Understanding Cost Centers and Budgets

[HarshiniReddy]

Hi,

Can someone help me understand which domain Cost Centers, Budgets, and Expense Allocation Rules belong to? I’d also love to know if there are any recommended courses or resources to explore these topics in depth.

Thanks in advance for your help!.

[Community Alums]

Hello @HarshiniReddy,

Those belong to the Cost Management domain within ServiceNow SPM (Strategic Portfolio Management).

Cost Centers, Budgets, and Expense Allocation Rules are all part of how SPM tracks and manages financial planning, linking project and demand costs back to organizational budgets for better visibility and control.

You can check out these helpful resources:
SPM Cost Management 
Learn Financial Management with ServiceNow SPM

If you’d like a more guided approach, check out the SPM courses available on Now Learning.

If my response helped, please mark it as the accepted solution so others can benefit as well.   

[dbook]

Hi HarshiniReddy, 

These are all related to Cost Management, this application is used across a variety of applications including ITSM, ITAM, SPM & FSM - but the applications are limitless. I've included a detailed link below on this. You'll find some tables come pre-loaded such as Cost Centers as part of the CSDM foundational data. 

https://www.servicenow.com/docs/bundle/zurich-it-business-management/page/product/cost-management/re...

Some Examples: 

Domain Key Cost-Management Focus Strategic Outcome

ITSM	Service cost visibility, resource cost, service portfolio cost	IT becomes value­-led, cost per service is measurable, drives automation & service optimisation
FSM	Work order cost, first-time fix cost, travel/parts cost, proactive vs reactive cost	Field service shifts to efficient, strategic operations rather than reactive cost centre
ITAM	Asset lifecycle cost, cloud spend, licence cost, rationalisation cost	Asset spend is optimised, cost savings realised, budget freed for innovation