Service Financial Management
For Controlled Costs and Transparent IT Services
Monitoring costs for IT services accurately and attributing them based on actual usage is not only crucially important to companies, but also a proven method accepted throughout the industry. If the specific value contribution of individual IT services cannot be quantified, organizations are faced with a serious challenge: making decisions on which IT projects are the highest priority without any objective basis. Excessive expenditure and inefficient IT structures are often the result.
To prevent these kinds of issues, being able to allocate costs accurately to the specific IT services is crucial. An IT department that communicates with the business units is not only understood, but also delivers added value to the company’s success. This enables companies to plan their IT investments strategically while also taking measures to get the best possible use out of their existing services.
Achieving controlled costs and efficiency
Effective IT financial management (ITFM) enables companies to optimize their IT investments, improve transparency, reduce costs, enhance service quality and minimize risks. Especially in an age in which IT plays a central role in almost every business unit, this added value is becoming increasingly important. We hold coordinated workshops to address your individual requirements regarding your service portfolio, service catalog and service descriptions, working with you to develop a bespoke ITFM strategy.
Service cost analysis
Working together to determine, establish and analyze costs in connection with the provision of IT services. This includes staffing costs, expenditure for hardware and software, license fees, maintenance costs and other business-related expenses. You then receive a documented analysis.
Service cost allocation
Allocation of the costs to individual IT services in your company, with the goal of determining the financial expense of individual services together. By doing so, we enable the costs to be assigned to different service areas transparently. The costs are distributed to the individual IT services based on your individual ITFM concept and service catalog.
Planning and budgeting
Compiling budgets for IT services is crucial in order to ensure that financial resources are assigned appropriately. We take both short-term and long-term financial goals into account. Implementing the ITFM strategy allows you to allocate your funds to the respective IT services transparently, making budgeting and planning for the coming year much easier.
Cost control
A key part of service financial management is monitoring and controlling the actual costs as compared to the budget. Where costs exceed the budget, our experts recommend corresponding measures to get them back under control.
Pricing and fee management
Some organizations calculate the costs for using IT services as part of their service integration and management (SIAM) process. By implementing service financial management, we ensure that the costs incurred are covered and profit can be achieved where applicable
Performance and economic assessment
Analyzing the financial performance of IT services is crucial. We help you to assess the individual items of expenditure, examine the costs in relation to the service provided, and deliver recommendations for improvements.
How you benefit
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Cost efficiency: Precise control and optimization of costs enables companies to make their IT services more cost efficient and achieve savings.
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Budget control: Companies manage their IT spending better, adhere to budgets and prevent unexpected excess costs.
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Transparency: Financial transparency enables companies to clearly track and understand cost and resource allocation for different IT services.
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Better decision-making: Meaningful financial reports provide a solid basis for informed decisions regarding he effective use of resources and strategic investments.
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Risk management: Service financial management helps to detect and minimize financial risks in connection with IT investments by identifying deviations from the budget at an early stage.
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Performance optimization: Assessing the performance of IT services in relation to the costs helps to identify options for improvement.
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Compliance: Service financial management helps to ensure that all financial activities are in line with the statutory requirements and internal policies.
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Longer-term planning: Companies can develop long-term financial goals and ensure that IT investments support the long-term business strategy.
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