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Sure it's a cost center
Every business has costs to operate and IT departments will always be some part of that. Where IT can be part of the discussion is in helping mitigate costs. Part of the fallacy of IT offshoring and hiring too many IT consultants is that you wind up with a lot of support staff who may understand their own jobs but they don't understand the business. When IT is a valued part of the team and used appropriately they are a excellent resource for any company.