end goals. You should know that it is all about enhancing the business of IT by utilizing it as efficiently as one business does.

By using this standard, you will be able to optimize the IT resources, especially the IT management information systems and focus on more controlled and efficient IT operations.

The end IT-related results impact the business in terms of improvements in the financial area, as well as, competitive positioning and lower risk profile.

So, in order to support the implementation of this standard, the Open Group IT4IT Forum has created the IT4IT management guide where you can find helpful information on how the IT4IT standard can be used in an IT function to manage the business of IT.

The guide has been designed for entrepreneurs to understand how IT4IT can enhance the performance of the IT function and how to better support the business!

You can checkout a business encyclopedia if you want to grow your business even more and be more informed in the business world.