Cost Management or Financial Management with SPM ?

[aruscitti]

Dear all, 

I would appreciate your help.

I'm the CIO. I would set the SN to manage the total cost and create a specific report to follow all expensive items.

What is the best practice for doing this

SPM, I'm okay with the Cost Plan for the Project and Demand, but I need to add the recurrent costs, such as maintenance, etc.

Or are there some videos in the portal learning that explain the end-to-end process for managing the cost?

Thanks

[Carina Hatfield · Accepted solution]

Cost management with SPM is related to allocating labor costs and CI costs for project work and tasks.  It is not really for ongoing asset costs.  

They did add costs to the data model for our Enterprise Architecture workspace (formerly known as Application Portfolio Management) if you are looking for a simple way to track costs on business applications.  

If you are trying to track cloud costs, our IT Asset Management has a cloud costing solution:  https://docs.servicenow.com/bundle/xanadu-it-asset-management/page/product/cloud-insights/reference/...

There are also vendors who specialize in IT financial management that have built solutions on the platform using standard frameworks and best practices as tracking IT costs can get complicated fast.  If you want to look into them:  Nicus and Proven Optics.  

[aruscitti]

What are they Nicus and Proven? where i see the information?

thanks

[Carter1]

Hi there,

I work for Proven Optics and would be happy to provide some more information. Carina is correct that this is something we specialize in. We have an application on the ServiceNow Store that I think you could benefit from: Proven Optics Cost Model.

We can use data from SPM or other ServiceNow modules to report on total cost of ownership (TCO) of Applications and Services.

Feel free to reach out directly for a closer look!

[aruscitti]

Hi Mega 

Thanks a lot, can you provide some information , please?