The Finance IT Contract Management Governance

SOA is the service-oriented architecture used to link together seemingly disparate
applications or programs, into one seamless system whose components work together for a
specific purpose. Before, SOA developers were content with simply doing just that and
nothing more. However, in this more demanding environment, SOA now also has to be reliable,
secure and great on performance.

This is where ESB comes in. ESB stands for Enterprise Service Bus, which is a system within
the SOA system. The ESB permits different transport layers to be consistently interconnected
within the SOA environment. ESB also allows for data transformation so that SOA components
that are not based on the XML system will have their messages changed into XML first before
being communicated to the other parts of the SOA.

ESB also has to be founded on a reliable message layer so that messages being sent through
the ESB system are both traceable and dependable. This is accomplished when the ESB uses a
JMS implementation, or if protocols are superimposed by the ESB on unreliable transport
layers. Security is also assured by the ESB if a policy document is used for ESB
configuration in the areas of security provision and enforcement.

In addition, ESB can perform asynchronous messaging management if it relies on certain
protocols or when certain languages are correlated with one another.

Certain software developers are averse to using ESB because they claim they can work in the
functions of the ESB themselves into the SOA solution without depending on ESB. But others
welcome use of ESB because it may reduce the time spent developing those functions and
integrating them into the SOA.

Becoming involved in setting the priority and study regarding the contract management of Information Technology gives an understanding on what it really is. Attending meetings for the understanding of the topic is what is best to do as a beginner. Some meetings would websites that you may want to visit to recognize the top performing companies. The review of the processes and governance of ICTM includes the key goals and measures regarding the topic, the organizing and the staffing of ITCM, understanding and working on the needs of the customers internally., plans for strategic sourcing, managing contracts, the use of the different technologies for ITCM and the other issues related to ITCM.
                                                                                      
The major task of managing a contract in finance and IT governance is to manage and negotiate IT contracts for software, hardware, and also, the services that the different agencies of the state and members of purchasing program can make use of. The contracts offer terms and conditions that are consistent and also it provides the best pricing. Management of contract is also in charge for the management of contracts in Information Technology at any level of enterprise.
 
The other responsibilities of managing contracts in Information Technology and finance include offering information that will enable effective negotiations between vendors. The development of various IT contracts and templates that uses terms and conditions that are good for the state. Management of contract also improves the effectiveness and the efficiency of the processes within the contract and to meet the objectives of the operation that is required in the contract.