Service value management is way to visualise IT’s value

That's the top level finding of a study commissioned by IT service management provider Axios Systems – and the company suggests that proves organisations need to adopt a 'service value management' approach "to help IT deliver more business alignment". Axios's research also finds 64% of respondents claiming to be unable to provide the business and IT executives with quantifiable metrics demonstrating the value of IT services and assets in real-time. Despite huge investments in IT, comments Ailsa Symeonides, sales and marketing director at Axios, it appears that companies still lack the systems, processes and best practice approaches – such as ITIL – for IT management that would help overcome their challenges. Unsurprisingly, the research also suggests that 63% of IT execs are now focused on cost reduction as the principal driver for IT projects over the next 12 months. That is followed by change management and compliance. "When these business drivers are considered, the need for a new, more pragmatic and value-orientated approach to IT becomes increasingly important," says Symeonides. And she adds: "Our study highlights that a gap still remains in IT's ability to deliver and demonstrate the value it provides the business. In today's changing and uncertain world, this is no longer acceptable and it is our belief that adopting a service value management approach will enable organizations to meet this challenge head on."