“Implementing ITFM and gaining the value of IT cost insight is not as easy as simply buying a tool and clicking Next, Next, Next”
IT Financial Management is a discipline ensuring that IT infrastructure is obtained at the most cost effective price (not necessarily the cheapest), calculating the cost of providing IT services and enabling decision makers to understand the costs of its IT services and make informed decisions. Ideally this ends with cost recovery from the customer of the service.
Understanding your true cost to serve and using this information to make informed decisions is not an easy task. Typically organisations struggle with answering even the simplest of Service consumption and IT cost related questions:
- What is my actual current IT spend?
- How do I identify the breakup across departments?
- What are the components of each Business Service?
- What is the correct way to measure usage?
- Do I have data available to measure the usage?