ITSM Wiki - ITIL® Financial Management

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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 in the classic lifecycle-view part of Service Strategy.

In ITIL^® 4 Financial Management is part of General Management Practices - Service Financial Management Practice

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Processes of 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

Service Financial Management Praktik in ITIL^®4

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Responsible roles

Financial Manager

Performance indicators

KPIs of Financial Management

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