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Financial Management

 

Best Practice according to ITIL® and ISO 20000

 

Financial Management is in charge for the economic control of the IT Services:

  • budgeting

  • controlling and cost calculation

  • charging provided services according to contract.

Financial Management is part of Service Strategy

 

Processes of ITSM Financial Management in detail

 

Process in the ITSM Process Library   Expected process result
       
IT Financial Organization   Definition of rules and structures for the economic control of IT Service Provision
 
IT Budgeting   Creation of the budgets for the IT for integration into the overall company's budget and approval as part of the company wide budgeting process
 
IT Forecast   Monthly forecast to compare the realized results with budget and creation of a projection for the following periods
 
IT Cost Monitoring   Collection, allocation and monitoring of the costs of IT service delivery
 
Invoicing for IT Services   Creation and transmission of invoices for the IT service delivery to the customer
 
IT Profitability Analysis   Analysis of profitability of the IT Services
 
IT Financial Reporting   Reporting of planned, actual and forecasted costs and revenues of the IT Services and possible improvements of the profitability
 
     

Main information flows and interfaces of ITSM Financial Management

Main information flows and interfaces of ITSM Financial Management according to ITIL® and ISO 20000

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(Documents within information flows only visible in our ITSM Process Collections)

 

Responsible roles of Financial Management

Financial Manager

 

Performance indicators of Financial Management

KPIs of Financial Management

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Last update 2022-10-04