Financial Management

Develop a comprehensive set of IT financial management processes that provide your organization with positive management controls over your IT service portfolio - whether internally provided or provided by suppliers in the Cloud.

Establish effective business planning for IT.   Create and maintain an investment-based budget with rates established for all the services and products services.  Forecast how much of each item in the catalog you expect to sell to each business unit, and what costs you’ll incur in delivering it.

Forecast how much of each item in the catalog you expect to sell to each business unit, and what costs you’ll incur in delivering it.

Negotiate a Budget with the rest of the business.  Where clients understand what their requests cost, defend their need for IT products and services, and the enterprise determines what it will and won’t buy from IT.

Produce a service catalog with rates.  A service catalog defined in terms of bundles of end results that your customer can recognize and in your customer’s terms.

Optimize demand and planning.  Invoice for work completed and maintain “checkbook balances” to drive the portfolio management process.

Develop the details of costs that are fundamental to a trusting, value-based relationship with the rest of the business in your catalog:

  • Communicate service options with cost and performance choices, and deliver periodic performance reporting and reviews
  • Describe what it does such that clients understand what they’re getting, including costs and service level expectations
  • Compare its costs and service levels to services available in the market to determine what it does well and whether you  should consider outsourcing
  • Limit demand to available resources by giving clients choices through service offerings and service level options with costs, and letting them decide what they’ll buy within a limited checkbook
  • Respond more efficiently to changes in demand through the standardization of services

Contact ITStreamlined today to arrange a free, one-hour discussion how you can streamline your IT Financial Management processes and get the savings your organization deserves.

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