IT service process
Financial Management for IT Services
ITIL
Description
Referenced process
Financial Management for IT Services
Description
Financial Management is an important element of IT Service Management. It gives essential management information, which ensure cost-effective providing of services.
One of the objectives was to change over from budget-based organizations with fixed budgets to cost-conscious businesslike organizations.
IT organisations, which have implemented Financial Management are able to:
* calculate the cost of providing IT services
* establish the cost composition and categorise the costs
* assign costs to IT services provided to both internal and external Customers
* implement charging policies for using IT services
* operate the department as a Business Unit
* recover the costs including capital costs (investments, depreciations, interest, etc.) of the IT services from the customers of the service
* proper information concerning costs related to the provided IT services
Comment
Objective:
The Financial Management gives cost-effective management of IT components and financial resources needed for IT services providing.