To facilitate communication and gain alignment between IT, Finance and Business areas we recognized a common language or taxonomy was needed. The program initially used a "custom" taxonomy to identify pools of cost and technologies which resulted in everyone speaking a common language however led to missed opportunities in executive level reporting. To close the gap on the reporting, the program moved to industry standard TBM Taxonomy that’s governed and maintained by the TBM Council Board Committee on Standards.
Fiscal Year 2024 TBM Taxonomy for Cost Pools and Technology Towers
Fiscal Year 2024 TBM Taxonomy with Services and Application Core Business Functions