Reducing costs while investing in IT initiatives that are aligned with business goals is a complex challenge, because legacy IT systems don't provide insights into why and where budget is allocated and spent.
ServiceNow Financial Management offers two solution paths: cost transparency and budget management.
ServiceNow Cost Transparency helps you better understand where your budget is spent by mapping actual costs such as applications and infrastructure to their consumers.
ServiceNow Financial Planning helps you create a more streamlined and accurate budget planning process though a centralized budget data repository that gives everyone access to the same system and data.
Both capabilities are included in ServiceNow Financial Management.
ServiceNow Financial Management provides visibility into spend and simpler control of the budgeting process.
You’ll benefit from an integrated view of actual usage data – incidents handled, servers used, project hours spent – and financials right out of the general ledger. Use this visibility to connect cost to service usage with simplified cost models that make the crucial connection between the way services are used and the cost of delivery. The power of the platform also means a single place to collaborate on budgets to ease planning activities.
The result? Your CIO will be better able to align investments with business goals, weigh operational performance against budgets, and adjust investments accordingly.