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Grow Your Business Finances

10 Ways to Fight For Your Piece of the Budget Pie

Ever feel like you're running your own company within a company? If you have to constantly fight for your department's share of the annual budget pie, here are a few pieces of advice on how to get what you need to get the job done.

The advice comes from Chris Pick, chief marketing officer for Apptio, a vendor of technology business management software based in Bellevue, Wash.

  • Tie any request into a core business initiative
  • Make sure the fund will support new business projects for innovation, agility and margin expansion
  • Make sure the funding will be used to optimize the department
  • Understand that "finance" is the language of the business
  • Know the current state of the business and how they treat these requests (sensitivities of free-cash flow, etc.)
  • Understand your company's procurement process and how to work within it (negotiating the best rates, etc.)
  • Describe the project in business, not technical, terms
  • Explain the core services and capabilities that will be provided
  • Have a plan to measure return on investment
  • Leverage any industry benchmarks or peer sources to add credibility