Cost Management, rate cards, rate card costs & labour rate cards.

[santhoshini2]

Hi Team,

I was unable to find much information about cost management module. Could anyone please provide me the high-level overview about Cost Management, rate cards, rate card costs & labour rate cards....etc. and related documentation or YouTube video suggestions. 

Please do the needful.

Thanks & Regards,

Amala.

[Community Alums]

Hi @santhoshini2 ,

Please find about cost management : https://docs.servicenow.com/bundle/vancouver-it-business-management/page/product/cost-management/ref...

In Cost Management, task rate cards and labor rate cards capture operating costs by generating expense lines representing the cost of performing a task

• Task rate cards are templates used to define the type of task and the method of calculating the associated costs.
• Labor rate cards are templates used to define worker's labor rates when calculating task cost based on time worked.

• Manage a labor rate card

  The labor rate card associates a rate code with a labor rate.

• Manage a task rate card

  Task rate cards are rate cards associated with records in a task table.

• Process task rate cards

  The business rule Process Task Rate Cards runs when tasks close and checks to see if any task rate cards apply. If they do, an expense line is created according to the rate card.

[santhoshini2]

Hi @Community Alums,

Thanks for providing the information. Apart from product documentation. Can I get any other recourses to learn about cost management. If yes, please suggest.

Thanks,

Santhoshini

[Community Alums]

Hi @santhoshini2 ,

The Doc is enough, just practice it in your PDI or non-prod instances.