Financial management is the efficient planning and use of funds for sustaining operations, making smart investments in developing a future portfolio of products and services that enable organizations to meet their strategic goals.
IT Portfolio Planning & Management
IT Portfolio Planning ensures that the collection of an organization’s IT investments, as a whole, aligns with the organization’s mission, goals and objectives. Encompassing Capital Planning and Investment Control (CPIC) and having touch points to Enterprise Architecture, IT Portfolio Planning is a critical component of IT Governance. T. White Parker helps clients define and manage the performance of IT portfolios effectively, efficiently, while being compliant.
IT Budget Formulation & Execution
Organizations are continuously challenged to integrate budget formulation, spending and performance management to achieve corporate objectives. Budget formulation is a critical step in the process of planning, and is related to an organization’s financial resources. Producing a well thought out, comprehensive budget also leads to better decision-making about future program activities and budget strategies. Budget Execution in the public sector context involves implementing federal guidance such as OMB Circular A-11 and other relevant execution references and includes all phases and dimensions of the administrative distribution of funds; their impact on establishing and maintaining sound fiscal internal control; and several techniques to develop, analyze, manage, monitor, and adjust agency/program financial plans.
Strategic Sourcing & Category Management
Strategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of an organization’s goods and services. Category Management is a strategic approach which organizes procurement resources to focus on specific areas of spends. This enables category managers to focus their time and conduct on market analysis, thus fully leveraging their procurement decisions on behalf of the whole organization. The results can be significantly greater than traditional transactional based purchasing methods.
Learn about getting help to do business better from the strategy and management consultants at T. White Parker.