Efficient budgeting is vital to supporting strategic business initiatives. However, a budgeting process based on individual spreadsheets that must be individually collated and reconciled with the overall IT budget leads to mistakes, wasted resources, and a lack of credibility.
ServiceNow Financial Planning is a centralized budget data resource that facilitates accurate, streamlined budget planning. Replacing spreadsheets with an online repository enables better alignment between budgets and actual business requirements, encourages collaboration, and offers new ways to address budget challenges and communicate budget adherence to stakeholders.
ServiceNow Financial Planning works seamlessly with Cost Transparency. Both are part of the ServiceNow Financial Management offering that helps you cut costs while investing in innovation and transformation initiatives.
Tackle Intricate Budgets With The Hierarchical Budget Console
Financial Management creates a simpler and better‑governed budget management process that saves time and avoids confusion. The ability to work with multiple budget models lets you develop budgets from multiple perspectives, such as from services or cost center viewpoints. Financial Planning can also work with the ServiceNow Project Portfolio Management application to provide budget management of the entire project portfolio.