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The IT Financial Management Challenge
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ITM Financial Resource Management |
Information Technology is one of the largest single expenditures in the enterprise, yet the connection between IT spend and business value is opaque to most business executives. One of the most difficult conversations a CIO can have is with a business client regarding IT costs. Invariably, these discussions generate tough questions, such as:
- "Why does IT cost my business so much?"
- "What am I getting for my money?"
Responding in a manner that makes IT costs appear arbitrary or unjustified runs the risk of weakening IT's relationship with the business, fueling the perception of IT as a cost center. In response, many IT organizations attempt to manually "explode the general ledger (GL)" using a plethora of spreadsheets to conduct analyses. However, these point-in-time efforts are labor intensive, don't produce timely or complete results, and are difficult to sustain.
ITM Financial Resource Management Solution for IT
ITM Financial Resource Management (FRM) is the first comprehensive financial planning and analysis solution designed exclusively to meet the unique needs of IT. ITM FRM goes beyond the corporate GL to provide the missing IT and Business context of IT costs. Capabilities include:
IT Financial Management:
- IT functional costing and budgeting - Applications, Data Center, Network, Desktop, etc.
- Examine project vs. "lights on" sustaining spend
- Break down costs by hardware, software, labor, and services
- Obtain a full view of spending for any and all vendors
Line of Business Transparency:
- Capture and calculate the total cost of ownership of applications
- Forecast the total cost of proposed project investments
- Identify the total IT cost of supporting a business process
Leveraging ITM Business Suite integration, ITM FRM relates costs to the IT inventory in ITM Foundation along with the project budgets in ITM Project Portfolio Management (PPM), providing a single source of truth for IT financial planning, management, and analysis.
Sophisticated Financial Analytics Built for IT
To provide IT with the most advanced financial analytics available in the market, ITM Software has partnered with Hyperion, the industry leading provider of Business Performance Management Solutions and the market leader in financial planning, reporting and analysis solutions. ITM FRM seamlessly integrates numerous Hyperion technologies to provide IT with a truly unique combination of capabilities - an integrated suite of business applications from ITM Software combined with the financial analytic horsepower of Hyperion. With ITM FRM, users can quickly build a variety of powerful analytics and "slice and dice" costs from a variety of perspectives.
Delivering Rapid Time-To-Value
Customers can score an immediate win by leveraging and consolidating the information they already gather in their current planning process into ITM FRM, escaping the "spreadsheet quagmire" and enabling a whole new set of advanced analytics and planning not possible with spreadsheets. The ITM Software Customer Success organization is adept at working with customers to formulate pragmatic deployment strategies that provide high value quickly and efficiently.
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